28 year-old Vanguard Foundry Ltd has announced that it is set to achieve £10m in turnover this year – a record in the company’s history.
Specialising in iron and ductile castings primarily for the turbo-charging and diesel engine markets, the relatively young West Midlands-based company is set to hit the turnover milestone after a £500,000 investment in the plant and capacity.
With the investment allowing for the development of additional capacity, Vanguard has been actively seeking new opportunities in new markets such as the rail industry and power generation. New business has emerged from a company that produces large filtration bodies, and Vanguard has received enquiries about high pressure and submersible pump products – all new areas for the company, and all representing potential opportunities for growth.
John Willetts, managing director at Vanguard Foundry, believes the recent success is largely due to the fact that the business has adhered to its founding principles: “In 2001, sales were round about £2m and this year they are going to be about £10m. We’ve been able to grow because there’s been continuous investment in the business with regards to generating greater capacity, improving productivity and maximising quality.”
Willetts was also proud to announce that the company has had some measure of success in Europe: “[We are] concentrating principally on the German market where they tend to have long lead times and the foundries there are reluctant to produce low volumes so our strengths have enabled us to make inroads into that market.”
He said that another of the founding principles at Vanguard was to maintain quick turnarounds: “If we can turn a product around in 3 or 4 weeks, then it’s a real advantage to us. Staying true to our principles, we believe, has given us an advantage over our competitors.”
Willetts added: “We also look to provide an excellent service to our customers, rather than simply being a casting supplier. For instance, if a customer wants 15 castings, that’s what we’ll provide. Why try to sell them 30? If [they] want low to medium volume than that is what we will give them.”