Halesowen-based Erodex UK Ltd, a leading supplier of EDM graphite and tooling to the aerospace industry, has reported record levels of turnover, with the company expecting to hit the £20 million mark in 2019 (for the first time in its history).
Its turnover increased by £2 million (to £19.3 million) in the last financial year, boosted by strong growth in the machining/ EDM sundries division and a 46% increase in the performance of the tooling division (Erodex Tooling Solutions).
The company (
www.erodex.com) has built up a strong reputation in the global aerospace industry, and a large proportion of new business has been won in Israel, the USA and Mexico.
Director Steve Rolinson said: “We operate in a mature industry, so achieving the level of growth we have 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-based 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 designs and manufactures 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 mind-set because of cost and time savings.”
Mr Rolinson added: “We have spent around £1.2 million on capital equipment over the past 12 months.
“Around £900,000 of this was spent on upgrading plant, IT infrastructure and machinery, such as machining centres, grinding machines and Mitutoyo equipment.
“Such investments go hand-in-hand with our focus on investing in the best people, as part of our long-term growth strategy.”
Erodex has also recruited 15 new people, including three apprentice tooling engineers, and now has a total workforce of 109.