Vision for Growth
Our vision is to build a Group that is globally recognised within our markets as the leading provider of pressure containment and control products and services to customers who operate in highly demanding, safety-critical environments where the consequences of product failure could be catastrophic.
Our strategy is to identify and develop profitable niche opportunities in growth sectors for pressure products and services through a combination of organic initiatives and by acquisitions.
The medium-term strategy of the Group can be summarised as follows:
Divest PMC and transition CSC: FY24
- Divest the PMC division during the third quarter of FY24
- Use proceeds of sale to build balance sheet strength and repay debt facilities whilst ring-fencing funds for investment into CSC
- Expand CSC’s current focus on UK defence programmes toward the emerging hydrogen energy market
- Develop new relationships with global defence prime contractors
- Grow and develop Integrity Management services, including factory reconditioning and recertification services
- Align Group functions to CSC’s future growth
Invest and re-position CSC: FY25
- Invest in CSC’s product offerings and manufacturing capabilities to provide the foundation for profitable growth in hydrogen energy, including competitive product development for storage and transportation solutions
- Grow CSC revenues in hydrogen energy by expanding the existing UK project base and working in collaboration with selected partners
- Win new major contracts with global defence prime contractors
- Invest in the resources of the Integrity Management service and develop recurring revenue streams from retained customers
Accelerate growth of CSC: FY26-FY28
- Continue investment programme into CSC building operational resilience and new capabilities, including supply chain and project management
- Expand hydrogen energy product and service offer into international customers
- Win major new contract with UK defence for next major submarine programme
- Expand global defence international customer base
To find out more about how we delivered against this strategy see this year’s Annual Report.
