The electrical engineering company P&V Panels has inaugurated a new production hall in Ham. “That should enable us to grow further,” says CEO Joris Vrancken, who adds that for the first time, the company has exceeded 100 million euros in sales.
Since Joris Vrancken took the helm in 2014, P&V Group, which includes P&V Panels, has been on a remarkable growth trajectory. While in 2014 it still had sales of 27 million euros, by 2023 it had already reached 111 million euros. “We recorded sales of more than 100 million euros for the first time last year,” says Joris Vrancken.
The growth was achieved in recent years not only with an increase in its own activities, but also thanks to some strategic acquisitions in Belgium and in the Netherlands. Currently, P&V Group has branches in Heusden-Zolder, Genk, Kortrijk and in Zwijndrecht, the Netherlands. A fifth branch is now being added in Ham.
P&V specializes in the design and construction of distribution and control signs and in recent years has grown to become the largest independent sign builder in the Benelux region. P&V is strong in building high-tech signs for infrastructure, such as rail and cable companies, but also for industry, machine builders, data centers and buildings, such as hospitals. “Moreover, we are involved in just about every aspect of the electrification of our society, such as offshore wind farms,” said Vrancken, who has also been president of Voka Limburg since January 1 of this year.
Lack of space
The growth of recent years has created an acute lack of space. “We have been trying for several years to acquire some additional land at our location in Heusden-Zolder, but have not been successful to date,” Vrancken explains. “Hence we have moved to Ham, where we can rent a building.”
The new building can accommodate about 50 people. The official opening of the branch did not take place with the cutting of a ribbon, but of an electricity cable. This was done by Joris Vrancken, CEO of P&V Group, and Ghislain Hardy, CEO of P&V Panels.
The extra space in this fifth site will allow P&V Group to set up the production processes in the various branches more efficiently. The existing site in Heusden-Zolder will be retained. “The expansion in Ham allows us to better spread our activities, with each site having its own specialization,” said Vrancken. “For example, serial sign building, say standardized production, is moving to Ham, while the branch in Heusden-Zolder will focus on large projects.
Labor market
Joris Vrancken also wants to see his company grow in the coming years, but the shortage of personnel is playing tricks on the company. “Today there are orders we are losing because we cannot meet the delivery dates. The tightness in the labor market is therefore putting a brake on our growth,” Vrancken says. “Last year we managed to hire thirty people for P&V Panels, but currently there are another forty vacancies. We do have room to put all those people now, but then we have to find them.”
P&V Group has over 400 employees, 320 of whom are based in Limburg.
SOURCE: HBvL
