Success for Wymondham firm
A manufacturing company has posted a fourfold increase in turnover it its first two years of operation. Polar Composites, which specialises in the design and production of carbon fibre composites, saw turnover in 2007-08 hit £370,000 - up from about £90,000 in its start-up year.
A manufacturing company has posted a fourfold increase in turnover it its first two years of operation.
Polar Composites, which specialises in the design and production of carbon fibre composites, saw turnover in 2007-08 hit £370,000 - up from about £90,000 in its start-up year.
The Wymondham-based company was set up by Mike Harris in 2006 and has since won contracts in the marine, motorsport, aviation and leisure industries.
Staff numbers have risen from four to 10 and Mr Harris said “this may well increase over the next couple of weeks to 15”.
Polar is also poised to launch The Carbon Shop - selling carbon fibre products online.
Mr Harris said the company was aiming to achieve a £500,000 turnover in its third year.
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The design and development of a carbon fibre skateboard, a new design for sports helmets and prototypes for canoe paddles have been among recent projects.
“We experienced a number of teething problems leading to a disappointing first year, but this has been more than compensated for by the success of 2007/2008,” he said.
“We have a dedicated and enthusiastic team and are already forging ahead with new contracts as well as building on existing business. We will be exhibiting at international trade shows in the coming months and are confident our third year will be even more productive.”
The company offers tooling and part design, as well as prototyping, manufacture and repairs.
“Although we are smaller than many of the main players in the composites industry, we are able to be extremely flexible as a result,” Mr Harris added.
“Customers appreciate our ability to innovate, experimenting with designs and prototypes to produce a superior end product. We also endeavour to meet tight deadlines, without compromising on our high standards in quality.”