Net positive in the first quarter of 2021

IMI Precision Engineering - Saab - RSF Elektronik | Premek

Category: News

A positive start to the year with a growth trend and two major new contracts officially green-lighted.

Our 2021 is looking like a standout year so far with some impressive figures, essentially bearing out last year’s overall positive data. Signs of growth, which were already looking promising in January, had stepped into net territory by the end of March: that + symbol has been underpinned further, allowing us to end the first quarter on a buoyant note, with results even up on those recorded for 2019, which was an excellent year for us.

The fact that we have won some significant new contracts is helping boost this positive trend. We refer to our contract with IMI Precision Engineering, a business specializing in the design and manufacture of pneumatic and fluid control components for demanding applications, whose audit we passed in September 2020 (as covered in the last issue) and for whom we are already going full steam ahead, producing samples of forty-seven new products, with mass production scheduled to start by summer. On top of this, we are delighted to report that our ranking with this company – who we have worked for in the past – has gone from small-to-medium suppliers to preferred suppliers.

The other contract in question is with Saab, a Swedish company operating in the global market with world-leading products, services and solutions, from defence to civilian security. For them, starting immediately, we will be producing the chassis to house an optical module and the production volumes involved will again be considerable.

Another source of satisfaction is our audit assessment from RSF Elektronik, the operational arm of our longstanding customer Heidenhain, who set the benchmark in measuring and control technologies. We have again been recognized for the high calibre of our service, with Premek Hi Tech being classed as a category A “key supplier”, with reliability levels ranging from 93 to 100% for the year 2020. Adding the finishing strokes to this more than rosy picture is a packed production schedule, with all our other customers keeping our lines running non-stop.