South Wales manufacturer bucks national trend for falling output figures with record breaking quarter

Posted: Thursday 27th September 2012

Newport-based water management solutions provider, Asset International Ltd (Asset), has announced record sales of its Weholite products, breaking their monthly sales record for the third consecutive month, despite official figures that manufacturing output in the UK is in decline.

Asset, which is part of the UK-based infrastructure, building and construction products group, Hill & Smith Holdings, achieved £1.65 million in sales during July, the highest ever for the company despite the UK's manufacturing sector shrinking at its fastest rate for more than three years in July, according to official figures.

The Markit/CIPS manufacturing purchasing managers' index fell to 45.4 last month, from a downwardly revised 48.4 in June. Any number below 50 indicating a contraction.

Now in its 16th year of trading, Asset has a forecasted turnover for 2012 of more than £15.3 million, £4.8million up on 2010 totals, signifying 46% growth in just two years.

Asset credits large-scale projects within the UK water industry for increased demand of its patented high-density polyethelyne (HDPE) pipe systems known as Weholite, as well as a recovery in the new build housing market.

Simon Thomas, managing director of Asset, commented: “We’ve also witnessed a huge increase in orders from abroad, particularly Scandinavia, where we have recently completed some large scale, cutting edge projects. Orders have also come in from the Caribbean and Falkland Islands and there have been numerous enquiries from Africa.”

“We’ve had to more than double our workforce to cope with demand - in 2011 we employed 42 people, now we have 89 employees.”

“It’s undeniable that we’re bucking the national manufacturing trend”, says Simon, “the last three months have brought bumper order levels and the future forecast is equally bright. We are predicting a 10% increase in sales over our 2012 projections for the current year, that’s 13% growth on last year, which is a real achievement given the current market conditions.”

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