Fort Vale launches nuclear arm

EAST Lancashire-based Fort Vale Engineering has launched a new company to focus on opportunities in the nuclear sector.

Fort Vale Nuclear will operate as a stand-alone company working alongside the firm’s main engineering business at its headquarters in Simonstone, near Burnley.

Fort Vale, which won a fourth Queen’s Award for Enterprise in International Trade last year, said it has seen strong year-on-year revenue growth from the nuclear industry which it first got involved with six years ago.

Since then, the company, which has sales of £60m, has secured framework agreements with several key players, including as a preferred machining supplier to Warrington and Egremont-based Nuclear Engineering Services (NES).

Fort Vale’s main business manufactures stainless steel valves and fittings for the transportation of liquids, gases and powders.

Director Peter Staveley said: “In 2008 we were looking for opportunities to diversify as a business. We opted to look for something that built on our existing competences and skills and which was engineering based, but potentially did not follow the economic cycles of our core business.

“One attraction of the nuclear market is that it is relatively recession proof. It’s one of the only budgets that the Government ring fences. You can’t turn off radioactive waste. It still has to be managed and maintained and, as well as the proposed new-builds, sites still have to be de-commissioned. I believe that by utilising our strengths and expanding our involvement the nuclear industry can play a big part in Fort Vale’s long-term future.”

The firm, founded by chairman Ted Fort in 1967, has annual sales of around £60m. Mr Fort still owns most of the shares.