Magnomatics names new chairman

Dr Michael Lloyd has extensive knowledge of the industrial sector as well as considerable experience in the defence, nuclear and aerospace sectors, all of which are important markets for the Sheffield-based company.

He is also an industrial adviser to Unipart and a non executive director of the Office of Rail Regulation.

Chief executive Chris Kirby said: “We are delighted to welcome Michael to the team. He brings with him a wealth of experience and contacts and I am confident he will be able to help us grow our business further, securing strategic contracts and advising us on how to best exploit our capabilities internationally. He will be a great asset to the board.”

Dr Lloyd added: “Magnomatics has already made some excellent progress and I am very much looking forward to working with the team to build on these achievements.”