Overall turnover increased by £2 million to £19.3 million during the last financial year, spurred by strong growth from the company’s 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 £20 million.
Erodex says it has continued to benefit from a strong and growing reputation within the global aerospace industry. Notably, a large proportion of new business has been won outside of the EU, in countries such as Israel, the US and Mexico.
Director Steve Rolinson says: "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,” he continues. “In addition to designing the optimum electrode, electrode holder and workpiece holder, Erodex Tooling Solutions designs and manufactures the whole package. This is unique in our market and we continue to see more and more customers buying into this mind-set because of cost and time savings.”
The company has made investments totalling £1.2 million in the past 12 months and surpassed a total head count of 100 staff members. Five more skilled operators have recently joined the machine shop, while three apprentice tooling engineers have also been recruited.
Rolinson says: "Around £900,000 of the £1.2 million was spent on upgrading plant, IT infrastructure and machinery, such as machining centres, grinding machines and Mitutoyo metrology equipment. 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.”
