Engineering specialist Unilathe is gearing up for expansion into the defence and nuclear sectors – after posting record annual financial results and boosting its workforce.
The Stoke-on-Trent-based company, which manufactures high-integrity machined, fabricated and engineered products, recorded turnover of £16.2 million for the year ending April 30 as well as a record bottom line profit.
Unilathe has also been able to increase its employees from 80 to 122 over the last couple of years, as contracts for class-leading customers such as JCB, Caterpillar and Siemens continue to bear fruit.
Now, the company said it is ready to break into the key defence and nuclear markets, with its high integrity, safety critical, engineered products and components, which can range from 10 kg to 15 tonnes in weight and up to 3 metres x 3 metres x 8 metres in size.
Managing Director Andrew Sims said: “These results are fundamentally due to a significant shift in the way we approach our customer base.
“Over the last five to six years we have made the transition from being a traditional sub-contractor with multiple customers, into a contract manufacturing organisation focussing on fewer best-in-class customers in a streamlined number of sectors.
“This has enabled us to take on growth opportunities and provide reliable, cost effective UK-based manufacturing solutions which deliver class-leading efficiency.
“The record figures are also down to investment in more of what customers want. So, for instance, in each of the last three years we have invested more than £1 million in new plant and machinery.
“This has helped to drive efficiency and effectiveness around quality, cost, delivery and our people.
“We are also spending more in training and people development than we have ever done. This includes a real focus on recruiting both apprentices and engineering graduates.”
The company’s machinery investment is based on supporting customer requirements, such as medium to large vertical turning, medium to large horizontal multi-pallet machining, heavy vertical bridge machining and customer-specific specialist finishing processes.
Andrew said that the next strategic move was to target the defence and nuclear sectors.
He added: “Whilst we have strategically developed business in our core markets, we are now looking at additional business diversification which targets the defence and nuclear sectors.
“This is on the basis that all the attributes we have already developed as a business now lend themselves to those markets.
“So, we could manufacture a range of products for areas like off-highway vehicle equipment, marine propulsion products, weapons systems, bridges and logistical assets.
“We are geared up for growth and are now looking to make the significant step into these new sectors whilst, of course, maintaining our policy of continual improvement in respect of our existing customers.”
