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Oliver Valves announced record order book worth £85million
OLIVER Valves, the Parkgate-based manufacturer of valves for the world’s leading oil and gas companies, has a record £85million order book following another year of export-led sales growth.
The rise in live orders has been fuelled by a surge in sales in key markets including Brazil, the Middle East and Asia.
At £85million, Oliver Valves’ order book is up 38 per cent compared with the same period in 2012.
The strong pipeline comes on the back of 17 per cent sales growth in the year to September 30, with turnover reaching £76.5million, up from £65.5million in 2012.
The company said it expects to hit the £100million mark next year.
Around 90 per cent of Oliver Valves’ turnover comes from exports.
All 18 of the company’s key geographic trading areas enjoyed growth in 2013, with Brazil now the firm’s single biggest market. In the next 12 months, the company expects to increase its presence into more northern areas of the United States, strengthen its foothold in parts of the Middle East and Far East and make inroads into the Indian market.
Michael Oliver, founder and chairman of Oliver Valves, said: “After another stellar performance, with sales up in all of our key markets, it is hugely satisfying to be sitting on the healthiest order book in the company’s history.
“We have maintained our laser focus on premium products, innovation and service, which sets us apart from competitors, and we continue to the fly the flag for quality UK manufacturing overseas.
“With a buoyant oil and gas sector and the company generating income from almost every major global energy market, we can look ahead to 2014 with real confidence.”
During the past year, Oliver Valves has taken significant steps to ensure it can support rapid rates of growth, including the opening of a £750,000 distribution centre, a £700,000 research and development facility and the purchase of a 17-acre plot, all at its headquarters in Knutsford.
David Cornwell, managing director of Oliver Valves, added: “The investment in our main manufacturing site in Cheshire in the past year represents a significant statement of intent.
"We recognise that to stay ahead of the field we need to support innovation and work to ensure our products remain 100 per cent reliant under extreme pressure.
“Our strategy for future growth will continue to involve building strong relationships on the ground in key markets, including boosting our sales force, alongside significant investment in research and development at our UK headquarters.”
Oliver Valves was launched by Michael Oliver in 1979 with a single valve product from a one-car garage. It has grown to supply energy projects across the globe with current clients including Petrobras, Shell, ExxonMobil, Chevron and BP.
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