Technoset Ltd, a leader in precision machining, has engaged with the Warwickshire Manufacturing Growth Programme to expand its operations and tackle key business challenges.
The programme is delivered by Oxford Innovation Advice on behalf of Warwickshire County Council and Warwickshire’s five District and Borough Councils.
Founded in 1978, Technoset Ltd is renowned for manufacturing high-precision components using state-of-the-art Multi Axis CNC Machines. Located in Rugby, Warwickshire, the company produces a wide range of components, including turned products from 0.4mm to 65mm and milled parts up to 800mm by 400mm. They work with a wide range of common and more exotic materials including Titanium, Inconel, Aerospace Alloy Steels, Brass, Copper and General Engineering Steels.
After diversifying over the past few years, the company now has customers in Green Energy, Hydrogen, Telecommunications, Medical, Motorsport, and Automotive, reducing their prior reliance on the Aerospace sector, which now constitutes 25% of their business. The company's turnover increased from £2.4 million in 2022 to £3.2 million in 2023, with projections to reach £3.6 million in 2024.
Technoset Ltd faces several barriers to growth:
- Skills and Staff Shortages: Challenges in recruiting skilled staff despite efforts through various channels.
- Customer Payment Delays: No concerns over cash flow but delayed payments are more often in current times.
- Expansion Needs: Plans to build a mezzanine floor to accommodate staff and purchase new tooling to support growth in the Communications sector.
- Economic Uncertainty: Potential impacts of global economic conditions and governmental changes on business operations and funding.
Through the programme, Technoset Ltd received valuable guidance and connections to various support systems. The Warwickshire Manufacturing Growth Programme provided Technoset Ltd with key support to navigate these challenges. The programme facilitated referrals to the Warwickshire County Council to support with expansion of their unit and necessary tooling purchases. The programme also connected the company with the Warwickshire Skills Hub for staff training and supported them in hosting one of the programme’s Supply Chain workshops enhancing networking and collaboration opportunities across the region.
After engaging with the programme, Technoset Ltd is on track to create three new positions by September 2025, further supporting their growth ambitions. The support has laid the groundwork for continued expansion into new sectors and enhanced collaboration with their customer base.
In the future, Technoset Ltd aims to grow its business across various sectors, leveraging their precision engineering expertise and expanding their market share.
Adam Land, Operations Director, said of the programme, “I found the Lean workshop really useful, not only a good reminder of all the reasons I push these projects but great to meet others. I am hoping we may be able to do some work with other clients as well which is brilliant.”
Michelle Connor, Manufacturing Growth Manager for the Warwickshire Manufacturing Growth Programme paid homage to their engagement with the programme, “Technoset Ltd have engaged with the Programme in the initial stages and have been most supportive in terms of attendance at all the workshops and hosting the Supply Chain workshop.”
Michelle’s work with Technoset Ltd exemplifies how manufacturing businesses can identify and remove barriers to growth by utilising local business support programmes. Thanks to the programme Technoset Ltd are even closer to achieving their growth objectives, setting a benchmark for other ambitious SMEs in the region.
The Warwickshire Manufacturing Growth Programme is part funded by the UK Government through the UK Shared Prosperity Fund (via Rugby Borough Council) and Warwickshire County Council.
Councillor Martin Watson, portfolio holder for Economy at Warwickshire County Council, said: “The Warwickshire Manufacturing Growth Programme supports our ambition for Warwickshire to have a thriving economy.
“The programme directly supports manufacturing businesses across all sectors by helping them to grow by identifying, understanding and removing their barriers to growth. Local businesses can access one to one support from specialist manufacturing advisors, digital diagnostic tools, workshops and cohort-based small courses through the Warwickshire Manufacturing Growth Programme.
“It’s great to see the impact of the dedicated support provided to Technoset Ltd, helping them to identify and overcome their barriers to growth. This has led to the organisation being able to create new job roles and ultimately support their growth ambitions.”
Cllr Louise Robinson, Rugby Borough Council portfolio holder for Growth and Investment, Digital and Communications, said: “It’s great to see how Technoset is innovating, collaborating, and leveraging the support available to ensure the business keeps pace with change and continues to meet customer needs.
“Rugby has a strong manufacturing heritage and Technoset is part of that and part of ensuring we have effective local supply chains to feed other businesses into the future. This is all an essential part of our local economy.”
For details about the Warwickshire Manufacturing Growth Programme, visit: Warwickshire Manufacturing Growth Programme
For more information on Technoset Ltd, visit: www.techno-group.co.uk