Midlands manufacturer, Transtherm Cooling Industries is predicting a turnover increase of 50% following thanks to new business and a forward-thinking strategy.
The family-run, Coventry-based business is having an exceptionally strong year to date, matching its 2014-15 annual turnover of £3.75m in just eight months since the start of this financial year (April 2015 – April 2016).
This increased 2015-16 trading means that the HVAC system manufacturer is expecting turnover to increase to £5.6m by April 2016 – a rise of approximately 50%.
Transtherm attributes the much of the expansion to improvement in its economies of scale – reducing costs, while 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 in regards to the internet of things (IoT).
Transtherm’s products are embedded with technology which allows them to communicate with other equipment wherever they are fitted; delivering sustainability, cost efficiencies and logistical benefits to big buildings.
Sales director, Tim Bound commented: “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.”
Significant 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 (short term operating reserves) projects – helping bolster the national grid and give additional reserves in the areas of the country that need them most.