Best of of
t of
British
a cornErstonE of UK growth
ElEctronics,
IO Electronics’Michael Leggett explores the value of electronics
manufacturing in the UK economy and highlights the importance of investing in people and technology
September last year, I wrote an article for Electronics Sourcing under the ‘Best of British’ banner. The article was based on the repatriation of electronicmanufacturing business fromabroad which included some startling facts supporting UK growth through a somewhat difficult financial period, so how are we doing come 2011? Can I back upmy claims? Let’s take a look at what’s been happening.
Manufacturers provide 60 per cent of UK exports, up from58 per
cent last year: a sizeable contribution for a country heavily involved in international trade.We knowBritishmanufacturing is diversified, but its strengths lie in aerospace, electronics and pharmaceuticals. Product innovation (including a sizable electronics chunk) is the highest ranking percentage in terms ofmanufacturing recovery.
The Office for Budget Responsibility (OBR) forecasts that capital
investment by businesses will grow by 7.5 to 10.2 per cent per year over the five years to 2015. The latest data shows UK business investment in the fourth quarter of 2010 grew by 10 per cent compared with the fourth quarter of 2009: andmanufacturing investment was up 14.4 per cent according to an annual Ernst & Young survey. The UK in 2011 is now ranked first in Europe for: business services, software and electronics: yes electronics!
Managing director,
Andrew Cridland, said: “Strong growth in demand across the electronics manufacturing sector continues to put breath in the sails of the UK economy.”
Investment in product and process innovation leads theway
IO Electronics has seen a sizable growth in-linewith the
mentioned figures,withMarch 2011 end-of-year results being almost symmetrical at 15.4 per cent growth fromMarch 2010 and employment levels up an impressive 12.5 per cent. Investments made in staff training and newstate-of-the-artmachinery have raised the productivity rate and reduced lead times for our customerswhich has helped exponentially in our company’s expansion.We believe the future depends onwhatwe do now which iswhy continued support, high levels of productivity and customer satisfaction are paramount.
www.io-electronics.com
June 2011 | 17
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