Warwick manufacturer plans to double sales to £10m

A WARWICKSHIRE manufacturer is aiming to double the size of its turnover and headquarters after being supported in its growth plans.

Fozmula, which is based at Tachbrook Park, Warwick, employs around 50 staff and turns over £5m designing and making sensors for a range of vehicles and machines, from power generators to diesel engines.

The company, which was formed in 1977, enlisted the help of the Coventry and Warwickshire Growth Hub and has been given support for its growth plans, which aim to see the firm turning over £10m by 2019 by which time it also wants to extend its property to 30,000 sq ft.

Part of the company’s strategy has been to reshore the manufacturing of certain parts for one of its best-selling products from China. The company has now identified a supplier firm in Stourbridge, which can now make several components within the sensor.

Fozmula, which has been in its current location for four years, is also close to starting work on a lucrative contract with an existing American client.

To service the order, the company has purchased a £30,000 laser marking machine, aided by £22,000 via Coventry City Council.

Roland Smythe, of Fozmula, said: “The work with our American customer will begin very soon and that could lead to us making an additional 60,000 units a year for this customer alone.

“The amount of information they required on each part meant it would have been too time-consuming to do it all by hand, so the new machine was vital if we wanted to deliver that contract.

“The great news for us is that not only was it necessary for that particular job, we are seeing the benefits on a range of other products too. We used to stick labels onto one particular item which cost us more than 40p per sticker – now all of that can be done with the new piece of equipment.”

Jaymie Thakordas, an account manager at Coventry and Warwickshire Growth Hub, said Fozmula had taken the right steps to push for continued growth.

She said: “Fozmula is a forward-thinking manufacturer with very exciting plans to expand its business.

“Reshoring some of its supply chain back to the UK will help to improve lead times and quality and is, obviously, positive news for the regional economy.”