March/April 2024

Glass Market
Cornwall Group – which includes Cornwall
Glass Manufacturing, Mackenzie Glass,
Cornwall Glass & Glazing, and the recently
acquired Birmingham-based Forward Glass – has
its eyes set on a profitable year, even though the
challenges facing the industry are significant.
“If you look at the commercial sector – which is the
source of a lot of work for companies like Cornwall
Group, and indeed many glass companies in the
UK – many short-term investment decisions have
been put on hold,” Cornwall Group’s Chairman
Mark Mitchell says. “Which means many project
starts have been delayed.
GLASS PROCESSING & SEALED UNITS
ONE STEP AHEAD...
Cornwall Group’s Chairman, Mark Mitchell, explains why
the organisation is still committed to investment, despite a
‘bumpy year’ ahead. Total Fabricator reports...
“One significant challenge for us all is the rate of
inflation, which we hope will level off and perhaps
settle at 3% or 4% before Christmas. The same
goes for the cost of borrowing and interest rates,
which we hope will follow a similar path to
that of inflation. Right now, they are barriers to
short-term investment, and as a result we are
anticipating a challenging year.”
Despite this, Mark expects the Group to maintain
a turnover similar to what it posted in 2023, even
if other factors will contribute to an overall level
of uncertainty and instability.
“Yes, 2024 will be bumpy for most of us,
but if you can keep one step ahead of
your requirements, then you’ll be
ready for a more positive 2025”
Mark Mitchell
“I’m sure other glass companies are experiencing
what we are experiencing, which is lowerthan-projected
order levels, and glass prices
dropping,” he says.
“There is a lot of glass stacking up, and that
means that the prices have softened. It would
be a sad day if we see one of the float tanks in
the UK being mothballed or taken offline, but
currently it is hard to justify the three glass
manufacturing plants that are in the UK currently.
“And that’s concerning, because it’s not
sustainable and we need healthy competition.”
But the situation would be much more worrying
if you were a company dealing with problems as
they occurred, and didn’t have a five-to-ten-year
plan in place, according to Mark.
The decision to acquire Forward Glass, for
example, was made months ago, and it
fits Cornwall Group’s medium to long-term
strategy. Furthermore, the company is already
committed to buy new plant and machinery at
the Birmingham site, and will be introducing an
apprenticeship programme. “This will make us
stronger for when the market improves in a year
to 18 months’ time,” Mark says.
This is a strategy that Cornwall Group is
already following across its other sites. Recent
investment across Cornwall, Devon and Somerset
include: a new sealed unit line, a new heat soak
oven, a new cutting table, and new vehicles, to
name just a few.
“If you order a new toughener, then it will take a
year to arrive, and a new purpose-built lorry will
take at least nine months,” Mark explains. “So,
you’ve got to be one step ahead.
“If you don’t constantly invest in your business,
then when the market picks up again in 2025
– when we expect to see a return to normalised
trading – you won’t be prepared to make the most
of those opportunities.”
Mark admits the Cornwall Group of companies
is in a stronger position than many other glass
companies of a similar size, because of the way it
is structured.
“We are still family owned, and we plough all our
profits back into the company,” Mark says. “This
is why we own all the buildings we operate from,
and why many colleagues stay with us for most
of their careers – from apprentice to MD in some
cases.
“For those companies that are owned by private
equity firms, often there isn’t the same longterm
commitment. If the short-term growth
isn’t forthcoming, there may be some awkward
conversations at board level.
“Yes, 2024 will be a bumpy year for most of
us, but if you can keep one step ahead of your
requirements, then you’ll be ready for a more
positive 2025.”
Watch the video at glaze-tube.co.uk/cornwallgroup-views-of-2024/
Contact Cornwall Group:
01726 66325
www.cornwallglass.co.uk
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