Thriving year paves the way for FSP in 2022
A Shropshire manufacturer experienced its best-ever trading year in 2021, paving the way for a successful 2022 thanks to a strong order book of domestic and export business.
Telford based Fabweld Steel Products (FSP), which manufactures access covers and other fabricated steel products for the construction industry, initially set out plans to push its growth to 20 per cent during 2021. But smashed this target with record-breaking sales helping to post a 26.5 per cent in comparison to the previous year.
Managing Director Richard Hilton attributed the rapid rise to: “Maximising sales and export opportunities, despite the challenges of Covid-19 and Brexit.
“The past two years has been a turbulent time for the manufacturing industry, with the addition of Covid restrictions initially limiting our manufacturing processes, as well as the new regulations imposed because of the UK’s exit from the EU and raw material prices rising over 150 per cent.
“However, at FSP we’ve really come together as a collaborative unit the past twelve months, with our sales and operations teams seamlessly pushing our products and services to supply new projects and new countries.
“In 2021, we have supplied our flagship FAB PAVE™ to the prestigious Munich Frauenkirche in Germany, FAB SECURE™ products to water reservoirs across France and a FAB TOP™ fireproof emergency exit cover to Israel. We have built strong relationships in these countries and continually look to replicate this elsewhere.
“Exports have risen to almost 15 per cent of our overall sales in 2021 and we know these markets have huge potential for growth. We have proven that overseas sales can, and will, be a big part of our business into 2022 and beyond.”
Wayne Carter, Operations Director said: “We’ve worked on some really notable projects closer to home throughout the year too, with the famous Oval Cricket ground being a particular highlight. We have also supplied to facilities for the upcoming Commonwealth games, National Grid substations and logistical warehouses including Amazon.”
“We’re hugely proud of our Telford roots, but to think we’ve supplied our products to some of the most recognised buildings and sites across the UK and beyond is something we’re delighted with.
“To complement the boost in sales, the company also welcomed a number of new staff to its team this year, moving from 40 to 43 employees throughout the year — 34 of those full time and five on apprenticeship schemes.
“As we look forward to 2022, we have some ambitious targets and plans for the year ahead, but we are confident that the business will continue to go from strength to strength over the next twelve months.”