WFEL in double defence win
A MILITARY engineering business in Stockport has won almost £4m in contracts from the US Department of Defence and the UK Ministry of Defence.
WFEL, based in Heaton Chapel, has been awarded a £2m contract to supply the MoD with a new 31 meter medium girder bridge (MGB), used by armed forces in conflict zones and areas struck by natural disasters, as well as other support services.
In the second deal, the firm’s support services division has won a £1.85m contract from the US Department of Defence to refurbish WFEL built MGBs and M-18 Dry Support Bridges (DSBs) returning from service in Iraq and Afghanistan.
WFEL, which was the subject of a £48m management buyout in December 2006, backed by private equity firm Dunedin, says it has seen its order book continue to grow against the backdrop of a global economic recession.
In 2008, WFEL’s turnover stood at £29.6m (2007: £27.8) and the company aims to increase that to £39.1m by the end of 2009.
Chief executive Ian Wilson said: “Military bridging is a planned purchase which has help shield us from the downturn facing many other parts of the UK manufacturing industry.
“Our sustained growth is driven by the strength of our core products, like the MGB, and by WFEL’s expanding service division which is capitalising on the opportunity to provide our technical expertise in repair and maintenance to existing customers like the US.”
The latest orders follow confirmation of an £17.7m contract to supply eight DSBs to the US in April.
