TMAT, the multi-national manufacturer of acoustic components for tractors and excavators whose customers include JCB and Volvo, is to invest a third of a million pounds in tooling to meet record demand.
A successful summer of sales has seen 15 projects – 10 supporting the agricultural sector; and five supporting the construction industry – come to fruition for TMAT.
Its tooling includes manufacturing aids such as cutting tools, fixtures, gauges, jigs, moulds and patterns of a specialised nature.
TMAT MD Jason Lippitt said: “The investment has been to meet an immediate requirement and due to the record levels of interest and sales we’ve had over the summer.
“The levels of business we’ve seen over the summer are very heartening, both from our own point of view and from the point of view of the wider economy, with the agricultural sector in particular beginning to show greater buoyancy.”
In July, TMAT’s six-month report revealed sales increased 6% on this time last year – outstripping the 1% improvement in sales across UK manufacturing as a whole – with gross profit up by 10%.
TMAT also said that it hopes the second half of the year, similarly, will return record breaking sales and profit.