PREA Ltd: 2021 In Summary
PREA is a leading global consultancy established over 25 years ago specialising in the polymer industry. CEO, Pravin Mistry, reflects on the year and will be available for contact between Christmas and New Year.
PREA is a leading plastics consultancy based in Manchester, with offices worldwide. The company specialises in Management Consultancy, Recruitment and Polymer Consultancy for the pharmaceutical, medical, engineering and other manufacturing markets.
Pravin Mistry, CEO of PREA Ltd, reflects on the ups and downs of a tumultuous year:
“Well, what a challenging and another unpredictable year we have all had. As a company, PREA Ltd has had to adapt and change how we operate and serve businesses in the plastics, rubber, composites, adhesives and polyurethane sectors.
“Some sectors, including pharmaceutical and medical, have overtaken others such as aerospace and automotive this year. Our clients range from small family businesses to multinationals and have been adapting to market conditions through our guidance. They like our approach since we are from the industry and speak the same language, it helps to be time served and still working in the industry!
“On the mergers and acquisitions side of the business, since returning in October 2020 we’ve come back with a boost. We have been working with strategic and other investors in acquiring and selling companies globally. There was always a lot to do with preparation for sale, due diligence and acquisitions, restructuring. Let’s just say it kept us busy! In addition, we’ve had to recruit employees for these businesses and in some cases, offer outplacement services.
“In addition, the recruitment side of the business is at an all-time high, and we are currently recruiting for several positions both nationally and globally. We have been recruiting from director level to sales, technical operations, and again there were more vacancies to fill than candidates available. We have noticed people of a certain age (time travellers!) have learned they can live on lower incomes, prefer a better work-life balance, and retire early. In addition, there has been some serious negligence and ignorance in training over the years, leaving candidates with limited ability to fill new roles. To fill this void, our team of consultants have been bridging the gap.
“We have been restructuring companies and focusing on training prior to, and during COVID, and working on safe working conditions with staggered work patterns.
“Something that I personally wanted to do when working years ago, was to have a four-day working week. I can remember at the time the CEO thought it was a crazy idea! What we did end up implementing was having some employees working Monday to Thursday, and others Tuesday to Friday. Not only did it improve productivity, but it improve staff mental health, reduced stress, reduced sickness and absenteeism, and was a win-win for all. We still did face some opposition from business owners and employees, but attitudes are certainly changing around working patterns and the traditional 9-5.
“Personally, I have been busy for the last 19 months working as a part-time Chairman for a composites company for 5 months, as an Interim CEO for a thermoplastics company, a full time and interim Managing Director, full time 6 months for a rubber moulding company, from SMEs to multinationals.
We have adapted our technical consultancy services to offer video call services via teams or zoom, to help our clients with formulations or with processing queries.”
PREA will be open between Christmas and New Year with limited staff available, enabling clients to be served throughout the festive period. To get in touch, use the details below.
Prea Ltd
0161 207 8007
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