Quality
Assurance
The Company was approved by Lloyds Quality Assurance and
maintained the prestigious quality standard known as
ISO9002.
Client
Base
Customers included Raytheon Marine Matra Marconi, IBM,
Vosper Thorneycroft and British Aerospace. In 1994 the
British Waterways Board asked Priority to supply an
innovative designed Bolt . This new bolt was modified and
opened the door to the Highways Agency who approved the
product and licensed it. This new anchor bolt, which I
personally developed, was called Prilok. I prepared all the
drawings for approval by the Highways Agency and I applied
a copyright to the product through a licenced trademark
agent.
As a result of attaining this new product license from the
Highways Agency, a new lucrative market opened its doors
and this meant new clients such as Tarmac, Amey, Costain
and Associated Asphalt.These new clients would enhance the
value of our business with new high value, high volume
orders.
The main application of Prilok was to secure crash barriers
on bridges on the national motorway network throughout the
UK with a number of overseas clients placing orders.
Dunn and Bradstreet regularly gave our company a good
credit rating and business was progressing to a one million
pound turnover company with a 40% gross profit. It was
during 1996 that a dispute arose with Camas Associated
Asphalt who were the main contractors on the new Second
Severn Crossing. The dispute centered on extra work that we
were asked to do but were not paid for. The amount involved
was approximately to the value of 45,000 pounds and payment
was late as a result of the dispute.
We took advice from Eric Stonham, an
Insolvency practitioner with BDO Stoy Haywood, Chartered
Accountant and we passed the solvency/sunshine test
following a thorough report by him.
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