Year End Letter 2022 and Season's Greetings

Dear all,

This time last year, I reflected that 2022 was looking exciting. Here in the UK the impact of Coronavirus was reducing thanks to the successful vaccination program. Foreign travel was becoming feasible as other countries started opening their borders. What a difference a year makes.

As the world began to move again, demand for oil & gas was increasing and our order book started to grow. The supply chain issues continued to be a challenge, all of which have since been exacerbated by the Russia – Ukraine conflict which, ironically, has stimulated even greater demand for our products.

We have been rising to the challenge. Deploying and honing all the purchasing techniques developed during the Coronavirus period, including using trusted grey market sourcing houses and by designing around shortages of safety critical components. That required support from our notified bodies who responded speedily to our requests for re-certification, to whom we are most grateful.

Whilst lead times have improved, they remain far too long for our liking. We are working tirelessly to improve them. We thank you for your patience.

Our optimism twelve months ago has proven to be well founded. As the year end approaches that feeling remains the same with a strong order book boding well for 2023. We have exciting growth plans for next year, including investment in automatic test equipment, and further expansion of the work force

A very special vote of thanks to all my colleagues in Malton, Houston and Leeds who throughout the year have been determined and resourceful. Consistently going the extra mile getting product out of the door, maintaining high quality, meeting our customers needs, honouring our obligations.

Once again I wish you and yours all the very best for the holiday season and for a healthy, happy and hopefully peaceful 2023.

Best regards