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£172m orders for steel group Sevefield-Rowen
12:57pm Monday 17th February 2014 in Business news
STRUCTURAL steel group Sevefield-Rowen has said it is in a stable position going forward with an order book of £172 million.
In a trade update the Thirsk-based company said the business is “showing much greater stability” following the completion of the reorganisation last year, and that management expect margins to continue to recover over the next two years.
Identifying signs of improvement in the UK market, the update statement said: “This is particularly evident in the pipeline of potential orders the business is seeing, though it is likely to be well into the next financial year before this starts to have any notable impact on the size or mix of the order book.”
An order book level of £32 million at SW Severfield Structures Ltd (India) remains stable, but needs to be significantly higher to maintain break-even production levels in the factory, Severfield-Rowen said.