Despite reduced short-term market demand, a Worcestershire precision engineering company is to invest around around £100,000 in two new Chin Fong OCP45 stamping presses as part of a project that will see the introduction of two new production lines at its Redditch facility.
Samuel Taylor Ltd (STL) Sales & Marketing Manager Carl Siviter, said: “These are unique times in businesss. However, optimism and solid engineering remain a corner stone to the eventual recovery of manufacturing, and STL is continuing to battle through the current difficult times, while maintaining our commitment to a longer-term plan. The ethos of supporting strategic customers is central to this, and in this instance is evidenced by our latest investment to increase capacity.”
The Ching Fong presses will be installed as part of an ongoing partnership with Dudley based Worcester Presses.
Russell Hartill, Managing Director of Worcester Presses said: “This latest investment is characteristic of the company’s approach and willingness to make targeted investments where required. They have developed an exceptional team of people that are empowered to be creative and develop innovative solutions for their customers.”
STL identified that in ever more competitive and global markets, cost of ownership was key to customers. Earlier this year, the company came up with a new proposal for reducing direct cost at one of its’ strategic customers. The proposal was subsequently validated, accepted, and is planned to be implemented into mass production scale before the end of 2020.
Carl added: “The project scope includes tool design and build, integrated with two new production lines which will include the two new Ching Fong OCP45 presses. Tools and the production lines are in-house supported projects”.
Investment in the new production line follows a significant outlay in 2019, as STL invested £500,000 in new machinery and additional factory space to support existing and new customers and as part of ongoing efforts to increase capacity and efficiency.
“We operate globally, and investment is required to ensure that we remain competitive,” said Carl. “But it has also enabled us to broaden the services that we can offer. Between the announcement of our 2019 investments and those that we are making now, other smaller investments in new equipment have been made, such as the £30,000 purchase of a 4th Wire Eroder which has increased day to day production flexibility in our on-site toolroom.”