Carclo joins in name dropping

Carclo Engineering is to follow Senior and drop the `engineering’ tag from its name later this year. The company, which last week announced the sale of Lee Steel Strip to Avesta Sheffield for £20.5m, said the name change would reflect a change in emphasis of the group from traditional engineering towards higher growth operations. Carclo […]

Carclo Engineering is to follow Senior and drop the `engineering’ tag from its name later this year.

The company, which last week announced the sale of Lee Steel Strip to Avesta Sheffield for £20.5m, said the name change would reflect a change in emphasis of the group from traditional engineering towards higher growth operations.

Carclo operates in the automotive, optical-medical and teletronics markets.

Chairman George Kennedy said: `Despite its unique position in the precision steel strip industry, Lee Steel Strip was no longer a strategic part of the company, the large part of which is now focused on technical plastics.’

Last year Lee Steel Strip made profits of £979,000 on turnover of £27.4m. The firm’s net assets at the year-end were worth £11.2m, with surplus land valued at a further £2.4m.