January 2021.
CPC Solutions announces growth of 37% YOY, and projects further gains in 2021 as we have started the new year with backlog that is 65% of 2021 target.
In 2021 CPC did a major step forward to become a ILS 100M company.
Growth is always a good news story. But against the backdrop of a crisis that has ground a number of manufacturing supply chains and facilities to a halt, CPC Solutions has definitely bucked the global trend. For our review of 2020 we sat down with Dov Harpaz, CPC Solutions' CEO & owner, for a talk about uniquely challenging year.
So was it good luck or good management?
“A bit of both! I suppose we have been luckier than others” reflects Dov, “because it’s uncertain times, and as a contract manufacturer our entire business model is set up to deal with uncertainty. But, at the same time, our long term strategy is paying off.”
“we made a strategic decision several years back to target verity of markets beside the defense and aerospace sectors which have suffered recently. In the last 20 years we have focused on industrial electronics and medical devices which is where we believe a number of long term opportunities lie. We have recently won key clients in pharmaceutical and we are ploughing investment into agri-tech.
“I am optimistic,” says Dov, as he discusses the fortunes of the company over the last year, and their plans for the future. “We have got a strong client base, long-term partnerships and we are continuing to support OEMs at the forefront of technology in sectors that are becoming increasingly important. We have delivered growth last year and we have got a plan to deliver again this year as we continue along the road to ILS 100 million.”
How has COVID-19 impacted business?
It's impossible not to mention the impact of COVID-19, as we review the year. It’s overshadowed everything in the sector, bringing into question the strength of supply chains, CPC Solutions' models and the whole structure of the global manufacturing system.
But, as Dov says, CPC Solutions' strategic direction has so far insulated it from its worst effects. It has also underlined the company commitment to its core values which are to ‘support, delight and challenge’ the clients they work with and their internal teams.
Teamwork brings rewards in the COVID-19 crisis
It was the job of the senior leadership team to try and provide a level of clarity for workers and dispel what were becoming increasingly damaging myths. Arguably this was one of the most challenging times for CPC Solutions in the crisis, particularly due to the confusion around phrases such as ‘essential businesses’ and ‘key workers’.
"But thanks to the efforts of our people," he says, "their flexibility and the agility of our operations - we kept our facility open and continued delivering for our clients. That is testament to our teams’ commitment to the business and how we function as a whole.”
Growth through investment
With their heritage and growing capabilities in the industrial electronics sector, CPC Solutions is a force to be reckoned with. As Dov describes it:
“We are far more than just a contract manufacturer; we are a service provider with a history that dates back to the early 80’s. It’s one of the reasons the majority of our customers we trade with today have been partners for decades:”
There is no doubt that 2020 has been a challenging year across the manufacturing sector and there is huge uncertainty about the future. But Dov and CPC remain optimistic that their continued investment in people, process and technology will continue to deliver real value for clients working in sectors that are ripe with opportunity.
‘Alongside the precision electro-mechanical machines we build on behalf of our clients, we also supply the electronic ‘brains’ that control everything. We are genuinely an end-to-end solution provider for OEMs operating in the industrial electronics ; a one-stop shop when it comes to building, testing and delivering complex electronic and electro-mechanical products."