Reel insights: Philip Young on Inosym’s 2024 performance and industry trends

The first half of 2024 has presented its share of challenges and triumphs in the global market. To understand how these trends are impacting the wire and cable industry, I recently spoke with Philip Young, Managing Director at Inosym, a leading reel manufacturer. Here’s what he had to say:

Reflecting on the first half of 2024, how would you summarize Inosym's performance compared to the previous year?

We're experiencing a busy period in the factory, with production slightly exceeding the previous year.

Have you observed any significant shifts in demand for reels and drums?

Business remains strong in the United States, and we're seeing exciting growth in Mexico. Eastern Europe has presented big challenges, particularly in Russia. However, demand is healthy in North Africa and Western Europe, with countries like Portugal and Spain showing particular interest.

What factors drive demand for your products?

Our reels are in high demand wherever new plants are being built for wire drawing, extrusion, and stranding operations.

Considering Inosym's location in New Zealand, how do transportation costs impact your operations?

We've been navigating freight challenges for over two decades. Fortunately, our customers understand the situation and continue to choose us for our quality and service. We also have a dedicated logistics team that helps us provide effective solutions.

Has Inosym introduced any new product lines or innovative technologies recently?

While the reel industry itself is fairly traditional, we've implemented significant changes in our manufacturing processes. We now leverage dedicated robots to streamline and automate production.

What separates Inosym from the competition?

As the world's largest reel manufacturer with a workforce of 250, we have the capacity to fulfill any order, regardless of the reel type. We boast a dedicated engineering team that allows for rapid adjustments, excellent customer service with a strong agent network, and a well-recognized brand that inspires trust. Customers know they can rely on Inosym for exceptional service.

What are your expectations for the remainder of 2024?

Since our business is driven by demand, we don't directly influence the industry. However, with positive economic outlooks in North America and Europe, we share that optimism and anticipate a positive year ahead.