Formula
Formula Plastics will continue its programme of investment
Injection moulder, Formula Plastics, says that continuous investment in machinery and people is the key to its success.
The Newton Aycliffe-based company, which specialises in twin-shot moulding for the automotive sector, has achieved steady growth over the last two decades, bringing current annual turnover to £4million.
Since 2016 it has spent over £600,000 on new Engel injection moulding machines, with tonnage on site now ranging from 50 to 650T.
The firm’s moulding capabilities include under body, instrument panel and HVAC components and assemblies, parts that it says are now supplied to “most UK OEMs”.
Additional business is also coming from non-automotive sources, it says, resulting in significant investment in new equipment to meet this growing demand.
Recent purchases include ancillaries such as material dryers, loaders, dosing units and mould heaters supplied by Renmar Plastics Machinery.
“We believe continuous investment in our machinery and people are key to ensuring plans for future growth are successful,” commented Formula’s Production Director, Geoff Hodgson.