Editor’s View

The outlook for manufacturing is, at best, uncertain for the coming months. The Make UK/BDO survey released in June saw some recovery in the second quarter of the year and saw fears of a recession easing, but was far from bullish.

James Brougham, Senior Economist at Make UK, said: “Manufacturers are seeing a gradually improving picture but the word ‘gradually’ is doing a lot of heavy lifting.” He pointed to the fact that there had been a period of relative stability after the turmoil of the last few years. But is this sustainable? Probably not.

Richard Austin, BDO’s National Head of Manufacturing, commented: “Despite the first half of the year seeing some pressures easing, there are longer-term systemic challenges in the UK market, with built-in inefficiencies that need to be addressed urgently in order for UK manufacturing to effectively plan and invest.”

He believes supply chain pressures have become endemic as SMEs face continued disruption and cost pressure.

Since the survey came out, the recent interest rate rises and enduring lack of Government interest in an industrial strategy continue to dampen hopes.

Chris Barlow of accountancy group MHA says: “The Bank of England’s recent interest rate increase is bad news for UK manufacturing. Whilst lenders have shown a willingness to help viable businesses, there’s growing sector feeling that BofE policy is going to push Britain toward recession. The threat of recession has crippled manufacturers’ investment plans, with many discussing or actively reducing future investment.”

He added that the need for a long-term manufacturing strategy has never been more urgent.

We’ve all got to keep plugging away at this and try to get the message through.

Andy Sandford, Editor

Vestatec’s longstanding relationship with photochemical etching specialist Precision Micro is key to supplying speaker grilles to many of the world’s most luxurious vehicles.

The Nottingham-based company supplies unique styling solutions for premium brands such as Bentley, Porsche and Lamborghini.

Photochemical etching allows Vestatec to bring intricate designs to life while also adding clear cost-saving benefits. Chemical etching also means that finished metal speaker grilles maintain their sleek appearance and tactile perception for longer, as well as offering improved sound quality and durability.

An alternative to traditional stamping and laser cutting, photochemical etching uses chemical etchants to create complex but highly accurate precision components from almost any metal. With hundreds of holes to cut in the average speaker grille, and the need for consistent, pinpoint accuracy, laser cutting is simply not viable.

Vestatec’s journey with Birmingham-based Precision Micro began a decade ago but Vestatec did offshore its supply briefly while Precision Micro was actioning a £5.1m recovery plan following a fire in 2019.

While Precision was back to full manufacturing potential within three months, reconfiguring its processes and increasing its overall capacity, Vestatec was facing difficulty