Business in Excellence award for Sheffield Forgemasters
23 October 2008
Sheffield Forgemasters has been honoured with a top regional business award celebrating the most enterprising companies in Yorkshire.
Up against the most committed and innovative firms in the region, Forgemasters took the Companies with a Turnover of over £50m accolade at the Yorkshire Post Business in Excellence Awards.
The glittering ceremony, attended by the leader of the Conservative Party David Cameron and 400 people including leading industrialists and the most promising new businessmen and women, recognised the achievements of the region's business community from university spin outs to established companies.
Dr Graham Honeyman CBE, chief executive at Sheffield Forgemasters, said: "Forgemasters has made great strides forward and much of that is down to the hard work and enthusiasm from the workforce.
"We emloy almost 800 people and 78 apprentices and have over 1,100 suppliers predominantly based in South Yorkshire. Although 80 per cent of what we manufacture is exported, we see ourselves as a Yorkshire company and to win this award means a lot to us."
As one of the most recognised names in the global engineering industry, Sheffield Forgemasters was recognised for its continued excellent performance in the design and manufacture of bespoke steel forgings, castings and components for industries such as defence, oil and gas exploration, power generation, marine and construction.
From bankruptcy and near closure in 2003 and following a successful management buy out in 2005, SFIL now has a record profit performance, a sales turnover of more than £100m and a £145m order book. Sales for 2008 are anticipated to be the highest ever and it is winning influential contracts with Chinese, Indian and Brazilian companies. Exports account for 80 per cent of its business.
SFIL has succeeded through a shared vision and against all odds and now offers an inspiration to other companies. The management team has proved entrepreneurial spirit can be sucessful when adopted in a 200 year old, traditional, northern, industrial business.
The business is now a highly focused, successful and forward thinking company driven by a determined management team.
The award, sponsored by DLA Piper, followed the presentation of a third Queen's Award to Sheffield Forgemasters earlier this year and a CBE to Dr Honeyman in the Queen's Birthday Honours list.