The improvement journey continues at IV Group
IV Group had, as earlier communicated, a great development during 2016 where considerable improvements where made throughout the company. Growth and cost cutting were the main drivers behind the very good financial- & operational improvements achieved 2016.
- 2016 was by far the best year ever for IV Group. Not only good financial performances were achieved. Vast improvements were reached in customer related KPI:s such as delivery- & quality performances as well as major efficiency improvements. A structured continuous improvement program, implemented in all sites, have played a major role in the positive development. Last but not least, a good foundation was also built for further growth with both current and new customers says Magnus Emeus CEO at IV Group.
Several indicators have continued to show positive development in 2017 through the implemented Policy deployment program.
- Our Policy deployment program create a way of working and an environment which basically drive improvements as you always have to set higher targets vs actual performance and on a monthly basis you need to present “corrective actions” if you are not achieving the targets. Throughout my career, after picking up this methodology during an 8-years tenure in the Automotive industry, this way of organizing the continuous improvement programs have always been very successful without exceptions concludes Magnus Emeus .
IV Techmould in Suzhou outside Shanghai is IV Groups biggest operation. They have been instrumental in the last 18 months development. Productivity improvements, installation of a new & efficient paint line, changed tooling strategy, re-building of management together with many other initiatives have all played a major role in the positive development.
- 2016 was the best year in the history of IV Techmould and the improvement journey continues this year with improvements in all key performance areas. In support of our customer’s needs, we also continue to make needed investments. This year we also further optimized work flow through layout changes in our factory. It’s very positive that our improvements are being recognized by both existing and new customers enabling us to win new project awards in a very competitive market , says Fredrik Carlsson, MD at IV Techmould
IV Microplast, in Leksvik Norway, have also had a good development during the last 18 months. Changes in management and several cost cutting activities have been carried out during 2016 leading to a much lower break-even point compared to before as well as much improved operational performance;
- In parallel to substantial productivity improvements we have also worked very hard with new sales initiatives which are vital for the long-term development of the company. This have paid off and we have been awarded new projects from new customers and are in advanced discussions with further projects with new customers. When adding the new customers to our business, we have created a new foundation for the company which will be very important for many years to come comments Magnus Emeus, acting MD at IV Microplast.
Industriverktöy, also in Leksvik Norway (tooling and machining supplier) are growing year by year. After seeing a good growth during 2016 the company is on course to further grow the business 2017.
- The growth is happening with both current and new customers and in all segments of the company. New tooling, maintenance & renovation of tooling and machining.
To support the growth, we have increased our capabilities & capacities by strengthening the organization. Our experience and expertise in is one of the main reasons why we have this positive development, says Kaj Vidar Sandvold, MD at Industriverktöy
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