Family run business, Transtherm, based at Banner Park in Coventry, is having an exceptionally strong year to date. The HVAC system manufacturer has matched its 2014-15 annual turnover in just 8 months since the start of this financial year.
This increased 2015-16 trading means that turnover is expected to increase by approximately 50% by April 2016.
Transtherm has been able to expand so much because of improvement in its economies of scale – reducing costs, whilst maintaining quality – enabling it to compete with even the most aggressive pricing from foreign competition.
Its growth is expected to continue, thanks in part to the current domestic and international political drive towards halting climate change, and, because a large percentage of Transtherm’s products are installed at renewable energy plants and energy efficient data centres.
The 32 person business has also increased its product flexibility and technical offerings to place itself ahead of competitors, in terms of energy efficiency, green credentials and system integration – particularly with the Internet of Things.
Transtherm’s products are embedded with technology which allows them to communicate with other equipment wherever they are fitted. This delivers sustainability, cost efficiencies logiditical benefits to big buildings.
Sales director Tim Bound said, “We have recently recruited excellent new talent into the sales and manufacturing team which has made it possible for us to sell and manufacture more equipment than ever before.
“Due to changes in government legislation we are seeing a big increase in cooling systems for the power generation market. We are also enjoying a much greater interest in our packaged products from the building consultant market due to their unique designs and simplified use.”
Big Transtherm projects coming up for 2016 include the supply of cooling equipment for a huge data centre, work within the British automotive sector including a formula 1 team, and support for UK STOR projects (short term operating reserves) helping bolster the national grid and give additional reserves in the areas of the country that need them most.
Transtherm’s success comes at a time when the Office for National Statistics has announced that the manufacturing sector is still in recession, having contracted by 0.3% in the third quarter and 0.5% in the second quarter of 2015.