The US owners of a former family firm in the North East say its acquisition is a “significant milestone for electromechanical engineering in the 海角视频”.
Houghton International, which had been in the Mitten family since being established in the 1980s, was bought by Integrated Power Services (IPS) in May, making it part of a global network of companies. IPS said it had invested in the Newcastle site and the firm would also benefit from its greater reach and resources as it developed.
The company had built up a strong reputation for innovation and quality in rotating electrical machinery’s repair, maintenance, and life extension, initially operating from the Tyne riverside and moving to the historic Parsons works in Byker in 2020.
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Under its new owners, the company is look it expand its capabilities in the wind energy sector, focusing on repair and refurbishment with the aim of reducing waste to improve the environmental impact of wind turbine operations.
Craig Hutton, area general manager of IPS Newcastle, said: “This acquisition is an important step forward. As part of IPS, we now have access to advanced technologies, a broader service offering, and a worldwide network of expertise. While our name has changed, our commitment to delivering exceptional service and innovative solutions remains at the heart of everything we do.”
IPS said its ownership had given the North East facility access to higher levels of stock, while it would also be looking to improving the skills of the Newcastle workforce.
The South Carolina firm is a leader in the servicing, engineering and remanufacturing of electrical, mechanical, and power management assets, with sites around America and Canada. Its deal for Houghton marked its entry into the 海角视频 and European markets.
Accounts for Houghton International in its last year of family ownership were released last month, showing that turnover rise from £10.3m to £12.5m and operating profit went up from £829,000 to £1.3m.