Car parts firm bucks auto trend thanks to IfM
While car giants Ford and Chrysler battle global economic recession, and GM, the world’s biggest motor maker is saved from extinction, a Suffolk firm is bucking the trend.
The collapse in demand for new cars has had a devastating impact on some of the leading global manufacturers, and has hit smaller supply firms hard.
But for Leiston-based company Newton Commercial, a world leader in manufacturing car trim for classic British and European cars, business is on the up.
The firm, which employs 50 people, has seen a rise in sales and has taken on additional staff to cope with demand.
Newton Commercial, set up in 1978, produces more than 13,000 lines for worldwide sales, predominantly to wholesalers.
The family-owned firm specialised in providing parts for cars like the Morris Minor and original Mini, but with a diminishing market, it knew it had to do more than just increase its product range to grow and secure its future for the next generation.
Operations Director Jonny Newton contacted the Institute for Manufacturing to help develop a long-term strategy for the firm.
A complete review using the IfM's unique range of business tools and expertise enabled the company to produce a strategic plan of action focussed on beating the challenging economic climate.