Springs manufacturer signs record £16m deal with US partner
Rochdale spring manufacturer, Hanson Springs, has signed a record-breaking £16m contract with US global technology and software giant, Emerson.
The supply agreement is spread over two years and represents around a quarter of Hanson’s sales, which are predicted to help grow turnover to a record £33.5m in 2024 and £38m in 2025.
The backdrop for the contract signing was Rochdale Town Hall, which has just reopened after a multimillion-pound restoration.
Malcolm Hanson, who founded Hanson Springs in 1963 and remains the managing director, described it as a “landmark day in a landmark building”.
He said: “It gives us the confidence to expand and invest in plant and machinery to make us even more efficient.”
“We’re very proud to be based in Rochdale. When Emerson said they were flying over to sign the contract we decided the refurbished Grade I-listed Town Hall was a fitting location for the ceremony.”
David Schoonmaker, category manager in metals and molded products at Emerson, said: “The signing of this contract recognises Hanson’s outstanding performance, consistency, reliability, and dedication in support of Emerson through the years. It is a symbol of our shared commitment to achieving both competitive excellence and collaborative success, further solidifying our relationship going forward.”
Rochdale Mayor, Cllr Mike Holly, said the newly refurbished Town Hall was the perfect setting for the contract signing ceremony: “At the heart of the building is The Exchange, originally built as a marketplace for local businessmen to trade cotton and wool. The room is adorned with architecture and decoration showing the pride Rochdalians had for the town and borough, particularly in trade and commerce in the height of the industrial revolution.”
Based in Gorrells Way, Rochdale, the family-run business, which employs 225 staff, started making parts for the textile industry in 1963, but expanded into the oil and gas and power generation sectors. The springs are mainly used in valves.
More than 84% of the company’s products are exported to 48 countries around the world with the biggest markets being the US, Italy and China.
To support the anticipated increase in international sales, Hanson Springs has been assisted by its lending partner, Independent Growth Finance, agreeing revised parameters on its existing structured finance agreement.
