02 August 2018
Trakm8, a leading telematics and data supplier to global markets, is expanding into a new manufacturing facility.
The company, which owns Route Monkey, has announced plans to invest circa £1.5 million in a new 1,500sq m factory, increasing its production capacity to around 1 million telematics devices per annum. The investment in automated assembly and test equipment will also increase manufacturing efficiency and further enhance quality. The new building is only approximately 30 metres away from Trakm8's headquarters, retaining the operational benefits of being on one site.
Trakm8 is one of the only telematics providers that designs and manufactures its devices in the UK, and holds the Made in Britain marque. The company supplies a wide range of customers in the fleet, automotive and insurance sectors.
John Watkins, Executive Chairman of Trakm8, said: “These new facilities will support Trakm8 as it continues to grow and meet customer demands. Demand in the second half of the current financial year is expected to be strong as new contracts in the Insurance and Fleet sectors deploy and the growth in the Automotive propositions scale out.”
“We are confident that this investment will be sufficient for the next few years and look forward to making the most of the improved office space and expanded manufacturing facilities.”
Trakm8 has agreed a 10-year lease for the premises, which is opposite its headquarters in Coleshill, West Midlands. It will relocate manufacturing operations into the new building, freeing up space in its HQ for additional offices. It will phase the transition over a period of three months to ensure that current production is not disrupted.