Sheffield forging firm spends millions on machinery

Thos C Wild has installed a multi-million pound German-made automated punch press.

Bosses hope the upgraded production facilities will boost turnover by 20 per cent in the next two years and cut waste.

Established in 1929, the firm produces forged rings for critical applications in the oil and gas, aerospace and power generation sectors – from deep sea pipelines to jet engines and rockets.

It employs 70 at its Vulcan Works site on Tinsley Park Rd, including 18 graduates and apprentices.

John Hancock, managing director, said: “We operate on a global stage supplying some of the world’s largest engineering groups.

“It is critical that we keep striving to employ the best talent and invest in our production facilities to remain a leader in an intensely competitive marketplace.

“HSBC UK’s funding gave us the means and confidence to make this significant investment.”

Turnover has quadrupled since a management buyout in 2005.

The punch press is the latest investment over the last 12 years as the firm strives to compete with manufacturers in Asia.

In 2016, it bought specialist forge and furnace machinery, as well as three new buildings to house extended production facilities.

Turnover has quadrupled since a management buyout in 2005.

Lee Manterfield, HSBC corporate director for South and East Yorkshire, said: “Sheffield has a proud history of steel manufacturing so we’re immensely proud to support a market leading and long-established forge in the heart of the Steel City.

“John and his team have considerable experience and knowledge of their markets and are not afraid to make strategic investments to drive productivity and competitiveness. We look forward to seeing the business continue to flourish.”