Following four years of increased company growth, Formula Plastics is to further its reinvestment with fully automated Engel injection moulding machines.
Formula Plastics, based in Newton Aycliffe, County Durham, has invested over half a million pounds since the start of 2016 in advanced technology equipment, for meeting increased business. The investment package included a grant of £94,500 from the regional growth fund ‘Let’s Grow North East’, from the Regional Development Funds.
The automotive supplier moulds high tolerance precision components, with experience in single and twin shot moulding, and recently increased capability to mould larger components. Their highly efficient project management of new business and ability to provide ongoing support has enhanced the service to their clients.
James Goodliffe, Managing Director, said: “I believe in cultivating close, long term relationships with both our customers and our suppliers. In doing this we have been able to not only retain existing business, but also to attract new customers. This approach has resulted in us gaining additional work from both inside and outside the automotive sector.”
Formula Plastics’ order for Engel injection moulding machines was driven by the possibility of reducing energy consumption by half.
Goodliffe said: “We’ve chosen Engel for their quality, reliability and environmental impact. We currently have 11 of their injection moulding machines in various tonnages from 50 tonnes up to our latest acquisition at 650 tonnes. This investment is part of the ongoing growth plan of Formula Plastics as we continue to win more business”.
James Goodliffe
Formula Plastics
Formula Plastics