TMAT Ltd – the multi-national manufacturer of acoustic components for tractors and excavators, whose customers include Case, New Holland Tractors, JCB, and Terex – enjoyed a record £4million in new business enquiries in 2012.
In spite of this good news and the widespread optimism surrounding UK manufacturing in recent months, TMAT’s Managing Director, Jason Lippitt, has warned the manufacturing industry against complacency in what remains a highly unstable economic climate.
Jason said: “It seems odd for us to be guarding against excessive optimism now when a year ago we were one of the few companies expressing positivity when everyone else seemed to be so glum, but UK manufacturers really must be cautious.
“Foreign competition is an ever-present threat to UK businesses and will become more so if the Pound strengthens against the Euro. There is also the issue of the continuing instability of the European market, which will become even shakier should – as is predicted – Greece be forced to leave the Eurozone.”
Chesterfield-based TMAT is rare for having been one of the businesses that has thrived during the economic downturn. Its growth has risen from £5m per year to in excess of £10m since 2009 and TMAT aims to drive turnover to more than £20 million by 2015.
Despite the reservations Jason and TMAT have about the raft of good stories predicting sizeable imminent growth, TMAT does see itself as being at the forefront of the revival of UK manufacturing. The business is also a very keen advocate for manufacturing skills to be taught in schools.
TMAT designs and engineers innovative solutions to Noise, Vibration and Harshness for ACE (agricultural, construction, earthmoving) markets that it feels are the best in the industry. TMAT is backed by Advent Partners investment group and a £1.6 million HSBC funding package.