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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Furuno Establishes China Subsidiary

FURUNO ELECTRIC CO., LTD. announced that its new subsidiary in Hong Kong has been established and has commenced business operation on February 1, 2016.   The new subsidiary, FURUNO CHINA CO.

Edison Chouest Opening Mississippi Shipyard

Edison Chouest Offshore locating shipbuilding operations, TopShip, LLC, in Gulfport, Miss.   Gov. Phil Bryant and officials from Edison Chouest Offshore, an offshore

R&M Group Merges with Sea Level Marine

R&M Ship Technologies USA, Inc. has merged Sea Level Marine, LLC. in efforts to increase the range of services offered to the company’s global client base. By aligning resources,

Finance

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

Oversupplied Market Eyes Floating Storage Opportunities

Brent oil price reached lows of $27/bbl in mid-January, but has recovered over the past two weeks to above the $30/bbl mark. Nevertheless, volatility is expected

Marine Equipment

Furuno Establishes China Subsidiary

FURUNO ELECTRIC CO., LTD. announced that its new subsidiary in Hong Kong has been established and has commenced business operation on February 1, 2016.   The new subsidiary, FURUNO CHINA CO.

Novoship to Install Ecochlor BWTS on 4 Tankers

SCF Novoship Technical Management has selected the Ecochlor Ballast Water Treatment System (BWTS) to be retrofitted on three Aframax Oil Tankers and one Product Carrier.

Seaspan Venture: Like for Like

“We don’t usually remove the heads at mid-life on the Cummins engines,” Randy Beckler, Shore Engineer for Seaspan Marine, explained in reference to the 2003 launched

Deck Machinery

Inland Vessel Profile: USACE’s Dan Reeves

The newly built M/V Dan Reeves was commissioned in January of 2016 for the United States Army Corps of Engineers (USACE) Little Rock District. Built by Horizon Shipbuilding, Inc.

Kalmar to Deliver Straddle Carriers for Maher's NJ Terminal

Kalmar has received a large order for  27 straddle carriers from its long-term customer Maher Terminals LLC in Elizabeth, NJ.   The order has been booked into

Innovative A-Frame Crane for RV Sikuliaq

Recently installed aboard the R/V Sikuliaq was Allied Marine Crane’s innovatively redesigned A-Frame crane, which aims to improve the safety and capability of the marine research industry.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Winch
rss | archive | history | articles | privacy | 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: 0.1179 sec (8 req/sec)