Leading foundry re-employs redundant staff

Castings plc said it was now operating at pre-recession levels and in its machining business at levels above those in 2008. It was pleased to report that it had re-employed a considerable number of people who had been made redundant and had also taken on "many new employees", while the company's major customers "appear to be optimistic about the future". At the Castings Brownhills site previous levels of production were being achieved, and the company's William Lee subsidiary was producing at record levels and nearing capacity. Castings' CNC Speedwell machining business had a record year achieved by obtaining new customers, machining third party castings and an improvement in traditional business. Castings also announced it was at advanced stages of obtaining planning permission to build a £5m warehouse and possible manufacturing facility on land it acquired three years ago and hoped the project would be complete by the end of the year. Sales for the year ending March 2011 reached a record £105.4m, up from £60.6m, while profits increased from £9.8m to £15.5m.