Business Profile: Telestack
Name: Malachy Gribben
Business: Telestack
Position: Commercial Director
E: malachy.gribben@telestack.com
T: (028) 8225 1100
Can you describe your business?
Telestack have over 30 years experience and are globally regarded as one of the world’s leading manufacturers in the global material handling industry. We design, manufacture and export a range of equipment for mining and quarrying, stockyard management, ports and inland terminals, power stations, rail yards, steel mills, cement kilns and many other bulk material handling industries.
Why did you start your own business?
I co-purchased the company in 2008 having over 20 year’s international experience in similar industries. Telestack had an excellent reputation in the industry and there was a great depth and breadth to the company’s product range. The potential growth was evident and it was very rewarding to see the company grow not only in terms of new products and market but also the rise in sales and employee numbers.
The business was sold to the American giant Astec Industries in 2014, which has helped accelerate new product development, innovation and growth.
What are the best things about running your own business?
Although part of Astec, we are left to run the business as if we still own it ourselves and this has helped us double our sales in the past four years. We are able to make decisions quickly, but we must always be accountable for those decisions. We are very aware that many local families rely on us as a company to provide a wage and a secure, safe and enjoyable employment. Our constant growth is extremely rewarding and we are a young and vibrant company with a healthy future.
What are the main challenges facing the business?
Finding the right people as we grow rapidly continues to be a constant challenge. We work extremely hard to ensure that we offer secure and long-term employment whereby people can feel protected and rewarded in their job. Some of the other main challenges are rising input costs and the uncertainty of Brexit.
What advice would you give to someone starting a business?
First and foremost it is imperative to have a clearly thought out strategic plan and secondly ensure that your team are all aligned in achieving the objectives of the business. Your team is absolutely critical in ensuring that everyone knows where we as a company are going and what is expected of everyone to help get us there.
Can you describe your experience of running a business in three words or less?
Rewarding. Challenging. Intense.
