The Company was approved by Lloyds Quality Assurance and maintained the prestigious quality standard known as ISO9002.
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.