WALSALL foundry group Chamberlin has said it traded profitably in the first half of the current financial year, adding the recovery in production volumes across its specialist foundry businesses was now firmly established.
The announcement is a shot-in-the-arm to the business, which produces technically demanding castings, following its announcement in June of full year losses in excess of £1m.
In a trading update, the group said total castings volumes in the first half had increased materially compared with the corresponding period last year. It added it was well placed to benefit from any recovery in the heavy castings marketplace.
“The recovery in light castings is underpinned by our production of specialist automotive turbocharger components and visibility of production volumes is lengthening as the group’s turbocharger manufacturing customers launch new products to meet new environmental legislation,” said the update statement.
“Chamberlin’s heavy castings business is also experiencing greater demand and activity has returned to pre-recession levels. As one of only three foundries in the UK capable of casting up to six tonnes in high-grade iron, Chamberlin is particularly well-positioned in the heavy castings marketplace.”
The group’s two engineering businesses, Petrel and Fred Duncombe – respectively based in Leicester and Scunthorpe, account for around 20% of the group’s revenue. Both were said to be trading in line with expectations.
“The board remains confident of continuing progress and expects to announce half year figures towards the end of November 2010,” concluded the statement.
