During the current testing market conditions for manufacturers, Formula Plastics has successfully secured a number of new customers in a range of sectors and has also seen an increase in business with existing customers.
The increase in staff has allowed Formula to solve both uncertainties and immediate issues in the supply chain of their customers, one of which required an urgent tool transfer to alleviate a supply issue they faced. The tool transfer was arranged by Formula and following quality checks production started and the new customer received their product in less than a week.
Formula Plastics is an established injection moulding business with over 100 years of combined experience. The company specialises in moulding high tolerance precision components for its range of global customers in many different sectors. Based in Newton Aycliffe Business Park, County Durham and operating from premises with 41,000 sq. ft of space and providing additional services such as assembly and warehousing Formula has the capacity to grow with the needs of its customers.
In approaching new markets, Formula Plastics has been able to increase production levels during the market uncertainties of 2020, also offering its existing team greater job security as the company continues to thrive due to its strategic moves to build new relationships.
Formula continue to operate successfully in the automotive market and other sectors serving customers locally, throughout the UK and in Europe. They ensure that the stringent standards they operate to in the automotive market are maintained or exceeded when serving their customers in other sectors.
Geoff Hodgson, Operations Director of Formula Plastics said: “This year has definitely been testing for most manufactures, we have seen a need to target a more varied client base from all sectors, The testing market has inevitably caused concerns in the supply chain. We have managed new customers through pandemic removing any risks they encountered in their supply chain, ensuring they continue to fulfill their customer demand. We never just want to win a job, we want to help others and build relationships. 2020 has given us an opportunity to help others and grow our business while doing so. We welcome discussions with new customers whether this is to bring a new product to market or to alleviate a supply or quality issue they face. I’m proud of the team I have at Formula and look forward to working with them helping others long after 2020 has ended.”
Formula Plastics also continues to invest in state-of-the-art machinery. They have a range of machines (50 Tonne to 650 Tonne) and also specialise in Twin Shot technology. As a result of this technology and their inhouse expertise Formula are able to provide products that are considered more technically demanding than its competitors.
Formula Plastics prides itself on a smooth transition from injection moulding concept to production to meet its renowned high standards in the delivery of quality components on time for its customers in all sectors.
To find out more about Formula Plastics visit the company website www.formula-plastics.co.uk.
To discuss how Formula can help with any supply issues you currently face contact Geoff Hodgson, Operations Director on 01325 375864.