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Sheffield's traditional manufacturing companies are refusing
to be cowed by painfully high sterling exchange rates in prime
export markets, according to Master Cutler Vernon Smith.
Many are now turning to design innovation and production
engineering skills to find ways to reduce the price of new
goods aimed at export customers, said Mr Smith, after touring
the production lines of 150 year old engineering specialist
Edward Pryor & Son.
During a visit, Mr Smith was shown new hand held and laser
powered marking equipment, designed by the company to sell
overseas - and bring back a respectable profit margin.
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Mr Smith said: "This is the right approach. Rather than sitting
back and moaning about exchange rates which are no longer in our
favour, here is a company that has taken a long cool look at the
economics of exporting in 2001, and applied these to products which
will sell. It is an example of how manufacturing industry, particularly
the engineering sector, is reshaping itself, both for survival and
for prosperity in what are harder, tougher trading times.
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Rather than sitting back and moaning about
exchange rates which are no longer in our favour, here is
a company that has taken a long cool look at the economics
of exporting in 2001, and applied these to products which
will sell.
Vernon Smith,
Sheffield Master Cutler
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Edward Pryor, a world name in marking equipment, employs
around 250 people on the edge of Sheffield city centre. Like
other companies, export business has been hammered by high
sterling values, but managing director John Tissiman is confident
that the new approach will pay off.
"These are world class products, designed to be marketed
and sold right around the globe. Their quality is assured,
but they are now designed in such a way that we can reduce
manufacturing costs to a minimum, thus giving us a much better
chance of competing in export markets."
Edward Pryor, a world name in marking equipment, employs
around 250 people on the edge of Sheffield city centre. Like
other companies, export business has been hammered by high
sterling values, but managing director John Tissiman is confident
that the new approach will pay off.
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"These are world class products, designed to be marketed and sold
right around the globe. Their quality is assured, but they are now
designed in such a way that we can reduce manufacturing costs to
a minimum, thus giving us a much better chance of competing in export
markets."
Mr Smith added: "I know from my visits to other sectors of local
industry that this sort of approach to overseas selling is being
adopted in a variety of ways. Sheffield can still make the products.
If we can do so at a cost which allows us to compete on price as
well as quality, then we can shrug off the worst of our exchange
rate problems."
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