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East Midlands Chamber News

Historic Firm Reaps Benefit Of £1m Investment

The team at Eggleston SteelA £1m investment a year ago by one of Derby’s oldest companies has proved successful.

Eggleston Steel, based at the Centurion Way Business Park, can trace its history back to 1809. It provides steel for customers working on a DIY project to lorries full for national companies working in the engineering, fabrication and construction sectors.

Last year, it invested around £1m in a state-of-the-art steel profiling machine and associated equipment, plus new premises to house it.

The new machine – which is housed in Parcel Terrace at the former base of train-maker Bombardier – can cut bigger plates of steel in both size and weight, increasing the range of products and services offered by the company.

Since its installation, the turnover for that section has increased by 36 per cent from £1.21m to £1.5m, contributing to an overall turnover of more than £7m. Managing Director Richard Hewitt hopes that this will meet a target of £2m by the end of its second year.

He said: “The investment in the machine and the associated plant and equipment has paid dividends. It is down to the drive of our profile manager John Ready and his team that this division of Eggleston Steel continues to grow in what is a very competitive market.”

The company has since increased the size of its profile department workforce to six, with two keeping the machine running through the night. And the company is already looking at new machinery to give a further boost to production.