Laser Wire Solutions Ltd (Pontypridd)

Origins

Laser Wire Solutions was founded to exploit the gap in the market for off-the-shelf, high-end laser stripping systems for medical device manufacture. Basic wire stripping devices existed in the market for larger cables used in the aerospace or consumer electronics markets, but there were no offerings available for precision medical applications. For medical devices, manufacturers were limited to mechanically stripping the wire which leads to quality issues. Where lasers were implemented in the process, the machines were bespoke, highly complex and expensive to build and run. Laser Wire Solutions focused on developing cost effective, compact laser machines to enable state-of-the-art manufacturing with an off-the-shelf solution. Laser Wire Solutions has since adapted and developed its technology to build solutions for other precision applications, such as cloud computing cabling and electric vehicle wiring.

Our main challenges when starting the business

The biggest challenge was to start out as a very small player with few key contacts in the industry. What Paul Taylor, as founder of the company, did have, however, was a deep experience of applied laser technology through over 20 years working on diverse projects, such as DVD manufacture and building optical atomic clocks. This knowledge was coupled with the willingness to work fast and deliver solutions to complex problems. This responsiveness gave Paul a foot in the door with large blue-chip medical device companies, who were struggling to find suppliers, who would or could develop the required solution.

Success Factor

There are three main factors underpinning the success of Laser Wire Solutions namely innovation – the ability to create advanced technological solutions founded on an in-depth understanding of laser physics and industrial processes; partnership - a willingness to work collaboratively and flexibly with key customers and suppliers to design and adapt solutions to meet specific applications; and responsiveness – the ability to respond quickly to customers with the desired information and systems at the right price.

The Future

The plan is to grow the company from £5.1 million (2017) to £15 million by 2021, whilst maintaining a healthy net profit of between 10 per cent and 20 per cent. This will be achieved specifically by continuing to innovate and expand the technology offering, creating solutions based on real customer needs as well as ongoing investment in IT infrastructure, quality systems and staff training.. This will encompass extending the line of precision laser wire strippers as well as adding new capabilities, such as laser micro-soldering and laser micro-welding. The latter will enable the delivery of a turnkey package to join the stripped wires to electronic devices, in particular ultra-small precision medical devices. Laser Wire Solutions also aims to grow its customer base in wire stripping as a service (particularly in the medical device market), broaden its geographical customer spread through its partnership with Schleuniger to include more European and Asian customers and ramping up volume sales of its existing Mercury, Gemini and Odyssey wire stripper ranges.