ENGINEER Clyde Process Solutions reported a record order book yesterday thanks to strong demand for its conveyor systems which offer a cheaper, greener alternative to traditional conveyor belts.
Doncaster-based Clyde specialises in pneumatic conveying systems, which transport materials by blowing air through an enclosed pipeline – rather like a reverse vacuum cleaner.
It's a much greener, cleaner solution than the traditional conveyor
belt which allows particles of cement and other materials to pollute the air.
It also uses less energy – a major concern for industrial customers at a time of soaring gas and electricity prices.
Its equipment is also lower maintenance than the traditional conveyor belt as there are fewer parts that can go wrong.
At the end of July the order book stood at a record £34.9m, a 63 per cent increase on the £21.4m reported last year.
The group said that trading in the six months to August 31 has been encouraging and the group is positive about its future outlook.
Clyde has done particularly well with customers in the iron and steel market which provided £7m of business in the first half.
Contracts have been secured with some of the world's leading producers of iron and steel in France, Brazil and China.
The group is also seeing strong growth from North American cement producers as they strive to reduce the emissions and environmental impact of their production processes.
Clyde chief executive Alex Stewart said: "The group has made excellent progress this year, with the demand for low energy, low mainten-ance, and environmentally enhancing solutions growing strongly across the majority of our key customer markets."
Clyde's key markets include iron, steel, cement, food and plastics.
The group said that trading in the second half is in line with expectations.
Following the trading update, which was issued ahead of the group's close period, the company's shares rose 16.4 per cent to close the day up 10p at 71p.
Clyde has announced a number of new contract wins over the past three months. Earlier this week it said it had won a £1.8m order with one of North America's leading providers of food ingredients and sugar products.
Clyde will provide a series of pneumatic conveying solutions to be installed at a major US production facility.
The North American provider of food ingredients is seeking to install a range of pneumatic conveying systems capable of transporting sugar to numerous locations within their production facility.
Last month it won a £1.5m contract with one of the world's leading steel producers and said there was a possibility of securing further orders with the unnamed producer.
Clyde's operating subsidiary, Clyde Materials Handling, will provide the customer with a pneumatic conveying solution for one of its major European production facilities.
In July it won a £3.6m contract with a leading European building products manufacturer.
The group will install a coal feed system to supply a series of mini blast furnaces at a cast iron plant.
Clyde beat European and Asian competitors to win the contract.
The full article contains 513 words and appears in n/a newspaper.