Potters Bar, Hertfordshire-based copper coldforming specialist Dawson Shanahan, has announced its acquisition of FloForm, the Welshpool-based supplier of coldformed components for the automotive and power semi conductor industries. FloForm went into administration in February, making 80 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 (pictured right), joint managing director of Dawson’s explains: “Although the initial thoughts were to move the existing plant and 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 (pictured left), chairman and joint managing director of Dawson Shanahan added: “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”. The company said the news has been welcomed by many FloForm customers who were facing expensive shut downs on their production lines while 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.