An engineering agency that made seals for the Thames Barrier has introduced report earnings after a giant funding in its ‘manufacturing unit of the long run’.
Based in 1979 by entrepreneur Chris Rea, AES employs 2,000 workers in 43 international locations, with its sealing units present in pumps utilized in sectors comparable to petrochemicals, prescription drugs and pulp and paper.
Just lately filed accounts present pre-tax revenue leapt to £56million in 2023 from £48million in 2022 whereas turnover was up £26million at £260million.
Success story: AES Engineering employs 2,000 workers in 43 international locations
This was regardless of capital spending of £31million, together with a manufacturing unit at its HQ in Rotherham, South Yorkshire to enhance automation and productiveness.
‘My new manufacturing unit is my yacht and the machines inside it are my Ferraris,’ Rea informed The Mail on Sunday.
‘We’ve taken each pointless human intervention out of the method.’
Rea calls AES a ‘reliability firm’ that helps companies save vitality and water, and function extra cleanly and profitably.
‘Our enterprise mannequin depends on us making issues work longer, which is totally disruptive in our business,’ Rea stated. ‘There is no such thing as a piece of apparatus on this planet that we will’t assist make extra dependable.’
Rea, 70, shared a £12million dividend with minority proprietor 3i, which has backed AES since 1996, making it the buyout’s group’s oldest funding.
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