Overhead Crane Maker Order Intake Defies Economic Gloom

Stockport, UK (PRWEB) August 31, 2008

The National Statistical Office reported zero growth for the last quarter adding to dire warnings of recession from the Chambers of Commerce and CBI. Despite this, UK industrial crane maker Street Crane Company has recorded the highest ever order intake in their 60 year history. Could it be we have a two speed economy? Andrew Pimblett, Street Crane’s managing director certainly thinks so.

“Conservatively we are expecting our overall sales for 2008/9 to be at least 40 percent ahead of 2007/8 – and that too was very good year. In the first five months of the financial year starting in April, we have seen like for like monthly order intake up to 100 percent higher than the previous year,” Andrew explained.

Factory cranes are a serious capital investment – a single unit could cost from tens of thousands of pounds up to several hundred thousands, depending on size and complexity. Most companies would expect a working life of at least 20 years and so these are investment decisions that they are making after serious consideration of their own prospects. Street Crane’s current success is therefore a barometer of the confidence that UK manufacturers have in their future and an indicator of what is happening in the wider world economy.

“Within the UK, we are seeing some long-term customers who are continuing to invest and grow. The steel maker Corus (now owned by the Indian conglomerate TATA) have placed substantial orders with Street Crane over the past 12 months as part of upgrading and expanding capacity. At the other extreme, we have received significant orders from four UK luxury boat builders, Princess Yachts, Fairline Boats, Sunseeker and Sealine. The common factor is probably that our customers are doing well by serving a world market that is hungry for their products,” concluded Andrew.

This pattern is reflected in Street Crane’s own sales, whereas several years ago the company had a UK to export ratio of 60/40, the company has now more than reversed these proportions as export sales rise. This trend has been supported by two initiatives – new product development and active international partnering to become a supplier of high value components to other industrial crane makers overseas.

Early in 2008, Street Crane launched the ZX 6 and ZX 8 hoists. These hoists are the result of a

Tags: , , , , , , ,

Comments are closed.

CIGI Experts Outline Prescriptions for Cannes Summit and Beyond in Special Report on G20 Issues

Waterloo, Ont. (PRWEB) October 20, 2011 With a possible euro zone collapse and Greek insolvency likely to dominate the upcoming [...]

Pathways Home Health and Hospice Satu Johal Receives CFO of Year of the Year Award; Silicon Valley Business Journal Honoree

Sunnyvale, California (PRWEB) December 02, 2011 Satu Johal, CFO at Pathways Home Health & Hospice, received the Silicon Valley Business [...]

Latest Financial Regulation News

Working Together Towards Better Financial Regulation and Stability in Asia Image by Asian Development Bank Tellers attend to clients in [...]

European financial regulation – 4 questions to Olivier Garnier (Societe Generale)

Olivier Garnier, Chief economist at Societe Generale Group, expresses his view on European financial regulation and its reform. Video interview [...]

AMS Health Care Mortgage Corporation Provides Debt Service Savings to Hospitals Utilizing FHA 242 Mortgage Insurance Program

Jacksonville, FL (PRWEB) August 30, 2013 An oft-overlook and relatively unknown federal program for hospitals seeking capital for needed and [...]

Vermont’s Captive Insurance Industry Off to Best Start Since 2005

Montpelier, VT (PRWEB) April 16, 2012 First quarter licensure of new captive insurance companies is off to a strong start [...]