Klarius Group Ltd

Klarius Group Ltd

August 25, 2011 05:30 ET

Klarius Group CFO David Cheetham Scoops Top Financial Award

MANCHESTER, UNITED KINGDOM--(Marketwire - Aug. 25, 2011) -

Editors Note: There is a photo associated with this press release.

David Cheetham, Klarius Group Chief Financial Officer has been awarded the title of Finance Director of The Year in a recent high-profile awards ceremony.

David picked up the award at the Financial Director of the Year Awards set up by a leading financial recruitment specialist with support from Barclays Corporate, Grant Thornton and DWF.

Commenting, David Cheetham, "I was extremely pleased to receive the award and would like to thank the panel who voted for me and also my colleagues with whom it remains both stimulating and a great privilege to work with on a daily basis."

Employing over 1,200 personnel across Europe, the Klarius Group is the largest dedicated European manufacturer of automotive aftermarket car parts today. Klarius operates five high-volume manufacturing plants, a Research & Development Centre, four European Technical Centres, eight International Logistics & Distribution Hubs, and eighteen national and regional Stock Warehouses based across Europe.

Having demonstrated a high level of financial acumen in arranging finance and facilitating the smooth acquisition of Leicester-based Quinton Hazell from US-based Affinia last year, the Klarius Group CFO has seen sales growth reach €350m for the Group. The Judges recognised this achievement and also David's practical and down-to-earth attitude to managing large scale global finance.

When asked about the challenges presented to him both in recent times and what he predicts what the future may hold, Cheetham provides a typically insightful analysis,

'Managing cash flow while we have been investing heavily in our own manufacturing base has been one of the most challenging aspects of recent months, fortunately the decisions made by the Board have paid-off; our lean efficient manufacturing facilities have allowed us to service large OE contracts where other manufacturers have struggled due to off-shore manufacturing and supply chain issues.'

'The challenges we face in the future in-part revolve around the cost of manufactured goods still rising; driven by demand from economies that are bouncing back faster than the UK and increasingly by raw material and oil price fluctuations on the world market. Many manufacturers that reduced capacity during the 2008/9 recession are now struggling to increase production because of competition for raw materials and the lack of available machining capacity. Fortunately we are not in that situation and our challenges are positive ones based around effectively managing growth.'

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