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

People & Company News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

Finance

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

Marine Equipment

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Piracy Activity Drifts Towards Southeast Asia

Since 2010, there has been a steadily increasing trend of piracy attacks in Southeast Asia, according to a report released by UNITAR (UN Institute for Training and Research),

Total E&P is First to Use FROG-XT4

Total E&P is the first to use Reflex Marine’s newly developed FROG-XT4 on the Odudu field in Nigeria. The French operator purchased the crew transfer device

Deck Machinery

DNV Type Approved Anchor Winch for the Arctic Prowler

JK Fabrication has landed DNV certification for its 40-30-3000-DNV series Anchor Winch. Culminating a two-year process, JK’s C-series winch was at last awarded

Harnessing the Wind for Auxiliary Propulsion

Finnish marine engineering company Norsepower Oy Ltd. announced that it will bring to the commercial maritime market an auxiliary wind propulsion solution aimed

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators 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: 0.3004 sec (3 req/sec)