THE BOSS of a Chesterfield company which has had a record £4m in new business enquiries during the last year is warning against complacency.
TMAT Ltd - the multi-national manufacturer of acoustic components for tractors and excavators - enjoyed ground breaking interest during 2012.
However, TMAT’s Managing Director Jason Lippitt has warned the manufacturing industry against complacency in what remains a highly unstable economic climate.
He said: “It seems odd for us to be guarding against excessive optimism when a year ago we were one of the few companies expressing positivity but UK manufacturers really must be cautious.”
He has highlighted foreign competition as a threat to UK businesses and the instability of the European market as two concerns.
He added: “Foreign competition is a threat to UK businesses and will become more so if the Pound strengthens against the Euro.”
Chesterfield-based TMAT is rare for having thrived during the economic downturn. Its growth has risen from £5m per year to in excess of £10m since 2009 and TMAT aims to drive turnover to more than £20 million by 2015. TMAT’s success has been helped by Advent Partners investment group and a £1.6 million HSBC funding package.