Administration looms for manufacturer founded 225 years ago

An East Yorkshire-based valve manufacturer which was founded 225 years ago has posted a notice of intention to appoint an administrator.

Shipham Valves, in Humber Enterprise Park, Brough, supplies its products to the global onshore and offshore oil and gas, petro chemical, power generation, marine and fire protection industries.

According to the firm’s latest full accounts, made up to 31 December 2021, the business employed 68 people in 2021.

The company reported a turnover of £5.3m in 2021 (2020: £8.3m) and a 2021 pre-tax loss of £5m (2020: £5.7m pre tax loss).

In these same accounts, the firm noted that its principal markets are the oil and gas industry, adding that market conditions in these industries were uncertain, so presented a risk to the business.

Shipham Valves started life in 1798 as a brass foundry supplying products such as brass valves, bells, cocks, gauges and whistles to the local fishing and commercial shipping fleet based around the River Humber.

The business moved to its purpose-built factory in Brough in 2018.