Servocell-enabled products speed to market
Shares in Essex-based Servocell climbed over 15 per cent after Helmsman, the UK’s leading locker and cabinet manufacturer, revealed that its new locker security product incorporating Servocell’s active latch component would hit the market three months ahead of schedule.
The Harlow company put the achievement down to its recently launched Partnership Programme as it is the first time 200 year old Helmsman has made its own locks via working with DSM Soft, an international engineering consultancy and the newest recruit to Servocell’s ProActive Partnership.
Servocell’s share price rose 12.5p to 91.5p a share, up 15.82 per cent. Simon Powell, Servocell’s chief executive, said: “I am delighted that Servocell’s ProActive Partnership has been so beneficial to Helmsman. This type of product development is exactly why the Partnership was created and provides an effective forum within the lock industry for product development while reducing costs via joint development initiatives.”