Dawson Shanahan Limited, the Potters Bar based copper coldforming experts, has announced its acquisition of FloForm, the Welshpool based supplier of coldformed components for the automotive and power semi conductor industries. ForForm went into administration in February, making eighty members of staff redundant.
Dawson Shanahan, which has had a long working history with FloForm, has purchased FloForm and all its assets and has taken the strategic decision to retain the Welshpool site and re-instate 12 employees immediately, with the hope that the figure will double within 18 months.
Les Reeves, Joining Managing Director of Dawson’s explains: “Although the initial thoughts were to move the existing plant & machinery to our Potters Bar headquarters, on meeting with the FloForm employees, it quickly became apparent that they possessed skills, expertise and enthusiasm that we could not expect to find elsewhere. In addition to this, those who have worked for FloForm have been with them for many years, have a real loyalty to the company and share our determination to make this new venture a success”.
David Dawson, Chairman and Joint Managing Director of Dawson Shanahan adds: “The new technical and process capability that this acquisition offers us will enable us to extend still further the customised product range and technical expertise we can offer our customers. We see this move as a long term investment in both the technology and the people rather than a quick profit making exercise, and as a natural progression for a long business relationship between the two companies which has spanned over thirty years”.
The new venture will be known as Dawson Shanahan (Wales) Limited and production at the Welshpool site will resume in the very near future, news which has been welcomed by many FloForm customers who were facing expensive shut downs on their production lines whilst they sourced customised components elsewhere. The new venture will specialise in manufacturing injector sleeves for diesel engines while other products will be manufactured in Potters Bar.
Mick Bates, Welsh Liberal Democrat Assembly Member for Montgomeryshire, was pleased to hear of the acquisition and commented: “In this challenging economic, it is refreshing to hear good news and that local jobs have been saved. I am pleased that Dawson Shanahan has recognised the dedication and loyalty of the workforce, and has put their faith in them by keeping the manufacturing capacity in Welshpool open.”
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