ACE Winches Has Announced Year of Growth
ACE Winches, specialised in the design, manufacture and hire of hydraulic winches, marine deck machinery and associated personnel for the offshore oil and gas, marine and renewable energy markets, is set to build on its enviable track of export and home grown talent as it announces its results for the past twelve months. The Aberdeenshire-based company has reiterated a long-standing commitment to its local workforce and has invested several milion pounds.
The company has invested several million pounds in its new global headquarters on a 24-acre site at Towie Barclay Works, near Turriff. ACE Winches’ annual report to October 2010, reveals a turnover of GBP 16.8 million, up from GBP 12.1 million the previous year and which slightly exceeds its projected turnover for the year. The company reports a pre-tax profit of GBP 4.2 million in 2010, which is almost exactly the same as it reported in 2009, however the company’s significant investment at Towie Barclay is reflected in increased capital expenditure which more than doubled from GBP 3.0 million in 2009 to GBP 6.4 million in 2010. In April 2010, the company also opened a Norwegian base in Stavanger.
Organic Growth and Expansion
During the 2010 financial year employee numbers increased to 162 from 122 the previous year, reflecting the ongoing organic growth and expansion. Its commitment to staff is reflected in many ways, including its Modern Apprenticeship Scheme, which now accounts for around 20 per cent of the workforce. Chief executive officer Alfie Cheyne said: “2010 was all about consolidation following our move to Towie Barclay Works. We have maintained a strong order book which allowed us to invest with confidence as we look towards expanding our overseas delivery whilst also servicing our solid client base here in the UK.”
Overseas Markets
In 2010 approximately 62% of overall turnover was from overseas markets. Mr Cheyne: “ACE Winches’ success so far has been based on specifically targeting the niche exports of skills and products to clearly defined markets and applications and by maintaining our focus on what we are good at. Our strategy is clearly defined and we have not allowed ourselves to become distracted by short term opportunities.”
Queen’s Award
In April 2010, ACE was awarded the Queen’s Award for Enterprise in International Trade. ACE Winches was required to demonstrate the effects of the activities and practices of business under several remits including Impact on Society, Environmental Impact, Relations with Suppliers, Partners and Contractors, Relations with Employees and Relations with Customers – a declaration of corporate responsibility.