The awards enable the turnaround profession to be openly recognized for saving businesses and acknowledged amongst the wider business community as being an intrinsic part of commercial and public life -- in the same way that the accounting, legal and management professions have long been regarded.
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Sidney, OH (PRWEB) December 15, 2006
Leading global manufacturer, CompAir , has been awarded 'Private Company Turnaround of the Year 2006' by the Society of Turnaround Professionals (STP).
The company, headquartered in the UK, was presented the award at a prestigious ceremony recognizing the outstanding contribution to the UK economy of the country's top corporate trouble shooters.
CompAirUSA , the North American division of CompAir, operates locally in Sidney, Ohio.
A panel of ten independent judges from the UK business community selected CompAir from a number of submissions, describing what the company has achieved over the last four years as "an outstanding turnaround."
CompAir is one of the world's leading manufacturers of compressed air and gas systems . Its compressors, equipment and services are in use across the globe in a wide variety of industrial applications.
In the four years since its CEO Nick Sanders arrived at the company, it has seen unprecedented growth and success. The company has been guided away from financial troubles and is now recognized as a top UK manufacturer, achieving double digit growth, putting it well ahead of the market rate.
Mr. Sanders was presented with the award by Hamish McRae, associate editor of The Independent and principal economic commentator for The Independent and The Independent on Sunday, in front of more than 300 business leaders. Mr. Sanders commented:
"This is a very important award for CompAir and to receive this kind of recognition reflects just how far we have come in the last four years. This is only one step on our journey and we will be redoubling our efforts to ensure not only the continued success of CompAir, but further recognition of UK industry's contribution to the global marketplace."
Nick Ferguson, chief executive of STP, said: "The awards enable the turnaround profession to be openly recognized for saving businesses and acknowledged amongst the wider business community as being an intrinsic part of commercial and public life -- in the same way that the accounting, legal and management professions have long been regarded."
STP was established in 2000 as an independent body for turnaround professionals, including independent executives, accountancy and legal advisers and stakeholder representatives. STP is supported by the UK Government, the clearing banks and other financiers, private equity investors and leading accountancy firms with the aim of ensuring that the highest standards of ethics, behavior and quality are observed and adhered to by its members and the turnaround profession.
For more information about CompAir call 937-498-2500 or visit http://www.CompAir.com.
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