AESSEAL working towards expansion
AESSEAL, one of the world’s largest mechanical seals manufacturers, has said it is working on plans for continued expansion.
The company said operating profit fell to £7m for the year ended December 31 2012 but the company said this followed an “exceptional” increase of 41% to £7.6m in 2011.
Pre-tax profit fell to £6.9 from £7.4.
The company saw turnover increase by 3.3% to £43.4m, which it said is due to its “ingrained ethos of putting customers at the heart of its business”.
The UK side of mechanical seal business, which has its Global Technology Centre headquarters in Rotherham, grew by 5.2% and sales to group companies around the world grew by 3.8%.
AESSEAL said it has expanded in the UK and around the world, especially in emerging markets, and said it is “well positioned to take advantage of the higher growth rates in markets outside of Europe and the USA” and will be continuing to strengthen its network wherever it sees opportunities for accelerated development, including sub-Saharan Africa and the Middle East.
Stephen Shaw, group engineering director, said: “Our investment in research and development over the past five years has seen the product range develop more than any other seal company worldwide during that period.”
Group founder and managing director Chris Rea, OBE, said: “Over the last three years the group has continued to develop as a reliability-focused business, with exceptional sales growth of complementary products such as our bearing protection and seal support system ranges alongside emerging complementary services and consultancy support capabilities. In addition our objective to offer a high-quality alternative for compressor dry gas mechanical seals is now a reality.
“The group’s purpose is to put customers at the heart of our business through providing exceptional customer service. Our customers have supported the expansion of our products, processes and the globalisation of our business.
“We believe this growth will continue in 2013 and beyond as long as we continuously improve every aspect of our business that brings a benefit to our customers.”
