US global technology and software giant Emerson has signed a record-breaking £16m deal with North West spring manufacturer Hanson Springs.
The supply agreement is spread over two years and represents around a quarter of Hanson’s sales, which are predicted to help grow turnover to a record £33.5m in 2024 and £38m in 2025.
The backdrop for the contract signing was Rochdale Town Hall, which has just reopened after a multi-million pound restoration.
Malcolm Hanson, who founded Hanson Springs in 1963 and remains the managing director, described it as a “landmark day in a landmark building”.
He said: “It gives us the confidence to expand and invest in plant and machinery to make us even more efficient.
“We’ve always had a really good relationship with Emerson, which has been built over a number of years.
“Our success is based on producing high quality products, integrity and sticking to deadlines.
“We’ve always done contracts on a handshake because our word is our bond. This gives us certainty and it’s fitting that it should come in the middle of our 60thanniversary year.
“We’re good at what we do and we’re very proud to be based in Rochdale. When Emerson said they were flying over to sign the contract we decided the refurbished Grade 1 listed Town Hall was a fitting location for the ceremony.”
David Schoonmaker, category manager in metals and molded products at Emerson, said: “There is a spring in every valve we make. For more than 60 years, Hanson Spring has been, and continues to be, a world leader in spring manufacturing.
“Malcolm Hanson’s experience and passion for spring making is instilled in his family and reflected in his incredible team of people.
“The signing of this contract recognises Hanson’s outstanding performance, consistency, reliability, and dedication in support of Emerson through the years. It is a symbol of our shared commitment to achieving both competitive excellence and collaborative success, further solidifying our relationship going forward. Let’s crack on, together!”
Rochdale Mayor, Cllr Mike Holly, said the newly refurbished Town Hall was the perfect setting for the contract signing ceremony.
(L-R) Rochdale Mayor Cllr Mike Holly; Doug Johnson; Emerson VP of supply chain; Malcolm Hanson MD of Hanson Springs; Andrew Tsang Emerson VP of Global Operations
Headquartered in Gorrells Way, Rochdale, the family-run business includes Malcolm’s two children – John Hanson and Lisa Jenkinson, who are both directors, and three of his grandchildren, Luke Jenkinson, 24, Ellie Jenkinson, 20, and Amy Hanson, 20.
The company started making parts for the textile industry in 1963 but expanded into the oil and gas and power generation sectors. The springs are mainly used in valves.
More than 84 per cent of the company’s products are exported to 48 countries around the world with the biggest markets being the US; Italy; and China.
To support the anticipated increase in international sales, Hanson Springs have been assisted by their lending partner Independent Growth Finance, agreeing revised parameters on their existing structured finance agreement.
Louise Lee, relationship director at IGF, commented: “We are delighted to continue our support of the business as it expands internationally alongside Emerson.”
The company employs 225 staff, including one member of staff for 60 years; two for 50 years; seven for 40 years; and 11 for 30 years.