Sheffield Forgemasters Orders Book Reaches a record of $150 million (US)

Highest value for new orders in over five years, highlighted by defense and material processing programs

The company, which has been pursuing diverse global contracts since the 2015 oil and gas market crash, counts UK and US defence orders, materials processing, and research and development projects orders as helping to support the order book. Forgemasters’ policy of heavy investment in technology and skill allows it to operate in a competitive worldwide market for large scale engineered components which have a high safety-critical requirement. Dr Graham Honeyman CBE, chief executive at Sheffield Forgemasters, said: “We are very pleased to report that our order book has breached the 100 million pound mark for the first time in five years. “This announcement follows a prolonged period of market austerity across all of our market sectors after the global recession started to take effect, which was further compounded by the collapse of oil and gas markets which closed off a key revenue stream almost overnight. “It is important toContinue reading

European Union aviation safety agency recommends companies suspend purchases of Kobe Steel products (US)

The European Aviation Safety Agency (EASA) advised manufacturers in a statement Wednesday to suspend their use of Kobe Steel (KBSTY) products after the Japanese firm admitted to falsifying data.  The regulator recommended that aircraft makers find alternative suppliers and conduct a “thorough review of their supply chain.” It’s the first such advisory to be issued by a major regulator since Kobe Steel came clean last week over faking strength andContinue reading