Sheffield Forgemasters maintains leading global position
mercredi, 13 janvier 2010
Engineering company Sheffield Forgemasters, the world’s largest independently owned forgemaster, has recorded its highest ever capital investment figure as it continues to maintain its global position.
Capital investment by the Sheffield-based firm was a record £14.4m - more than double the figure of £5.9m last year.
Forgemasters – said to be the oldest steel business in the world - specialises in a broad range of heavy steel forgings and steel castings as well as stocking steel ingot and bar.
During its 200 year history, the firm has produced some the largest bespoke engineered products in the world and has the capacity for steel casting of up to 350 tonnes and steel forgings of up to 200 tonnes.
Two major projects have underlined the investment push including a new 4,000 tonne press and the development of a new machine shop, primarily for ultra large castings both aimed at strengthening Forgemasters' ability to service key markets.
The new 4,000 tonne press is due to be fully commissioned in December while the new machine shop is being introduced on a phased basis with full commissioning expected by the end of May 2010.
The development of the new machine shop will substantially reduce SFIL's dependence on sub-contractors and increase its performance to the benefit of its customers.
Tony Pedder, chairman of Forgemasters, said: "It is during more difficult times that the strength of the group is put to the greatest test.
"We have persevered with our strategy of maintenance spend and capital for plant modernisation aiming to place us in the ideal position to supply our core markets including nuclear, steel processing, power generation, defence and offshore oil and gas. Last year's capital investment programme was the highest ever recorded."
The group is still actively engaged with customers, external finance providers and the Government with a view to securing funding for an investment in a new 15,000 tonne forging press.
Mr Pedder said that such an investment would enable the firm to produce even larger components including support for the new generation of nuclear power stations.
“As a sign of our confidence and determination, we continue to actively seek out and develop new opportunities to grow our business,” he added.