Wednesday, June 4, 2014

News: AESSEAL continues to invest as it continues to grow

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Just like in previous years, award-winning Rotherham manufacturer, AESSEAL has again reported growth in sales and profit, a record that extends over 30 consecutive years.

With global headquarters at Templeborough, AESSEAL is the world's fourth-largest designer and manufacturer of mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.

AES Engineering Ltd, parent to the AESSEAL Group, has reported its annual results for the year to December 31 2013 which show that sales have increase by 11%, to £146.5m. After allowing for acquisitions and exchange differences the company reports that like-for-like sales growth was a healthy 7.4%.

The past year saw EBITDA (earnings before tax) rise to £24.6m. Activities in its key strategic market of oil and gas also grew, by 20% in 2013, building on the previous year's 26%.

The business was founded in 1979 by current managing director, Chris J. Rea, OBE and whilst he retains a majority interest and control at AES, international investor, 3i hold a minority stake. Having first invested in 1996 and increased its stake to 40% in 2007, 3i's latest financial results show that the valuation has increased from £79m in 2013 to £96m in 2014.

AESSEAL reports it has expanded in the UK and worldwide, especially in emerging markets, and that it is "well positioned to take advantage of the higher growth rates in markets outside of Europe and the USA" and will continue to strengthen its network wherever it sees opportunities for accelerated development, including sub-Saharan Africa and the Middle East.

During the financial year, the group acquired AVT, a UK-wide maintenance reliability consultancy. With this acquisition AES Engineering Ltd. believes that it has the largest integrated reliability business serving UK manufacturers.

Even as it marks its continued growth, AESSEAL is planning further expansion. It already employs more than 1,650 people worldwide, of whom approximately 650 are in the UK and Ireland and more than 330 in Rotherham, home to its Global Technology Centre HQ.

Land and buildings have been purchased on a site neighbouring the headquarters in Rotherham which could lead to the workforce doubling over time.

With a focus on innovation and quality, the manufacturer has won numerous awards including 12 Queen's Awards to date. Recognised this year by the London Stock Exchange Group (LSE) in its "1,000 Companies to Inspire Britain," the firm was one of just four to be recognised in the section on "The Innovators" that highlights that innovative UK companies are the ones that sustain strong growth.

Stephen Shaw, group engineering director at AESSEAL, said: "Our investment in research and development over the past five years has seen the product range develop more than any other seal company worldwide during that period."

AESSEAL's latest product launch was the EasyClean seal support system that is expected to dramatically increase the hygiene standards for support systems in food and pharmaceutical industries.

AESSEAL website

Images: AESSEAL

1 comments:

Chris B July 10, 2014 at 10:31 PM  

A great local company on the Global stage

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