© Electrolube Electronics Production | April 25, 2018
Electrolube record growth all over
The electro-chemicals manufacturer has today announced its biggest growth figures ever recorded in the company’s 78-year history.
Gross turnover for 2017 rose by a whopping 27% compared to the previous year and the company has reported a substantially increased level of profitability. The company credits strong team effort as one of the factors that contributed to the significant growth of the business; throughout its operation in the UK, Germany, France, China, India, Australia and the USA. Electrolube’s new R&D facility in Suzhou, China, opened last year, which has positively endorsed the company’s reputation locally. The Suzhou facility works closely with the UK and Indian R&D departments, ensuring a highly productive exchange of ideas, which has rapidly advanced the company’s capacity to develop high performance materials, a press release reads. “Although it is early days for this facility, it has made an enormous difference already as we have the ability to service customers in an even more timely and effective fashion. The investment is already paying dividends. We are predicting great things and renewed growth from this state of the art R&D centre,” Managing Director Ron Jakeman, told evertiq in an emailed statement. But China isn’t the only Asian company where the company has grown and developed itself. For the last four years Electrolube India has been running a successful technical sales operation in Bangalore – but, in 2016 that operation received slightly more muscles as the company set up a new manufacturing facility in Bangalore. Since then the company’s growth in India has been exponential. “I’m very proud to announce our excellent year-end results. The impressive increase in turnover and operating profit are a result of our long term strategy for developing innovative next generation products, investment in our in-house testing and R&D facilities, and a real focus on longevity, customer service and distributor relationships. A two-year project has also contributed some key operating efficiencies within the business. To see such strong results for the business shows that our strategy is effective and is a real credit to our dedicated, passionate and ever-growing workforce,” Ron Jakeman, said in the press release. “The strong market for Automotive, LED applications and consumer electronics undoubtedly played a part in this outstanding result but far from resting on our laurels, we are looking forward to further growth in the year ahead. As a collaborative solutions provider, we will continue to work in partnership with global manufacturers, focus on problem resolution and provide expert guidance to help improve processes, productivity and ultimately the quality and reliability of customer products.”