Earnings Advance at Ace Winches

MarineLink.com
Friday, May 03, 2013

ACE Winches announced post tax profits of £6.2m for 2012, a 15% increase on the previous year. 

Turnover at the Aberdeenshire-based group soared to £31.1m in the year ended October 31, 2012, a 42% increase on the previous twelve months, with around three-quarters (74%) of the company’s business generated from international trade.

ACE Winches is a company in the design, manufacture and hire of winches, marine deck machinery and the provision of associated hire personnel for the offshore oil and gas, marine and renewable energy industries. Earlier this month ACE Winches secured a Queen’s Award for Enterprise for International Trade, its second award in this category in three years.

The company has continued its commitment to invest in growing the business by extending the scale and capability of its hire fleet with capital expenditure of £2m. This investment coupled with the £7.1m the company spent in 2012 on the development of the group’s manufacturing and hire division facility lays the foundation for future strong growth and expansion.

ACE Winches also completed the development of its global headquarters on its 24-acre Towie Barclay Works campus near Turriff in 2012.

During the 2012 financial year staff numbers increased from 200 to 253. ACE continued to set new records with the highest intake yet of Modern Apprentices engaged on the company’s IMechE- accredited apprenticeship scheme. Forty-one apprentices were employed on the four-year program which covers technical and craft skills as well as business administration.  Six members of staff were graduates undergoing the ACE graduate engineering scheme and a further 12 were engaged in a Trainee Program.

www.ace-winches.com

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Marine Equipment

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Deck Machinery

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

MacGregor's Deck Equipment For Chinese Shipyard

MacGregor, part of Cargotec, has secured a comprehensive deck equipment contract from New Times Shipyard, in China, for Intership Navigation Co Ltd's three new 36,500 dwt Laker-class bulk carriers.

Damen to Refit Helix Well Intervention Vessel

After having docked and repaired the MSV Seawell in 2012 and DSV Well Enhancer earlier this year, Damen Shiprepair Vlissingen (DSV) was contracted by Helix UK to

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2056 sec (5 req/sec)