Record turnover at Birmingham Manufacturer HydraForce
HydraForce Ltd, the Aston Hall, Birmingham-based manufacturer of high-performance valves and manifold systems, has released its financial statements for 2018, with turnover reaching more than £100 million, a 38.6% increase on the previous year.
HydraForce who created over 200 jobs in 2018, due to their increased production requirements, now employs over 675 people at their Birmingham factory:
“Hydraforce is really different and we are happy to be so. Our intelligence defines our products, our people define our Brand”
said Tony Brown, Managing Director at HydraForce.
This level of growth is unprecedented and was the result of strong growth in all European market areas and an increase in sales to customers in Asia.
“Notwithstanding the staggering growth we saw last year, which we thank our UK and other European partners for making that happen, our huge sales growth in some ways under calls Birmingham’s level of change”
explains Tony Brown.
“In 2018, 92% of what we sold was manufactured from our New facility at Aston Hall Road. Having pressed on with our strategy to manufacture locally for local markets, some of our sales in 2018 are now produced here, that 24 months ago would have been manufactured elsewhere within the Group. On top of this we are seeing through our New Product Introduction Programs, an emergence of specific products solely for European applications, which is promoting our creative learning.”
HydraForce continues to invest in key areas of the business and has invested heavily in additional capacity throughout last year to drive and support the planned increase in sales.
The company remains debt free, demonstrating its strong financial position and competitive advantage. Its growth has been due to its ability to respond to market demand and new opportunities created through new product design.
The company has budgeted further increases in sales for 2019.