Having established a current position of business stability, growth and diversification after recession hit times Fairport Engineering Ltd (FEL) of Adlington, Lancashire is now looking forward to a medium term position that promises an improved longer term future, certainly into 2018 and perhaps beyond. This optimism is based on a resurgent position in significant UK projects, growth in the level of study assignments and new initiatives introduced into the company’s portfolio during the last four years. One being, the establishment of a smaller projects capability, the second being a targeted initiative into the export market available in Nigeria and the third, an in-house non-proprietary equipment design and manufacture offering.
The smaller projects capability was introduced in 2014 as a market-driven means of accessing contracts from FEL’s traditional markets but undertaking them by means of a single dedicated resource team rather than FEL’s major project methodology of matrix managed multi-disciplinary project task forces. During 2015 some £1.75M of smaller contracts were undertaken with 2016 showing stabilisation of this revenue at a value of nearly £2.0M. This year (2017) has already secured £2.5M of work and a potential future order book of some £3.0M seems likely for 2018. Cultivation of opportunities in Nigeria began during 2015 and to date has achieved non-proprietary equipment supply contracts, with a total value in the order of £3.5M. In pragmatic terms this is seen as a reasonable return given the time that has elapsed since these initiatives were started.
Based on its sustained growth, FEL is taking steps to establish in 2018 a new specialist company, as part of the Fairport Engineering Limited Holdings Group, namely – Fairport Process Equipment Ltd (FPEL). It is intended to combine the small projects and non-proprietary equipment activities into the main workflows for this new organisation. Previously operated as divisional stand-alone cost centres the transition into a fully-fledged company will consolidate their specialist technical activities and provide the commercial and financial basis for their future growth.
Paul Fitton, FEL’s Chairman & CEO, has commented that, “A proven and profitable track-record over the last four years is quite an achievement for any business and the time is now right to build on this strength. I am particularly encouraged that the combination of our equipment supply and overall small project expertise and capability has been well received by many clients who are seeking to implement turnkey projects in partnership with us.”
The small project capability will allow clients to select appropriate specialist proprietary machines and have them combined by FPEL into a full handling and processing system that includes, as necessary, civil and structural works and electrical and control systems complete with site installation activities. Equally, FPEL’s non-proprietary equipment provision can include a complimentary range of mechanical and pneumatic conveying systems and associated storage and feeding options.