Expanding Bridgnoth firm praised for record sales year
Bridgnorth Aluminium has been praised by MP Philip Dunne after revealing record sales for a second consecutive year due to a strong performance in Europe.
Mr Dunne also praised the company for opening its new cast house during a site visit.
Despite the impact of lower metal prices, turnover at the company, which is based in Stourbridge Road in Bridgnorth, rose by eight per cent to £179.7 million.
The new cast house, which provides a state-of-the-art facility to produce 55k tonnes of aluminium rolling slab, will increase the company's capacity to 100k tonnes.
The added investment will create a further 65 jobs for skilled staff and apprentices.
Mr Dunne also saw the hot rolling mill and new multi-slitting line, which will allow the company to move into new product lines supplying the electrical transformer and cable industries, and their new research and development laboratory.
Mr Dunne said: "Bridgnorth Aluminium has invested £14 million in their new cast house and together with other recent developments are on their way to investment a further £41 million in expanding its capacity and capabilities to become one of the leading aluminium processing fabricators in the UK.
"This inward investment has been approved by the company's Greek and Japanese owners and is a tribute to the skills of the workforce and management in Bridgnorth.
"The company created 40 new jobs in 2013 and plans a further 60 more skilled staff and apprentices in the next year to build its workforce close to 360 by the end of 2015.
"I was delighted to have the opportunity to congratulate managing director Simon MacVicker at this latest stage in the company's growth."
Sales volume has increased at the company by 16 per cent over the year to a new record level, building on what was already a record year in 2012.
Now 2014 is looking set to deliver another year of growth, after an announcement in March that it is to invest £41 million in research and development facilities, and create 65 new jobs at the plant.
The company, which manufactures aluminium coils for the lithographic printing industry as well as other flat rolled aluminium products, enjoyed a particularly strong year in mainland Europe.
While its UK turnover shrunk from £30.5 million to £17.6 million, in continental Europe it grew from £97.3 million to £117.7 million, and managing director Simon MacVicker said that boiled down to the specific demands of multi-national firms with operations on both sides of the English Channel.
America also grew, from £27.8 million to £33.5 million, and in Asia, the Middle East and Africa, the company's smallest market, turnover was slightly lower, dropping from 11.5 million to £10.9 million.
With the company continuing to grow, the cost of sales also increased, from £151.4 million to £160.6 million.
Bridgnorth Aluminium is a joint venture, 75 per cent owned by Greek firm Elval, with the remainder owned by the UACJ Corporation of Japan.
