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Strategic Initiative Helps Forge Bright Future
01 Feb 2006
In the past 12 months, Willenhall based Victoria Drop Forgings has pulled out of decline by securing two substantial new customers and achieving a 25% increase in business turnover. With the assistance of West Midlands Manufacturing Challenge (WMMC), the company adopted new manufacturing methods and marketing techniques, which turned its fortunes around.
Victoria Drop Forgings manufactures forged metal components, mainly in carbon alloy stainless steel. Due to price pressure from overseas competitors, however, the company's traditional volume markets have shrunk and, when three major customers were lost suddenly in 2004, the future looked bleak.
Within twelve months, downtime, scrap rates and reworking have all been substantially reduced; and new heating methods have led to improved efficiency and reduced fuel costs. The company now manufactures specialist design orders for niche customers, producing items such as chisel blanks for quality hand tools destined for the United States, and components for classic cars and motorcycles, as well as precision components for aerospace engines.
www.victoriaforgings.co.uk
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