AN electrical engineering company is expecting to increase its revenues by one third to £6m this year after completing its largest project on behalf of the offshore oil and gas industry.
Newcastle-based Houghton International has recently carried out work for a leading offshore services provider for an undisclosed six-figure sum.
The Walker-based firm pioneers technical and commercial innovation in the repair, maintenance and life extension of rotating electrical machines.
The company has landed a number of orders for its high-voltage coil products from countries such as Canada, Kuwait, Ireland and Singapore, and now expects to grow its international client base over the next four years.
The workforce completed a £1.5m investment programme to expand its operations facilities into a new 12,000sqft manufacturing facility last August, bringing the firm’s total space up to 37,000sqft.
The company recently exhibited its high-voltage coil products at a trade show in Florida, which generated £500,000 worth of business as a result.
The firm has also benefited from the downturn in the rail industry, which has seen a number of operators call on its expertise to extend the life of their propulsion systems in order to avoid investing in new rolling stock.
This has seen the company provide its services to a growing number of rail franchises over the past year, including South West Trains in London.
It is now looking to grow its sales from around £4.5m to £6m by the end of the year as a result of the increased workload, as well as add five staff to its 84-strong workforce.