Tewkesbury based Trackwise Designs sees half year revenues rise
Trackwise Designs, the Tewkesbury-based printed circuit technology company, has seen revenues rise to £4.1 million for the six months ended 30 June, up from £2.4 million in the same period last year.
In April, the company announced that it had bought a 77,000 sq ft freehold property at Stonehouse in Gloucestershire. The new site will enable Trackwise to significantly increase its production capacity to meet the expected demand for its Improved Harness Technology.
In September 2020 the Company signed a Product Manufacture and Supply Agreement with an electric vehicle (EV) original equipment manufacturer and expects future orders from customers in its targeted medical, aerospace, EV and also other industrial markets.
Trackwise will install an automated roll-to-roll IHT production line at the site with the intention of it being operational in the fourth quarter of this calendar year. The site has capacity for the installation of a second line in the future.
Philip Johnston, CEO of Trackwise, said: "The development of our third manufacturing site at Stonehouse continues, and we expect to see this completed early in 2022 to meet production demand from our EV OEM customer.
"More widely, we are confident in the opportunities ahead in IHT and we are seeing a fast-growing number of prospects for the application of this technology across our chosen markets. Alongside this, our Advanced PCBs division continues to deliver solid revenues.
"We are positive about the prospects for future growth for Trackwise and we look forward to providing further updates on our progress to the market."
