New factory, significant new customers and projects pay massive dividends for The Stroud Group of Companies.
August 2019 was a transformative time for the Stroud group of companies. By the end of August 2019 both Stroud Metal Company and Stroud Plastics Company had amalgamated on to one purpose-built facility. However, that was just the start!
Over the following months The Stroud Group embarked upon their strategy to take fullest advantage of their new factory. “First order of play was to re-PPAP all products for our customers” said Matthew Large, Managing Director of Stroud Metal and Stroud Plastics. “Then came numerous customer audits ranging from basic compliance audits to full-scale VDA audits. We took the outcomes and actions from these audits along with our own requirements, to develop a Best in Class (BIC) Business Improvement Plan” continued Large.
The following months have seen the implementation of this plan to drive the company towards being best in their class and markets. The strategy is still in its infancy, but significant improvements have already been made. “In truth, the plan will never be completed. It’s part of our continuous improvement program and will be constantly reviewed, revised and updated” said Mr. Large.
The Group has already seen substantial benefits from actions taken, with a number of significant new projects for new and large “blue chip” customers. The first was for a multi-billion Dollar Global corporation that collaborated with Stroud to redesign a metal component, a corresponding plastic component and the assembly of the two. The result was a redesign and update of a current product for the customer. With annual volume of up to 10 million units per year, the project was vindication of Stroud’s strategy to bring both metal and plastic business streams together on the same site. Stroud receive additional income and margin from the added value work and remove both cost and risk for the customer.
Several other major projects are in the offing with a large new customer transferring a large quantity of production tooling to the Stroud site as part of a long-term supply agreement, three major deep draw projects for a global Tier 1 Automotive customers and a development project involving a major European grant consortium which was successfully rated No1 in Europe from the thousands of bids received. The latter will see significant new infrastructure and machinery installed in the new factory providing the group of companies with additional clean-room production capabilities and resource.
“Since moving in to the new site in Q3, 2019 we have become busier than ever and have a large number of projects to mobilise.” Advised Mr. Large.