Ham – The electrotechnical company P&V Panels has opened a new production hall in Ham. “This should enable us to continue growing,” says Joris Vrancken, CEO of P&V Group, who adds that they have, for the first time, achieved over 100 million euros in revenue.
Production facility P&V Panels – Ham
Since Joris Vrancken took over the leadership in 2014, P&V Group, to which P&V Panels belongs, has undergone a remarkable growth trajectory. While revenue was still 27 million euros in 2014, it had reached 111 million euros by 2023. “Last year, for the first time, we achieved revenue of over 100 million euros,” says Joris Vrancken.
Growth in recent years has been driven not only by an increase in the company’s own activities but also by several strategic acquisitions in Belgium and the Netherlands. Currently, P&V Group has locations in Heusden-Zolder, Genk, Kortrijk, and Zwijndrecht in the Netherlands. Now, a fifth site has been added in Ham.
P&V specializes in the design and construction of distribution and control panels and has grown in recent years to become the largest independent panel builder in the Benelux. P&V has a strong presence in the construction of high-tech panels 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 almost every aspect of the electrification of our society, such as offshore wind farms,” says Vrancken, who has also been the chairman of Voka Limburg (Limburg’s Chamber of Commerce) since January 1st of this year.
Lack of space
The growth of recent years has led to a pressing shortage of space. “For several years, we have been trying to acquire some extra land at our location in Heusden-Zolder, but that has not been successful so far,” Vrancken explains. “That’s why we have moved to Ham, where we can rent a building.”
In the new building, about fifty people can work. The official opening of the site was not marked by cutting a ribbon but by cutting an electrical cable. This was done by Joris Vrancken, CEO of P&V Group, and Ghislain Hardy, CEO of P&V Panels.
The extra space at this fifth site offers P&V Group the opportunity to organize production processes more efficiently across the different locations. The existing site in Heusden-Zolder will remain operational. “The expansion in Ham allows us to better spread our activities, with each site having its own specialization,” Vrancken explains. “For example, serial panel production, meaning standardized production, will move to Ham, while the Heusden-Zolder site will focus on large projects.”
Job market
Joris Vrancken also wants to see his company grow in the coming years, but the shortage of manpower is hindering the company. “Today, we are losing contracts because we cannot meet delivery deadlines. The tight labour market is therefore holding back our growth,” says Vrancken. “Last year, we managed to hire thirty people for P&V Panels, but we currently have forty vacancies. We now have the space to accommodate all these people, but we still need to find them.”
P&V Group employs over 400 people, 320 of whom are in Limburg.
Source: HBvL (Guido Cloostermans)
