News: Significant sales increase at AESSEAL
Innovative Rotherham manufacturer AESSEAL has reported a significant 12.5% rise in sales for 2017 as it continues to invest.
With its global headquarters at Templeborough, the award-winning company manufactures mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.
Group turnover rose to £170.6m in the year to December 31 2017 as the group benefits from the weakness of the pound. Organic sales growth was 6.75% on the previous year when adjusted for acquisitions and currency fluctuations.
Group net assets rose to £103.5m, a rise of 14.2% from 2016, and the group held a positive cash balance of £17.4m at year end, after increasing capital expenditure – which included investment of £6.8m in additional 9 and 11 axis machining capacity.
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Chris Rea OBE, founder and managing director of AESSEAL, said: "Despite a climate of continuing political and economic uncertainty, the AES group has delivered a strong result for 2017 and is confident of progressing positively this year and beyond.
"The investment in 2017 is not only to service increased demand but also to support the group's stride to take advantage of digitalisation and the Internet of Things. Our confidence for the future is built on the excellence of our product and service offering and the business model and value proposition of the group, which is unique in the industry sector."
AESSEAL has recorded more than three decades of near constant growth under Rea's leadership and continues to innovate in order to remain ahead of competitors and deliver industry leading customer service levels.
The company's ethos is based around providing such exceptional service to customers that they need never consider alternative sources of supply.
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Rea added: "Being located in South Yorkshire plays a key role in the success of the business. The steel industry heritage in the area means we have a skilled labour force.
"After 30 years of continued product development we believe we are in a very strong position - with a range of differentiated and enhanced patented technology for almost all Wet and Dry Gas Seal applications - and that we can secure as large a percentage of global applications as any other global mechanical seal supplier. Going forward our development will focus on emerging technologies and connecting the group's consultancy and reliability business digitally to its physical product range in order to offer the best possible service to customers."
AESSEAL employs 1,675 people across the globe, including 370 in Yorkshire. Following a £460,000 upgrade, the AESSEAL systems division at Barbot Hall Industrial Estate was recently officially opened.
AESSEAL website
Images: AESSEAL
With its global headquarters at Templeborough, the award-winning company manufactures mechanical seals for a wide range of industries, including oil and gas, food, water, mining and pharmaceuticals.
Group turnover rose to £170.6m in the year to December 31 2017 as the group benefits from the weakness of the pound. Organic sales growth was 6.75% on the previous year when adjusted for acquisitions and currency fluctuations.
Group net assets rose to £103.5m, a rise of 14.2% from 2016, and the group held a positive cash balance of £17.4m at year end, after increasing capital expenditure – which included investment of £6.8m in additional 9 and 11 axis machining capacity.
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"The investment in 2017 is not only to service increased demand but also to support the group's stride to take advantage of digitalisation and the Internet of Things. Our confidence for the future is built on the excellence of our product and service offering and the business model and value proposition of the group, which is unique in the industry sector."
AESSEAL has recorded more than three decades of near constant growth under Rea's leadership and continues to innovate in order to remain ahead of competitors and deliver industry leading customer service levels.
The company's ethos is based around providing such exceptional service to customers that they need never consider alternative sources of supply.
Advertisement
Rea added: "Being located in South Yorkshire plays a key role in the success of the business. The steel industry heritage in the area means we have a skilled labour force.
"After 30 years of continued product development we believe we are in a very strong position - with a range of differentiated and enhanced patented technology for almost all Wet and Dry Gas Seal applications - and that we can secure as large a percentage of global applications as any other global mechanical seal supplier. Going forward our development will focus on emerging technologies and connecting the group's consultancy and reliability business digitally to its physical product range in order to offer the best possible service to customers."
AESSEAL employs 1,675 people across the globe, including 370 in Yorkshire. Following a £460,000 upgrade, the AESSEAL systems division at Barbot Hall Industrial Estate was recently officially opened.
AESSEAL website
Images: AESSEAL
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