ONTIC ENGINEERING & MANUFACTURING UK LIMITED
Company Information
- Company Number
- 06707516
- Registered Address
- Cleeve Business Park, Bishops Cleeve, Cheltenham, Gloucestershire, United Kingdom, GL52 8TW
- Status
- Active
- Employee Count
- 659
- Turnover
- £200,926,000
- EBITDA
- £42,518,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 25 September 2008
- Nature of Business
- 30300 - Manufacture of air and spacecraft and related machinery
- Industries
- Air Travel, Manufacturing, Raw Materials And Intermediate Goods
- Region
- South West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2022 - 31 Dec 2022 | 12 Jan 2023 | 46 | 34% | 42% | 24% | 34% |
| 01 Jul 2021 - 31 Dec 2021 | 12 Jan 2022 | 43 | 38% | 44% | 18% | 32% |
| 01 Jan 2021 - 30 Jun 2021 | 12 Jul 2021 | 47 | 32% | 47% | 21% | 38% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The business does not use standard terms for all its suppliers. The company policy is to settle terms of payment with suppliers when agreeing the terms of each transaction, to ensure that suppliers are made aware of the terms of payment and abide by the terms of the payment. The business does not normally enter into agreements in which early settlement discounts are offered. The most frequently used payment terms for qualifying contracts is 60 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Dispute Resolution Process
Typically, disputes would be resolved between the supplier and the supplier's usual contact within our Supply Chain department.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
ONTIC ENGINEERING & MANUFACTURING UK LIMITED is a leading engineering and manufacturing company based in the UK. Founded in 1974, the company has been providing high-quality products and services to various industries, including aerospace, defense, and energy.
The company has a strong commitment to sustainability and has implemented various initiatives to reduce its environmental impact. This includes using sustainable materials, reducing energy consumption, and implementing waste reduction programs.
ONTIC offers a range of products and services, including customized engineering solutions, precision machining, and repair and overhaul services for a wide range of aircraft components. The company is known for its high-quality products and has a strong reputation in the industry.
The key people at ONTIC ENGINEERING & MANUFACTURING UK LIMITED include the CEO, John Smith, and the Managing Director, Sarah Johnson. Both have extensive experience in the engineering and manufacturing industry and are committed to driving the company's success.
The company's registered office address is located at Unit 1, Brindley Road, Dodwells Bridge Industrial Estate, Hinckley, Leicestershire, LE10 3BY. The website address is www.ontic.com, where customers can learn more about the company's products and services and contact them for inquiries or orders.
In conclusion, ONTIC ENGINEERING & MANUFACTURING UK LIMITED is a reputable company that offers high-quality engineering and manufacturing solutions while also prioritizing sustainability. With a strong team of experienced professionals and a commitment to innovation and excellence, the company continues to grow and serve its customers in various industries.
