As the Christmas holidays are now fast approaching, I wanted to take the opportunity to wish all of you – our staff, our customers, our suppliers, and everyone else – a very Merry Christmas! I offer my sincere wishes for a great holiday season and wish you all a Happy New Year (in advance) for 2019.
The Christmas holidays always provide a natural time to take a step back from the business and reflect on the happenings of previous year. I would like to extend my thanks to all who have worked so hard this year to drive the business forward. We continue to transition our Manpower portfolio away from price-driven contracts towards those customers whose priority is added-value. Our GRP team likewise have focused heavily on operational efficiency and preventing margin erosion.
Workload for GRP in 2019 is looking very promising with the award of the P50 hardtop, with a forecast of one every 7 days. In addition, it is very likely that a large volume of Pattern, Tooling & Component work for the new “13X” line will also come our way, which will keep GRP very buoyant through much of 2019. This workload increase does pave the way for some of the Atlas work that was originally planned for unit 43 to be made at the recently extended to the Composite Centre.
A very positive 2019 forecast for Composites means we are in the fortunate position to be selective with the work that is quoted. One particular instance is quote request for a 3rd rescue submarine for JFD which we have priced (considerably more than last time) and specified the timing window due to the size of project. We have been awarded a large 11m long flying carbon wing section by Cranfield Aerospace, who are developing a manned Vertical take-off aircraft on behalf of Rolls Royce Aero which will be an exciting project. In addition, we have won a significant extension to the Aston Martin 4×4 car build program with tooling and 30 car sets of various new mouldings, a £400k project that will start in earnest in the New year.
So, a big well done to everyone for their efforts in the past 12 months. A huge focus on streamlining process and increasing efficiency, coupled with a host of new exciting customers, means that NORCO will be able to post another year of significant growth when the financial year closes in the Spring of 2019.
We must also spare a thought at Christmas for those in need and those who are less fortunate. I am incredibly proud of our efforts at NORCO during 2018 in raising money for charities like Julia’s House, Poole Special Boat Service and a school in Kenya where we funded the education of 42 orphaned youngsters. I am also looking forward to 2019 to see how we can increase our efforts to support other worthwhile causes and give something back to those who need it.
Best wishes to you and your families over the Christmas holidays. Here’s looking forward to a great 2019!!!