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Welcome to our first newsletter of 2025. I remain optimistic for 2025 but the raft of poor economic and geopolitical news is unrelenting.
First of all let me welcome the staff and customers of VIKiNG Tapes to the TECHSiL family. It is exciting to now have a 3M Premier Partner in the Group and this acquisition really bolsters our range of bonding product solutions.
Then I must go on to address the issue of price increases. My desk is full of manufacturers increasing prices right now and we are living through some tough product inflation and also some governmental regulatory cost increases. I hope things can stabilise after Easter and I’ll be glad when we’ve seen the back of these.
The latest PMI makes sober reading and it is clear that business confidence amongst manufacturing has dipped sharply. We’re facing material cost inflation, weak demand,
low customer confidence, higher labour costs, job cuts and low export orders all of which is intensifying in a vicious downward spiral. There was a high optimism score & the new orders to finished goods stock ratio ticked up which usually indicates an improvement is coming.
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