SOMERSET, England — September 19, 2024 — Nonwoven fabric-tech company Nonwovenn has recently achieved a major milestone of 18 years of consecutive profitable growth with the current financial year delivering a turnover of 45 million pounds with a 20-percent increase in EBITDA. The business is also now targeting an ambitious goal of growing turnover to 80 million pounds by 2028.
Picture by Roger Moody / Guzelian
The 4-year growth plan comes off the back of an extensive 13 million pound business transformation program which has included significant self-funded capex investment in manufacturing, plant and equipment, an end-to-end operational efficiency program and an enhancement in R&D and innovation capability.
In addition, the executive team has been strengthened with senior appointments across finance, human resources, operations and sustainability, with the most recent appointment being industry luminary Silke Brand-Kirsch as commercial director, who will be spearheading the internationalization and growth strategy.
The focus for the next four years is to build upon the businesses leading position in niche, high value, high growth segments established in markets across the United Kingdom, Europe and North America, as well as delivering to a broader global audience. Central to the businesses value proposition will be an increased focus on innovating and delivering world class technical fabrics that are used in products that enable harm reduction across every aspect of life.
Commenting on the growth trajectory, David Lamb, chairman of Nonwovenn, said: “To have 18 out of our 21 years be profitable is something many businesses only dream about. We are incredibly proud that even in a sector that is under so much pressure, we have continuously achieved profitable and sustainable growth. It is largely thanks to the investments made in the business to improve our products, streamlining our systems, and the market leading board we have built.”
“We are looking to double our turnover in the next three to four years, with profits growing at a similar rate. We chose to create a new board to drive this growth forward and bring in the expertise needed to enable the internationalization we are aiming for. It’s a very exciting time for the business and we cannot wait to see where the next few years take us.”
Commercial director, Brand-Kirsch added: “We are really looking to expand into the North American and European markets initially, and then look to branch out even further. Our offering plugs a gap in the market, and with our leading research and development, expert board team and focus on sustainable and innovative growth we can continue to give the market exactly what they need.”
Posted: September 18, 2024
Source: Nonwovenn
