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Forgemasters appoints new director

22 October 2008

Sheffield Forgemasters International Ltd. has appointed a new chief financial officer.

Sheffield-born Neil Maskrey, 41, joins the company following a seven-year stint at William Cook Holdings where he worked as finance director for the group.

Neil joins chief executive Graham Honeyman, director Peter Birtles and chairman Tony Pedder on the board of directors at Forgemasters, which is now into the third-year of a successful management buyout and witnessing increasing global demand for its unique products.

Neil, who lives in Baslow, Derbyshire, said: "I am delighted to be joining Sheffield Forgemasters at such a pivotal time in the company's history.

"Forgemasters has seen superb levels of growth since the management buyout in 2005 and I will now be looking at ways to continue that growth and add to the value of the finance department and the company as a whole.

"This company has one of the finest pedigrees in the world of engineering and the ownership of the organisation by its employees makes it a highly appealing place to work, with an extremely positive culture across the workforce."

Forgemasters has recorded a turnover of £115m during the 2007/2008 financial year and is on target to achieve a record turnover of £150m through 2008/2009.

Chief executive Graham Honeyman said: "We are delighted to welcome Neil to the board of directors at Forgemasters. This is a very dynamic time for the company as it increases its market reach and places heavy re-investment at the forefront of its development.

"Neil has worked on a host of impressive corporate transactions and his experience will help to continue the company's expansion and maintain a secure future for 775 employees."