Engineering company creates 40 new jobs as it expands
An engineering company is expecting to double its turnover to £20 million within five years, creating 40 more jobs within the sector. Osborne Engineering Ltd has just acquired another company which sees an addition of a fourth department to its business. The company is also looking to buy other firms as part of its expansion plans.
Osborne Engineering makes bearings for oil, gas and power markets and plan to expand its operations to the Far East over the next five years. They invested £1 million into their business last year, and plan to create 40 new jobs once it expands. Jobs offered will include health and safety as well as engineering jobs.
The jobs will be offered in the Far East when new offices open, in conjunction with its international presence in Dubai and Poland. The firm created a further 20 jobs in 2004, when it bought a Leicestershire firm, Turbo Power Services, through its acquisitions strategy. They said they are also looking to open offices in Africa through this strategy.
The majority of the firm's sales are made from the manufacture of bearings, but it also operates after sales maintenance support as well as its own design department, which is tasked with designing bespoke bearings for the needs of the oil, gas, petrochemical and power generation industries.
The sales and marketing manager for the OEL Group, Hassan Asheg said: "As a group we are now able to offer a more complete and cost-effective training and consultancy solution to our clients. We are in a position to target new training and engineering opportunities and, as such, identify significant growth potential within our existing industries of energy, utilities, oil and gas as well as new opportunities within construction, government, insurance and education sectors. As we operate within markets that have continued to grow in the face of the recession, we have been able to continue with our acquisitions and growth plans and believe we can double the size of this business over the coming years.”