A north west manufacturer, which make buildings more resilient to earthquakes by using spring technology, is on track for a record turnover of £28m.
Rochdale-based Hanson Springs has attributed its strong performance to the company’s decision to expand into new product lines so they were less reliant on the oil industry, which it said can be volatile.
The manufacturer has traditionally supplied springs to the oil, gas, nuclear, power generation and railway industries.
Mr Hanson said: “Hanson Springs is one of the world’s largest independent valve spring manufacturers but our decision to invest in new lines has opened up new markets for us.
“We sell our vibration springs to third parties but they install the springs into buildings susceptible to earthquakes or close to high speed trains and trams.”
Demand for the vibration springs is also credited for the predicted 17 per cent growth in turnover, from £24m to £28m to the 12 months to November 2019.
Mr Hanson said: “Around 80 per cent of our products go to export, with Italy and the USA being our biggest markets.
“Our average batch size is for 10 springs or less so we offer a very bespoke service with a quick turnaround.”
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Hanson Springs said its recent £12m investment in new plant and machinery has “paid dividends”.
The manufacturer uses a system of springs or bearings to float the building above its foundation so it’s better able to withstand seismic shifts, with the same technology also used to reduce vibrations felt in buildings close to trains and trams.
Mr Hanson said: “Our absolute aim is quality. We can make springs of all sizes, with our smallest being the width of a single strand of hair.”
The manufacturer, which employs 230 people in its two Rochdale bases and distribution warehouse in Dallas, USA, also hopes to recruit more apprentices in 2019.
John Hanson, a director in the family-run business, said: “We normally employ about four a year but we’d like to increase that this year as we continue to grow.”