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A hot tip for 2009
Page 18
Page 19
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From the boom of 2008, Wilcox Tippers, like other companies, is now looking at bleaker times. But two of the firm's directors are far from running scared.
Words: Andy Salter / Images: Tom Lee
THERE WONT BE many business conversations in the coming months that don't kick off with a "how is it for you?" assessment of the economic conditions. The general gist will no doubt be similar, and depending on how the glass is viewed will dictate the level of gloom passing back and forth between those entering into such talks.
So, as you might expect, any CM interview will commence with a similar ice-breaker. Now, these largely go unreported, but in our discussions with Vito Ronzano and Chris Bartlett, the co-directors and shareholders at Wilcox Tippers, we were surprised and — we don't mind admitting — more than a little bit excited by their forecast for the coming year: "We've set our 2009 budget and are looking at a growth of 8%," Ronzano says.
Bigger and better
Yes, you read it right. Wilcox is pushing for significant growth in 2009, and the management team is determined to achieve that. "We are diversifying our product line-up; we have strengthened our sales team and have a production facility that needs to be filled," Ronzano reveals. "The budget has been set up and we will strive to achieve it."
It is eight years since Ronzano, managing director, and Bartlett, sales director, took over the reins at Wilcox Tippers. The company has a strong pedigree in aluminium tippers, built
at its Market Deeping factory in Cambridgeshire. Despite the fact that at the time of the takeover in 2000 the company was in a sorry state, the foundations are now in place. These should ensure firm footings for the testing times ahead.
"We're constantly looking to build on our strengths and add value to our customers when they require our assistance," says Ronzano. "The waste and bulk business is an area we are looking into at present.
"Previously,Wilcox has been involved in many areas of freight transportation, and we still have the drawings and knowledge of the range of products that were in the line-up, but we want to be good at what we do and not overstretch ourselves."
Order books
Clearly, Wilcox has plenty of options open in the future, but the focus is on generating sales volume for now, and to this end Mark Rouse, former sales director at Wilcox, and more recently managing director of Rouse Bodies, has returned to the fold, bringing his wealth of industry knowledge to bear in the trials ahead.
Ronzano isn't denying things will be tough in 2009. Indeed, his own analysis demonstrates this. He says: "2008 was a record year. The company generated revenues of Dm in the 12-month financial year ending November 2008. "But we have seen a dramatic slowdown,
with many cancelled orders in the past six months. In December 2007 we had £5m in forward orders, with lead times stretching to early 2009 delivery.
"The picture is different today, with less than half the value of new orders on our books for 2009. On the plus side, though, the orders are much more concrete than they were a year ago, when we knew there were quite a few 'phantom orders' in the system."
Profitable promise
In the longer-term, Ronzano has ambitious plans for growth, which, if events had played out differently, may already have been taking shape.
Back in 2003. Wilcox was poised to take over Fruehauf from its administrators. Ronzano picks up the story: We had everything in place to close the deal and had shook hands with the administrator, only to be outbid in the final hours by the current owners. We had a plan in place that would have protected the jobs and would have ensured that manufacturing remainei at the site in Dereham."
That's all history now. If anything, i has galvanised the management tean to work harder in order to unlock th, undoubted potential of Wilcox.
There is a further 2.5 acres of th Wilcox site that Ronzano has markel for further development, and whil there will be some pain in the commn months as margins begin to tighten an business gets that bit tougher, ther won't be many betting against Wilco surviving and coming out of th recession in good shape. • FOR THE LATEST NEWS Inuit wwwroadtransport.comicm