Erodex UK set to hit record £20million turnover
Erodex UK Limited, the UK’s leading supplier of EDM graphite and tooling to the aerospace market, has reported record levels of turnover with the company set to hit the £20million mark for the first time in their history.
Overall turnover increased by £2million to £19.3million during the last financial year, including strong growth within the Machining / EDM sundries division and a 46% rise in turnover within the Tooling division, Erodex Tooling Solutions. Following a strong start to 2019, the company is now set to surpass total sales of £20million.
Erodex has continued to benefit from a strong and growing reputation within the global aerospace industry. Notably within the context of a post Brexit Britain, a large proportion of new business has been won outside of the EU, including countries such as Israel, USA and Mexico.
Director Steve Rolinson comments: “We operate in a mature industry, so achieving the level of growth that we continue to achieve is testament to our people, the expertise that we have within the group and our constant efforts to innovate. Export sales have increased significantly, our US operation continues to grow year on year and we have secured a further three customers in Mexico for tooling and EDM electrode work.
“Within the UK, the 46% growth in our Tooling division follows on from the success of previous years and our decision to invest in our own tool rooms as well as dedicated tooling inspection facilities. In addition to designing the optimum electrode, electrode holder and workpiece holder, Erodex Tooling Solutions design and manufacture the whole package, all with a single point of contact. This is unique in our market and we continue to see more and more customers buying into this mindset because of cost and time savings”.
Within the period the company has made investments totalling £1.2million and also surpassed a total head count of 100 members of staff. Erodex added 15 new people to reach a total of 109 within its workforce, including the recruitment of five new skilled Operators within the Machine Shop. To continue to future proof the workforce, three new apprentice Tooling Engineers were also taken on.
Steve Rolinson adds: “In total we have spent around £1.2million on capital equipment over the past 12 months. Around £900k of this was spent on upgrading plant, IT infrastructure and machinery, such as machining centres, grinding machines and Mitutoyo equipment as part of the continual improvement of our quality assurance process. Such investments go hand in hand with our focus on employing and investing in the best people, as part of our long-term growth strategy”.