Experts from Sharing in Growth (SiG) have selected Independent Forgings & Alloys (IFA), a rapidly growing Sheffield forging firm, to join its business transformation programme.
IFA, which operates from a 250,000 sq ft facility, now plans to increase its annual sales turnover from £23m in 2018, to almost £42m by 2024. Last year, the company received an £8.5m capital investment from BGF and will now work with SiG to focus on leadership, culture and operational capability.
IFA CEO Andy McGuinness says: “Our growth plans mean we must secure higher volume, long-term agreements in aerospace. This is an extremely price-sensitive market, so we require significant investment in capital equipment, and we need SiG’s specialist expertise to help raise our competitiveness. Otherwise, those long-term contracts will go to multi-national competitors with greater resources and financial backing.”
For further information www.sig-uk.org