Tuesday, September 20, 2016

News: Esco vacates Rotherham site


Esco Corporation, a US manufacturer in the mining, construction and industrial sectors, has vacated the Rotherham premises it acquired in 2011.

At the time of acquisition, Hydra Mining Tools International was one of Rotherham's most profitable businesses. The company, and its predecessor, Hall & Pickles Tool Company, have been associated with mining activities since the earliest days of mechanisation. Following the collapse of the British coal industry, the company was bought out of administration and refocused on supplying its specialist cutting tools to China.

The 45,165 sq ft premises at Wortley Road near Masbrough have now been made available for let, with agents, Knight Frank advertising the four office and industrial units used by Esco Hydra, as a whole or in part.

Everything from CNC machines to office furniture has been put up for sale later this month with specialist auctioneers, Peaker Pattinson by the company "due to the re-organisation of its manufacturing facilities."

In its latest accounts submitted earlier this year, Esco Hydra UK said that "in 2015 there have been headwinds that have resulted in a decision to consolidate the operations in one location." The UK subsidiary has since changed its registered address to the Esco site at Ings Lane in nearby Doncaster.

At the time of acquisition, 130 staff moved over from Hydra Mining Tools to the Esco Corporation. In the year previous, international sales were at an impressive £8.7m.

Esco, which celebrated its 100th anniversary in 2013, has been affected by the global downturn and has seen global demand for mining products decline since its peak in 2012. It has been reducing foundry capacity ever since - its site at Guisboroough, Teeside closed in 2014 and it announced the closure of its Canadian and Australian sites in 2015.

At the end of 2015, the firm was forced to announce plans for the future closure of its main plant in Portland, Oregan.

Esco Corporation website

Images: Knight Frank


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