Engineering firm wins �20k regional prize

AN engineering firm has triumphed in a regional contest aimed at helping companies to revive and thrive.

AJ Woods Engineering Limited of Harwich has scooped �20,000 in cash towards business development after winning the Ixion Challenge 2009.

Ixion Holdings Ltd, based in Great Baddow, Chelmsford, is a not-for-profit organisation which launched The Ixion Challenge in 2008 to help businesses in the East of England which are helping themselves cope during the recession.

The winner and two runners-up were chosen from more than 150 entries from across the region.

AJ Woods also scoops a �5,000 academic voucher awarded by Anglia Ruskin University and a graduate student placement, worth �2,000, to work in their business during the summer to implement one of their business development projects.

The two runners up, who will each receive �5,000 in cash to help them deliver their business development plans, are Colchester Physiotherapy & Sports Injury Clinic Ltd in Colchester, and Hanningfield Process Systems Ltd, Rochford, Essex.

Margaret Hyde, non-executive chair of Ixion Holdings and chairman of the Ixion Challenge judging panel, said: “The quality of entries for this year’s Ixion Challenge was very high indeed. Many businesses in the East of England are looking to the future, and have sound business plans, which will undoubtedly see them survive and revive after the prolonged period of recession we have seen here in the UK.

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“It was particularly encouraging to see entries from many business sectors, including engineering, motorsports, pharmaceuticals, farming, remanufacturing and medical to name just a few.” She praised the innovative approach of the winning entry.