US deal boost for CPS
Montag, 8 Juni 2009
PNEUMATIC conveying firm Clyde Process Solutions has delivered a record set of annual results with chief executive Alex Stewart claiming that more was to come thanks to the group's diversification in both customer markets and geography.
Mr Stewart said that integration of the group's operations in North America - MAC Equipment and Clyde Materials Handling - had helped it to significant order wins, including a £9.3m contract with a leading US food ingredients and sugar products provider.
The strength of its operations in North America - the group won £13m in orders over the year in the US sugar industry alone - had helped it to continue its growth despite slowdown in other global markets as a result of the economic slump, he said.
He said the group was confident two postponed European steel contracts, which led Clyde to review its operations and cut staff, would resume in 2010 and would add £5m to its revenue.
Mr Stewart said: "We've got a global footprint now that covers areas including China, South Africa, and North America.
"It's a challenging world market out there but we've been able to diversify our sales resource and we've seen growth. For example, food has been strong for us this year; both human and pet food."
Mr Stewart said he was confident that Clyde, which also focuses on air filtration technologies, was in a position to capitalise when the global ecomony picks up. Areas which he believes will be lucrative include metals and minerals.
It would also look to develop more technologies, he added.
Clyde, which had an order book of £32m at the end of April, said there had been mixed performance in its Asia and South American operations.