Enterprise and Growth:
The Company is now reaping the rewards of the previous years’ change in market sector strategy and investment, having trebled sales over the past 5 years (2014 c,£15million) and on track to grow by at least another 7% in 2015. Boddingtons’ success is not only focused upon UK markets, but also incorporates the European and US marketplaces. A number of start-up companies, which Boddingtons believed in and helped resource, are now beginning to produce significant sales, this includes Arc Medical for which we were previously the winner of “Industrial Product Design of the Year in 2013.
Our strategy has been to have a mixture of large and small customers that would allow us to build a portfolio of products to demonstrate our capability in both the Medical and Technical sectors. We have worked with carefully selected newly formed and well established customers with the key being their potential projected sales in years 1 and 3, route to market and ongoing margins.
The new direction of the business required different needs and has resulted in adding considerable additional resource in our technical and quality departments. This did have an impact on the EBIT in 2014 but was a necessary step to ensure we are prepared for the next stage of our growth. We have added NPI, Regulatory and further Quality Engineers which allows us to introduce seamlessly new programs and produce Technical files for CE and FDA requirements of our customers.
We have successfully implemented an ERP System (Epicor) which has taken us from several smaller systems along with spreadsheets to a fully integrated system. This gives us total control of everything from sales leads, financial, purchasing, planning, manufacturing booking, stock control and dispatch along with full traceability.
Our success to date means we now have to expand our facilities in order to meet the demands and requirements of our current customer base and position ourselves for further growth. We have a 5 year plan that will see the business grow to £28million turnover by 2020. We now have planning permission granted to build a second facility at the rear of the current building with an approved investment of £4million for fit out and additional capacity. Within the new facility 50% will be cleanroom manufacturing which will provide us with contingency and increase our current cleanroom capacity by 5 times. The additional building will also give us a whiteroom manufacturing facility along with a specialised assembly area.
As an accredited “Qualifications & Credit Framework” Training Centre, the workforce is trained to a level 1 status with the opportunity and an incentive provided to achieve level 2 and above. During the past 12 months, Boddingtons has expanded its competency base with the addition of key personnel to several departments as previously stated. In order to position ourselves for our strategy we have also added a Finance Director and a Customer Service Manager. We have continued and increased our intake of apprentices in 2015 to ensure we have the right skills to both replace retiring Engineers and the right people to allow Boddingtons to meet its 2020 goal of achieving a revenue stream of £28million.
Boddingtons always puts its customers first, running weekends when necessary and supporting at trade shows; this year in the USA and Spain. Relationships are built on a partnership mentality; this support can be in the form of offering SME clients, capital costs amortisation, which by its very nature ensures both parties have a stake in the success of the client’s business. Kanban Agreements are also entered into, which offers the benefit of working capital efficiencies.
Addressing environmental concerns:
All waste processing materials are recycled on or off site and all packaging and paper waste is bailed for recycling.
All-Round World-Class Injection Moulder: Boddingtons’ basic offering is precision injection moulding and a flexible assembly capability, which includes finished components and medical devices. However, additional competencies are also utilised for the benefit of customer programmes and these include:
- Design for manufacture
- Tool design and “in house” production
- Full tooling validation
- Management of tool procurement, EU and Far East
- Packaging design and development
- Technical file / regulatory support – CE marking and FDA approval.
To find out more please visit the Boddingtons website www.boddingtons.co.uk
Contact us – Call +44 (0)1622 833700