Revolvo rolls out major deal with India
A DUDLEY manufacturer has secured a £1m contract to supply an Indian steel producer with split roller bearings.
The deal between Revolvo and Jindal Steel & Power – a £6bn conglomerate with 12 plants in India and two in the United States – is one of the biggest success stories to emerge from the Black Country so far this year.
Nick Dent, Revolvo managing director, said: “I’m absolutely thrilled with the £1m contract win, especially as we were up against some very tough international competition.
“Split roller bearings give reduced downtime in assembly, maintenance and replacement situations, typically taking 90% less time to change compared with a solid bearing. This significant advantage is invaluable for continuous process industries where increased uptime is a critical success factor. “
The company, which employs 60 people, has attributed part of its success to the award of a £240,000 Grant for Business Investment (GBI) grant from regional development agency Advantage West Midlands.
The funding enabled Revolvo to relocate from Queens Cross to new modern premises nearby at York’s Park, Dudley, and invest in specialist precision machinery and process larger orders.
The order success prompted a visit to the factory by West Midlands Regional Minister and Dudley North MP Ian Austin.
Mr Austin said: “The government grant and advice provided by AWM is a great example of the help we’re providing to local manufacturers so they can develop new products, invest in new equipment, win new contracts and provide more jobs.
“This contract win is testament to its (Revolvo) superior products and incredible foresight and determination to expand into new territories world-wide; already having cracked India and China, the next step is South America for which I wish them the best of luck.”
Mr Dent added: “The support from the business grants appraisal team at AWM was invaluable and the £240,000 was the catalyst for a capital expenditure investment of £1.2m (meaning) we were able to relocate and expand the business quite quickly.”
GBI is a publicly funded business support service designed to help businesses start, grow and succeed.
In 2008-09, GBI grants totalling £8.85m were awarded to 73 businesses across the region, helping to lever in £46.5m of private sector investment, safeguarding 248 jobs and creating 1,441 more.
Patrick Palmer, Head of Access to Finance at AWM, said: “Revolvo is a prime example of a manufacturing company who recognised a grant was needed to help them expand and grow their business. I am delighted at the massive progress they have made.”
Revolvo’s home, the £11.6m 12-acre York’s Park development is another project originally assisted by AWM, which worked in partnership with Midland-based property company Mucklow to transform the site for commercial and warehouse use.
