Vulcan brings in the contracts
07 September 2007
Vulcan scores highly with offshore contracts
Vulcan SFM, a subsidiary company of Sheffield Forgemasters, has secured 40 per cent of its predicted annual contracts in the first month of its financial year.
The company, which provides design, engineering production solutions and project management services, has surpassed all expectations by winning £4m of contracts in July out of an anticipated £10m for the whole 12 months to June 2008.
Vulcan's success is supported by outstanding contract enquiries valued at £43.5m, demonstrating a global demand for the company's services, which tap into the wealth of expertise carried by Sheffield Forgemasters.
Ian Gerard, Managing Director of Vulcan, said: "Our contract take-up for July is outstanding. This is the start of Vulcan SFM's second financial year and we anticipate winning approximately £10m of contracts over the coming year.
"Vulcan is currently handling £7.5m of live contracts to design and supply components for oil platforms and heavy lifting vessels in the North Sea and the Gulf of Mexico. This includes three contracts taken in July."
The team at Vulcan are applying their expertise to highly stressed components within floating oil production platforms and their mooring systems and components for a heavy lift vessel used for the installation and decommissioning of offshore structures.