New member: Telestack
Welcome to our new member, Telestack. We met up with Managing Director, Martin Dummigan and asked him some professional and personal questions.
Tell us a bit about your business?
Telestack has been in its present guise since 2001. The original owners sold the Company to local Management in 2008. They strengthened and morphed Telestack into an established brand known in the market for radial tracked material handling conveyors. In 2014 Telestack was acquired by Astec Industries from Chatanooga USA. Astec is a Stock listed Global business with three major Divisions namely; Aggregates and Mining, Energy, and Infrastructure and Telestack falls under the Aggregates and Mining group of Companies. There are many Global brands under the Astec umbrella.
Tell us something about yourself that other people may not know?
Since 1998 I have lived in Ireland for only two full years. I have been wandering the world on business from South Africa, Japan, USA, England, India, Egypt and my last stint was 5 years in China. I feel I have been very fortunate to have had experiences of many different business and local cultures.
Currently, what are the three biggest challenges for your business?
1. Lack of skilled talent and the local competition for the same, we cannot get enough people on time
2. Brexit, over one third of Telestack business are exports to the Eurozone, all business has a major problem brewing there and
3. Space; the business is growing rapidly and we are bursting out of our clothes
Why have you decided to join Business in the Community?
We have decided that it is time to raise our profile in the local community and stand up to our Corporate responsibility to give something back, both to our young, and disadvantaged people, and to our Environment. Also, by connecting with local businesses we hope to gather and share best practices.
If you were given £1 million to tackle an issue facing society in Northern Ireland, what would you choose to do?
Economic growth and prosperity is something that has to be nurtured from one generation to the next. Our political institutions do not give our young people hope that they have any plan for their future, so I would take the £1M and turn into 50 sponsored University placements for the most talented young people in our society, and spread it over Engineering, IT/AI, and Pharma/Medicine where the smart future lies for our Economy.
Where do you see your business in the next five years?
It is very difficult these days to forecast. The Global economy is slowly healing from 2008. In general the year ahead, 2017, for us anyway, will be very good. The year after, 2018, is harder to predict. If President trump can actually execute on the US infrastructure promises he has made, we will see the benefit almost immediately, as will many Companies in Tyrone. 2019, is the Brexit crunch year, who knows where that will take us as the UK Government have an ambiguous approach at present. After that, economically we are all in uncharted water. However, based on all of the above, our Business will be agile enough to navigate, we are not sitting on our palms with our fingers crossed.