Leading precision pressings manufacturer Threeway Pressings (TWP) continues to set the standard for British manufacturing with their latest investment. Despite ongoing challenges with COVID-19 over the past couple of years, TWP has increased revenue by 15% and have purchased another milling machine that will help reshore work back to the UK. This will be the company’s 12th machine purchased in under three years.
Tipton based Threeway Pressings are nothing short of spectacular when it comes to reshoring work back to the UK. With an ever increasing order book, filled with UK clients who were purchasing large quantities from the far east, TWP have purchased yet another Milling Machine - their third XYZ 2-OP. The reason for the purchase came after winning a major contract with a UK based tier one supplier, however agreed that the new machine would help with the growing order book.
With the world looking to manufacturers to become more sustainable as we strive to lower the earth’s carbon footprint, TWP’s commitment to reshoring work back to the UK has tremendous benefits all round. Phil Stanley, Managing Director at TWP, said:
“The machine is for high volume production milling, and will produce around 12,000 parts in a year. One of the major benefits of the purchase is our opportunity to reshore work from the far east. This means more and more UK businesses have the chance to lower their carbon footprint, not pay rising shipping costs and have their products with them in as little as 2-3 weeks - rather than 8-12.”
It seems the last 24 months have given businesses a chance to reevaluate where they are purchasing their products from. Take Jaguar Land Rover as an example, the leading automotive company have struggled to purchase electric chips from the far east due to shortages in the past and thus have reshored business back to the UK as a result.
The ongoing demand from TWP customers has also led the company to carry out late night manufacturing. With machines running until 10 o’clock in the evening, TWP will have the capacity to produce 35,000 parts a month. As a result, the business has amazingly created four new roles, hiring people from the local area. Phil concluded:
“By investing in machinery over the last three years, we have had full control over quality and delivery dates for our customers. It has given us invaluable flexibility and the ability to take on new work - resulting in a 15% increase in turnover. Reshoring work back to the UK gives us greater understanding and the chance to better control costs, in addition, consignment stock headaches are gone as they are no longer managed by an external company.”
To find out more head to https://www.threewaypressings.co.uk/