Sponsored by
Yorkshire Post Excellence in Business Awards 2008: Forging ahead in export markets to take top prize
IT'S one of the most recognised names in the global engineering industry. For 200 years Sheffield Forgemasters International, the world's largest independently-owned forgemaster, has designed and manufactured bespoke steel forgings, castings and components for industries such as defence, oil and gas exploration, power generation, marine and construction.
From bankruptcy and near closure in 2003 and following a successful management buyout (MBO) in 2005, SFIL now has a record profit performance, including a sales turnover of more than 100m and a 120m order book. Sales for 2008 are anticipated to be the highest ever and it is winning contracts with Chinese, Indian and Brazilian companies. Exports account for 80 per cent of its business.
It's for these reasons that the firm won the Companies With Turnover of Over 50m at the Yorkshire Post Excellence in Business Awards 2008.
Chief executive Graham Honeyman said afterwards: "I am absolutely amazed – shocked and stunned really. We are a true Yorkshire company, employing almost 800 people and 78 apprentices.
"Eighty per cent of what we manufacture is exported but we still see ourselves as a Yorkshire company and to win this award means a lot to us."
Although the company continues to do well in the face of economic turmoil, Mr Honeyman said some of his suppliers were struggling.
He added: "We have 1,200 suppliers, most of whom are from South Yorkshire, and we need to be successful for us but also for them because some are struggling a bit."
The company's operations include melting, casting, forging and engineering. It is one of the few companies able to handle large castings and forgings for the military and has produced some of the largest engineered products in the world.
The company has emerged from a chequered past into a highly focused, successful and forward-thinking company driven by a determined management team. SFIL employs 745 staff – an increase of more than 100 since the MBO in 2005. In 2007, 55 employees reached 25 years of service and 28 employees reached 40 years service.
Earlier this year Mr Honeyman was awarded a CBE after steering his firm through the floods which hit its riverside site in 2007. But the disaster illustrated the depth of feeling towards the company with staff, suppliers and influential figures leaping to assist in the company's immediate recovery.
SFIL is now a company where 70 per cent of employees own 100 per cent of its shares. A nationally recognised and award-winning apprenticeship scheme continues to train skilled staff and put vital skills back into the UK engineering industry.
The firm is now poised to capitalise on the increasing need for power generation across the globe. SFIL is one of the only companies in the world with the capability and expertise to serve nuclear, hydro and other power generating industries with crucial components. It has invested in specialist techniques which places them at the forefront of nuclear power engineering.
Large scale investment (totalling 15.2m in 2007) to update machinery and improve efficiency is an ongoing priority and the levels of inward investment far exceed industry averages.
Email to a friend
Print this page- Three-inch blanket of snow heading our way today
- Alan Shearer in list of favourites for Leeds and England jobs: Latest odds
- Barnsley’s Keith Hill invokes Fawlty Towers over link with Leeds job
- McCormack feels United search can be narrowed down
- Redfearn throws down gauntlet as queue builds at Elland Road
- Rival chips in with £500,000 to restore the original Harry Ramsden’s
- Visit from Princess as Serbian culture celebrated
- Was this woman on your train to Manchester Airport?
- SportsTalk: Leeds United’s manager search, Super League and Calcutta Cup
- Libraries aren’t like supermarkets, they are magical places where dreams begin
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Yorkshire
Sunday 12 February 2012
Today
Light rain
Temperature: 1 C to 6 C
Wind Speed: 8 mph
Wind direction: North west
Tomorrow
Sunny spells
Temperature: 4 C to 8 C
Wind Speed: 16 mph
Wind direction: West
