Sheffield Forgemasters' order book at 18-year high

Posted on 09 May 2018 and read 296 times
Sheffield Forgemasters' order book at 18-year highSheffield Forgemasters (www.sheffieldforgemasters.com) has reported a 2018 order book value of £118 million — the highest figure in five years.

UK and US defence orders, materials processing and R&D projects have all contributed to this success, as the firm continues its turnround following the 2015 crash in the oil and gas market that reduced its workload by 30% overnight.

The company’s policy of investing in technology and skills allows it to operate in a competitive world-wide market for large engineered components that have a high safety-critical requirement.

Chief executive Graham Honeyman said: “It is important to recognise that our customers see the high integrity of our products and our ability to create engineering solutions as invaluable, against increasing competition from less experienced manufacturers and aggressive tiger economies.”

The company is also creating some of the first components for a new class of small modular reactors that may revolutionise the global civil nuclear-power programme, working in partnership with the USA’s Electric Power Research Institute.

Dr Honeyman added: “Despite the downturn in global markets, the company holds fast to the belief that we have to maintain a technological lead, so our investment in new skills and technologies has gone on unabated.

“This is a crucial difference that sets this company apart, and we are confident that we can out-gun our fiercest competition in terms of product integrity and design innovation.”

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