Last week saw us attend our first industry trade exhibition of 2015, Med-Tech Innovation Expo. This was the first Medical Industry focused exhibition that we have ever done and we were keen to explore the potential for growth in this particular sector.
Medical Moulding currently delivers around 35% of our annual turnover and we felt the show would provide a benchmark of our services against our competitors. It also allowed us to gain a better understanding of the industry requirements to enable us to plan for future potential growth.
Extensive renovation works that have taken place here over the last two years have created the space to consider adding additional moulding machines to our facility. We were keen to find out if there is enough demand in this important sector to create a dedicated clean medical moulding area, or if we should look to expand our capacity for technical moulding in to other industry sectors.
Med-Tech Innovation Expo was held at the Ricoh Arena in Coventry on 29th & 30th April. The pre-show buzz was positive with a high number of pre-registered visitors due to attend.
Although quiet at times the two day event has generated some positive business leads for us with particular interest in our Development Tooling which can also be utilised for low volume production runs.
Through conversations with those visiting the show and other avenues of research, we now have a clearer understanding of the way forward. We believe that as a business we would best serve our customers by continuing to develop our processes and enhance the good clean practice for medical and technical moulding. There is a clear path for us to grow our market share in both areas without investing into full clean room facilities and having to increase our charge rates to accommodate it.
We look forward to exploring new projects further with the prospects from the show and further promoting our plastic injection moulding services to the medical sector.