Stowen Announces purchase of Machine Shop
Stowen continues to strengthen it’s service offering, announcing the strategic purchase of a Lowestoft based Machining facility.
This expansion to Stowen’s onshore manufacturing facilities, follows the company’s takeover of Fabrication facilities at the same site – previously occupied by AKD Engineering until 2015.
The machining unit is a significant milestone in Stowen’s business plan of providing, full turnkey solutions across varied sectors.
Managing director Mathew Owen, who began his career as an apprentice in the AKD machine shop back in the 1990s, said the unit was “complementary” to the firm’s other services.
“We plan to use the machining unit, which is equipped with bespoke machines for making and finishing large pieces of mechanical equipment together with our fabrication shops to service multiple industries from Oil and Gas, Renewables through to Food Manufacturers.
“Retaining the experienced workforce, means that we secure the expertise to Stowen and the region.”
Bridging the Skills Gap
Additional to the company’s in-house multiskilled tradesmen, Stowen already have three apprentices from East Coast College in Lowestoft working within the fabrication division. Stowen now plan to bring in an additional two apprentices that will be placed within the machine shop.
Stowen currently has around permanent 40 staff, workforce on a single offshore project can stretch to 100 with subcontractors.
Growing through adaptability
Stowen was founded as an Energy Services company in 2014 by Mr Owen and business partner Colin Stewart.
Launching in October, oil had peaked at $130 a barrel, but was about to begin a decline that would bottom out at just $30 a barrel. Stowen reacted quickly to the fast-changing market conditions, molding the company based on the industry demands.
Stowen continues to diversify across varied sectors. Mr Owen expects work from the Oil & Gas industry to account for 50% of Stowen’s turnover this year, predicted to hit £7.5m
Engaging Stowen as single point of contact, cuts the number of interfaces, reducing risk and adding value.
For further information relating to this article please contact:
Denise Hone – Sales & Marketing Director