AN electrical engineering company is expecting to increase its
revenues by one third to £6m this year after completing its largest
project on behalf of the offshore oil and gas industry.
Newcastle-based Houghton International has recently carried out work
for a leading offshore services provider for an undisclosed six-figure
sum.
The Walker-based firm pioneers technical and commercial innovation
in the repair, maintenance and life extension of rotating electrical
machines.
The company has landed a number of orders for its high-voltage coil
products from countries such as Canada, Kuwait, Ireland and Singapore,
and now expects to grow its international client base over the next four
years.
The workforce completed a £1.5m investment programme to expand its
operations facilities into a new 12,000sqft manufacturing facility last
August, bringing the firm’s total space up to 37,000sqft.
The company recently exhibited its high-voltage coil products at a
trade show in Florida, which generated £500,000 worth of business as a
result.
The firm has also benefited from the downturn in the rail industry,
which has seen a number of operators call on its expertise to extend the
life of their propulsion systems in order to avoid investing in new
rolling stock.
This has seen the company provide its services to a growing number of
rail franchises over the past year, including South West Trains in
London.
It is now looking to grow its sales from around £4.5m to £6m by the
end of the year as a result of the increased workload, as well as add
five staff to its 84-strong workforce.
Houghton International was originally founded in 1984 in Houghton-
le-Spring, Tyne and Wear, before moving to larger premises in South
Shields, South Tyneside, in 1990 to accommodate an increase in both
employees and orders, and moving to Walker Riverside in 1998.
Managing director Michael Mitten said: “Our strategy to develop
international markets is resulting in increasing demand for our products
and services from a number of key markets, including North and South
America.
“Exhibiting at the major trade shows has raised our profile and
awareness and enabled us to obtain valuable feedback to further develop
our products and services.
“We’re passionate about investing in people in order to ensure we
have the skills to grow the business. British Engines has recently
launched their trainee academy and that is something we’re going to be
doing in the next six to 12 months. We’re looking to hire five more
apprentices in the coming months, which will bring our number of
trainees up to 15.”
The firm held their second apprentice recruitment open day on July 4
aimed at recruiting a number of full-time apprentices to join the
company this autumn.
It is also in discussions with Tyne North Training and Newcastle
College to work towards accredited work- based learning across the
company, which is part of their objective to be an employer of choice.
Over the years, the company has gained more than 400 customers and
exports to over 20 countries, including Greece, Canada, the Middle East,
Hong Kong, Norway and the USA.
http://www.nebusiness.co.uk/business-news/latest-business-news//2012/07/12/houghton-international-set-for-boost-in-revenues-51140-31376049/2/
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