LNG valve engineering specialist Severn Glocon Group has been awarded a Queen’s Award for Enterprise, International Trade for the second time in four years. The company stated that overseas LNG contracts played an important role in this achievement.
The award recognises the British manufacturer’s three year trajectory of continuous growth in overseas sales. Between 2010 and 2012, international trade increased by 120% and now represents 68% of the Group’s total turnover.
New developments in Australia, China, Brazil, India and Iraq were instrumental in the award win. Australia has seen significant growth, with the Group earning ‘top three cryogenic valve manufacturer’ status. It also secured several landmark LNG contracts, including the supply of 536 engineered control valves for the onshore processing plant of the INPEX Ichthys LNG project.
Growth was accelerated by strategic acquisitions of UK firms specialising in subsea and butterfly valves within the three year timeframe. This diversification enhances the scope of the Group’s British engineering and manufacturing capabilities for the global oil and gas industry.
Severn Glocon Group has continued to invest in its facilities and infrastructure. Noteworthy advancements include the relocation of established plant division Severn Unival to purpose-built £2.5m premises in Brighouse, significant expansion of manufacturing facilities in India and installation of sophisticated high-capacity cryogenic testing at Gloucester.
A Regional Growth Fund grant facilitated the opening of a dedicated Valve Innovation Centre at the Brighouse site. This represents one facet of an enhanced focus on R&D which helps the Group compete more effectively with larger US conglomerates. Switching banks enabled the Group to benefit from Government lending schemes and make new bonding facilities, which provide innovative, flexible funding for international trading.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/22042014/lng_valve_specialist_wins_second_queens_award_002/