My company is SPECTRIS.
After viewing company site –
After receiving my company, I hoped straight on google to find out some more information on the company, as I had never heard of it before. After reviewing the companies webpage, in short, Spectris is a supplier of product-enhancing instrumentation and controls, an electrical equipment supplier in the UK.
After reading through Spectris website and reviewing the annual reports for the last 3 years, I came to the conclusion that Spectris operations and activities mainly include providing high-quality instruments, expertise and associated software to specific technically-demanding industrial applications. Their main goal is to improve customer satisfaction by enhancing customer productivity and assisting with work better, faster and more efficiently by outlining clear benefits. This is highlighted throughout the annual reports.
Background information on Spectris
- Founded in 1915 by Sir Richard Fairey as the Fairey Aviation Company Ltd, with the objective of manufacturing seaplanes
- The company steared away from aviation in the 1950’s and by the 1980’s, the Business was acquired by Pearson plc and the focus then shifted to high technology businesses such as electronics and engineering systems. 1990’s – company focussed on its electronics sector acquiring a number of new companies and disposing of the electrical insulator and hydraulic actuator businesses – 1999 Servomex plc, an industrial instruments manufacturer was acquired – 2000 The acquisition of the four instrumentation and controls businesses of Spectris AG of Germany for £171m was the largest ever made by the company and marked an important strategic addition to the company’s instrumentation and controls business.
- Throughout 2001-16 the business acquired several business’s and suppliers including Millbrook, a leading providers of vehicle testing and engineering services
- Recently in 2018, Spectris acquired Concept Life Sciences, which provides integrated drug discovery, development, analytical testing and environmental consultancy services, mainly in the pharmaceutical, biotechnology, agrochemical and environmental sectors. They also acquired Revolutionary Engineering.
Having difficulty with understanding?
- Is hard to translate figures from UK into what they would be Aus – annual report states $1604.2m Euro for sales which is up 5% from last report
- Was hard to know what to look for in the annual report. There was nearly 200 pages of information so I did not know what I needed to search for. Have been trying to read reviews and did find a good review of the company
Review: - https://www.glassdoor.com.au/Reviews/Spectris-Reviews-E10149.htm?countryRedirect=true
Areas that seen crucial or important?
- Four business segments which reflect the applications and industries they serve (industrial controls, materials analysis, in-line instrumentation, Test and measurement)
Key challenges? How are they meeting challenges?
Meeting KPI’s – It was noted throughout all the annual reports that management continuously put performance measures in place to better assess the underlying trading performance of the business
From strategic renew:
- Organisation would benefit from becoming a more focussed and simplified business
Successful?
Reading through the annual reports, it is obvious that they have been successful over the years as they have evolved and acquired a number of business’s and suppliers
Their strategy:
Providing high-quality instruments and expertise and focus on specific high-growth markets. Basically – The provision of technology-enabled solutions, based on high-qulaity instruments, application capability, domain expertise and associated softward and service offerings is the core of the strategy.
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