News / Schaeffler grows as Welsh investment pays off
Date: 2013-10-30
Schaeffler grows as Welsh investment pays off
Sutton Coldfield-headquartered manufacturer Schaeffler UK has expanded further in 2012 with the investment in its Welsh facilities helping to push pre-tax profits past £5m and edge turnover closer to £70m.
Managing director Roger Evans has told Insider this upward trend is set to continue in 2013.
The business, which makes bearings and components for the automotive and industrial markets, has been based in the Midlands since the 1960s and moved into its head offices in Forge Lane in Sutton Coldfield in 1979. It employs more than 300 staff – about 250 in the plant in Llanelli, South Wales.
A major investment in Wales in 2011 in its mechanical tappet production area is set to drive the company's turnover towards £90m over the next few years.
Roger Evans, who took over as managing director from Kate Hartigan in July (2013) and is based at the plant, said the company was planning to invest more in the facilities in 2014 and 2015.
"The investment in the Welsh plant has continued to work towards improving the company's results further and we're hoping to expand on our facilities down here in the future," he told Insider.
Evans said it was too early to give firm details but added the business was working on the plans at the moment.
Revenue climbed from £62.5m in 2011 to £66.8m in the year to 31 December 2012 with a pre-tax profit of £5.1m, compared with £4.6m in the previous 12 months.
Evans described the results as "very encouraging" given the challenging global trading conditions.
"Our investment in new technology, production processes and especially staff training is certainly driving the business forward in the UK," he added. "We've been able to successfully support the market demand for traditional products and also some new ones as well."
Turnover grew 12 per cent in the automotive division in 2012 as a result of increased sales to one of its major original equipment (OE) customers. The industrial arm of Schaeffler UK also recorded significant growth during the year, according to the latest accounts.
"We're experiencing more confidence in the market place in both the automotive and industrial divisions and expect another year of growth for 2013," Evans said. "We're quite encouraged by some of the new projects in the pipeline to help us grow even more."
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