Sheffield Forgemasters signs long-term support agreement

Global asset management specialists Apex Group has been selected by Sheffield Forgemasters to provide long-term support for its major recapitalisation programme.

Sheffield Forgemasters is set to replace significant amounts of plant and equipment to deliver on its re-capitalisation plan, which will see whole new machining facilities created for defence-critical manufacture.

Apex will provide used equipment management services to generate the maximum business benefits for the heavy engineering specialist through the strategic and sympathetic disposal of its surplus industrial assets.

Steve Marshall, manufacturing transformation director at Sheffield Forgemasters, said: “As we progress with our recapitalisation programme, we have a requirement to dispose of numerous assets which will be replaced with state-of-the-art machining facilities.

“The appointment of a dedicated asset management group ensures that these machines are disposed of efficiently, securing maximum return on those assets and ensuring compliance with environmental best-practice.”

Five large machines are scheduled for disposal by the end of 2023, including large horizontal boring machines and lathes, with a further three ultra-large machines scheduled to go by the end of 2026. 2027-28 will see seven more ultra-large machines decommissioned.

Mr Marshall added: “These assets are some of the largest machines of their kind in Europe, so decommissioning them is a key logistical project. Consideration of the circular economy through this disposal process will be a priority, ensuring that precious resources are re-utilised where possible.”

Apex aims to bridge the gap between buyer and seller, using a trading platform, a global buyer database, and targeted marketing and sales strategies in the disposal of Sheffield Forgemasters’ mature assets.

Apex managing director, Stephen Dugard, commented: “Apex is proud to be involved with this iconic UK company at this time of major strategic investment and growth. It is great to add an organisation with the stature of Sheffield Forgemasters to our expanding list of corporate accounts working under long-term master services agreements.”

Sheffield Forgemasters
www.sheffieldforgemasters.com