Joe Martoccia gave a colourful account of his experiences in the UK board manufacturing industry and outlined growth plans for Vertex Panel Products Ltd, the company he bought this year from George Reynolds, at the recent Plywood Club of London meeting.
Mr Martoccia entered the industry in 1986, joining Caberboard Ltd which he described as “pioneers”.
He said: “When I first came into the industry, the UK imported more than 65% of its chipboard requirement. Today that figure is down to 30% and could be lower still if UK producers focused on the real issues instead of resorting to the disgusting tactics we have been on the end of since the beginning of Vertex.”
In 1998, having spent 13 years with Caberboard Ltd and Glunz UK – which latterly became CSC Forest Products, where as group sales director he was responsible for £225m of the company’s £250m turnover – Mr Martoccia was headhunted by Kronospan.
He was appointed deputy managing director, commercial, and said: “It’s safe to say that if I had not experienced the three years at Kronospan I would not have been able to conclude the acquisition of the Reynolds chipboard plant or indeed have the wherewithal to run Vertex.”
With the industry in a downward spiral since the late 90s, many questioned the decision of Mr Martoccia and his three partners to buy a chipboard plant. But he is confident and said: “We now have the opportunity to try and make a difference.”
Production at Vertex has already been ramped up from an estimated pre-purchase 170,000m3 per year to 220,000m3 per year and there is a maximum target of 300,000m3 although that will require additional investment.
Mr Martoccia said things would get really interesting from year three onwards and added: “We have a number of blue-sky ideas which it is too early to share but, without a doubt, they will involve adding value.”
