Plastic solutions manufacturer announces record month for sales
Newport-based water management solutions provider, Asset International Ltd (Asset), has announced record sales of its Weholite products for the month of July, despite claims that manufacturing output in the UK has declined.
Asset, which is part of the UK-based infrastructure, building and construction products group, Hill & Smith Holdings, achieved £1.38 million in sales during July, the highest ever for the company despite figures from the office of national statistics saying manufacturing output fell by 0.4%.
The company has also taken on 10 new members of staff over the last year in order to meet higher levels of demand, taking the total staff figure to 56.
Now in its 15th year of trading, and with a forecasted turnover for 2011 of more than £13.2 million, Asset credits large-scale projects within the UK water industry and a re-surge in the new build housing market for the increased demand of its patented high-density polyethelyne (HDPE) pipe systems known as Weholite.
Simon Thomas, managing director of Asset, said: “July certainly proved to be an excellent month for Asset and we’re confident that it signals a true return to form for the UK manufacturing industry. We are predicting an increase in sales of around 30% for the current year which is a real achievement in current market conditions.
“We are currently witnessing a raft of enquiries from outside the UK, particularly from Scandanavia, the Middle East and even as far afield as South Africa, suggesting that our order book will remain healthy for the following year.”
