A Darlington based product designer, manufacturer and global supplier of fire, blast and heat hazard protection has been listed as one of the UKs top private companies – and with the fastest growing profits over three years – in one of the country’s most prestigious business league tables.
Mech-Tool Engineering Limited has been listed 26th on the prestigious Sunday Times Profit Track 100 – a league table of high performing private companies published every year by the Sunday Times – and which lists Britain’s top 100 private companies with the fastest growing profits.
The company – which employs over 200 staff – has posted record trading with their league status on the profit track table showing a 90% profit growth over the last three years. This follows international contract awards in South Korea and Kazakhstan and sees the fire, blast and heat hazard specialist top a Sunday Times Listing for a second successive year. Only 12 months ago the business was ranked 10th in the International Track 200 for private companies with the fastest growing international sales.
Formed in 1969 Mech-Tool Engineering Limited has carved a reputation as a leading provider of fire, blast and radiant heat protection to the offshore and onshore oil and gas, nuclear, energy and chemical sectors. The company provides safety solutions in some of the world’s most extreme environments and on globally renowned projects. This includes oil and gas company Total’s Martin Linge scheme – located in the Norwegian North Sea – and which was designed as one of the world’s most sustainable oil and gas production projects.
Speaking about the Profit Track Listing Marshall Garner, CEO of Mech-Tool Engineering Limited, said: “Topping the Sunday Times Profit Track rankings is a fantastic reward and a real recognition of the hard efforts of the whole Mech-Tool Engineering team. We have made some substantial investment in our technology and business over the last few years, all of which has been firmly built on our skill set and manufacturing expertise in the North East of England.
“This has included the formation of a Korean plant which has taken all the best practice of our Darlington and Teesside operations and has enabled Mech-Tool to undertake rapid international expansion. This, combined with the wealth of experience and skill in the UK, has proved invaluable in securing work for the design, engineering, fabrication and supply of fire and blast protection products across all our market sectors.”
The company is seeing a whole raft of contract wins internationally, domestically and across Europe. Most recently this has resulted in securing design contracts for prestigious UK Renewable and Defence Industry Projects; modular buildings for schemes in Kazakhstan and topside cladding for the highly acclaimed Johan Sverdrup development. The latter being one of the largest oil discoveries ever made on the Norwegian continental shelf.
With Headquarters in Darlington, Mech-Tool Engineering Limited has offices across the globe including Aberdeen, Houston, Korea and state of the art manufacturing plants in Teesside and Korea.
The company offers a complete end to end solution for fire, blast and radiant heat protection from initial design and consultation through to manufacture and assistance with on-site installation. Turnover in the coming years is likely to show an increased proportion of sales coming from the supply of turnkey modularised buildings where Mech-Tool provides an integrated service across the structural, electrical, Heating Ventilation and Air Conditioning disciplines.
The company posted a record 35% increase in sales to £35m in the year ended 31st March 2015.