Tex Plastics Division – healthy growth in challenging times
2019 is proving to be a challenging year for manufacturing in general, with UK factory output dropping off to a seven-year low as Brexit uncertainty rolls on.
Globally, Eurozone and UK manufacturing all contracting
The IHS Markit/CIPS manufacturing purchasing managers’ index (PMI) fell to 47.4 in August, down from 48.0 a month earlier – anything above 50 separates growth from contraction. This showed that UK manufacturing activity fell in August to the lowest levels since July 2012. Manufacturing in the Eurozone also contracted for a seventh month in a row in August, all set against the intensifying US-China trade war and a slowing global economy.
Tex Plastics investment helping us buck the trend
“We live in a time of disruption but where others see difficulty, we see opportunity – not just to survive but to thrive. Through investing in modern equipment, our people and their skills, we’ve expanded our in-house solutions. This has helped us to secure more business as we can control costs, timescales and quality more efficiently.
“Tex Plastics have focused on faster, more energy efficient machinery which reduces costs and carbon footprint. With investment in recycling hoppers, spray booths and other smaller incremental changes during the past 24 months, it means we’re in a great position to be more competitive. Coupled with an ongoing recruitment process and investment in skills through training, our business is experiencing the rewards for the investment strategy supported by Tex Holdings PLC.”
Manufacturing Director & General Manager