Spectra look to build on a hugely successful 2017
Spectra Packaging is proud to confirm that last year was one of the most successful in the company’s history, revealing record-breaking growth figures.
The last twelve months sales figures show the company is well on course to fulfil its ambitious plan to double in size by 2020 as Spectra’s Managing Director, Joe Maynard explained.
He said, “As part of our long-term growth plans, we have targeted 15% growth per annum to reach our goal of doubling the size of the business by 2020. In 2016 we achieved 9.5%, yet in 2017 we witnessed in excess of 30% growth, which suggests we are on course to meet our objectives”.
The last twelves months have been an incredibly busy time for the Suffolk based converter and here we take a look at some of the notable highlights from 2017.
Growing for the future
In April of last year building work began on an extra 24,000 sq ft facility which will be operational by April 2018. Spectra has also committed further investment for additional machinery to meet the demands for the coming year.
With construction work now completed, the additional unit will swell the existing site by 50%, effectively doubling the company’s manufacturing space. Forever looking forward, Spectra has also made provision for a further 24,000 sq ft for the future. Moreover, the entire site was originally set up to support up to 200,000 sq ft of factory site, which leaves the company well placed for the long term.
Joe said, “Last year we witnessed unprecedented customer demand as the company continued to rapidly grow, the additional capacity will ensure we meet that growing demand. Our focus for the coming year is to consolidate on our successes whilst ensuring service and quality are maintained and although we are delighted with last year’s figures it’s in our nature to always look forward rather than back”.
Despite continued uncertainty about the potential consequences of Brexit, 2017 saw Spectra continue to make significant footholds in several European territories with export figures exceeding 32% growth.
The company's dedicated Export Sales division continued to work tirelessly to expand Spectra’s overseas presence with notable successes in France, Germany and Scandinavia, aided by a network of trusted European distributors and partners.
Spectra’s European visibility was also boosted by a highly successful debut appearance at PCD Paris in January, an event so fruitful, the company has decided to appear again later this month. To take advantage of growing sales in Germany Spectra also plans to exhibit at Cosmetic Business in Munich in June 2018.
Export continues to be an integral part of Spectra’s continued success as Joe was quick to point out. He said, “Our decision to bolster our Export division over the past couple of years has reaped rewards, providing us with an excellent platform to build our reputation beyond our domestic customer base”.
He added, “Although it is difficult to predict the long-term effects of Brexit, we are well placed to continue making inroads into what is a very important market for us”
A desire to innovate
2017 also saw Spectra continue to innovate with new product offerings and solutions designed to inspire customers looking to stand out from the crowd.
At Packaging Innovations at Birmingham’s NEC in March, Spectra unveiled their new disc top closure (Ref: 3033) as the company continued to grow its range of injection moulded components. Additionally, the firm’s latest innovative decoration offering, closure top foil blocking, was premiered at the same event, illustrating Spectra’s desire to give brands a leading edge solution for closures as well as containers.
As well as premiering new products at the Birmingham show, Spectra also used the event to unveil their latest prototype designs. The company revealed a range of distinctive packs, all branded to show visitors what can be achieved with innovative packaging - whatever the product application.
Similarly, Spectra premiered a collection of ground-breaking pack prototypes at Packaging Innovations London Olympia in September with The Skyline Range.
Based on iconic landmark buildings such as The Gherkin and The One World Tower and brainchild of Spectra’s creative in-house design team, this highly innovative range drew significant visitor interest at the show.
In the space of 10 year’s Spectra has cemented itself as a leading provider within the packaging industry and last year the company received recognition with an inclusion in the 1000 Companies to Inspire Britain list, a prestigious annual report published by the London Stock Exchange.
The report salutes some of the fastest-growing and most dynamic small and medium-sized enterprises (SMEs) in the UK, identifying 1000 vibrant companies across a diverse range of categories, including manufacturing, food and drink, creative industries, retail, technology and leisure including sustainably green businesses.
Spectra’s inclusion is a reminder of how far the company has come in only 10 years according to a proud Joe, who said, “To have been included in this prestigious report was a massive thrill for us considering the huge numbers of companies operating in the UK. In many ways, this is a tribute to our dedicated workforce who have wholeheartedly bought into Spectra’s vision for innovation and excellence”.
A big year for plastic
Last year highlighted the on-going issues surrounding plastics and its impact on the environment. The debate on the consequences of the material, and in particular single-use plastics, can no longer be ignored and as a responsible supplier Spectra fully recognise this.
With television programmes such as Blue Planet II and increasing media coverage, consumer awareness has been heightened and the plastics industry has a duty to step up to the challenge according to Joe.
He commented, “Research may suggest that many of the causes of marine plastic are the result of undeveloped, unlegislated dumping sites outside Europe and the US. However, we must all collectively embrace measures to counter the growing problem. Our view is a combination of better recycling, alternative material choices, responsible consumer behaviour and education could go a long way in dealing with the problem”.
For a number of years, Spectra has been pioneering new sustainable materials, in particular, Biopolymers and PCR Consumer Recycled (PCR), as it looks to offer customers environmentally friendly recyclable alternatives. The coming year will see Spectra continue to explore new sustainable polymers as it strives to provide greater sustainable choices for customers.
Each year the company continually looks at ways to improve its performance by using less power to make each component by investing in the very latest energy efficient machinery. Spectra acknowledges that sustainable responsibilities don’t just lie with its customers and as such the company continues to undertake a number of environmental initiatives themselves.
For instance, Spectra’s factory has used recycled materials in its construction, whilst utilising air source heat pumps, wildlife-friendly external lighting and low energy sensor operated internal lighting. Other measures include energy monitoring systems, energy efficient chilling systems and variable output compressors. The very latest plant, machinery and manufacturing technologies also contribute to the firm’s long-term environmental ethos.
Happy birthday Spectra
Ten years ago Spectra blow moulded its very first bottle from their original modest-sized site in Halesworth Suffolk. In the short time since, the business has gone on to relocate to its own purpose-built factory, steadily increase staff numbers, forge the trust of many leading high street brands and become a genuine force within the packaging industry.
In many ways 2017 will be viewed by Spectra as a pivotal point in the company’s history, offering a time to take stock and reflect on its successes thus far.
The next year will see further growth, a bigger factory and a tenth birthday to celebrate. Joe firmly believes the business is well placed to step up to another level as it enters the next chapter.
He said, “The journey so far has been a hugely satisfying one, we have achieved a huge amount in a relatively short period and 2018 looks set to be another exciting year for the business. We have made a number of brave and ambitious plans for the future because we strongly believe that standing still simply isn’t an option”.