Rise in Profits Fuels Bodycote's Expansion
In the first half of 2006, Bodycote International (Macclesfield, England) has experienced a substantial hike in profits (revenue from continuing operations up 21.8%) and spent 50 million pounds ($94.72 million) on 10 acquisitions to boost its heat treatment and testing businesses. Bodycote is planning on investing another 40 million pounds ($75.77 million) this year in expansion.
According to Bodycote, they are continuing to attract new businesses from manufacturers in key markets including aerospace, power generation and health sciences. Bodycote is also looking for additional services and geographical locations to boost its testing business. The company recently bought a 60% share in ISTAS, Turkey's biggest commercial heat treater.