Company showcase: Spirax-Sarco Engineering

Acquisitions and strong R&D investment keep the group in strong stead.

by MT Staff
Last Updated: 06 Dec 2017

Website: spiraxsarcoengineering.com

Head office: Charlton House, Cirencester Road, Cheltenham, Gloucestershire GL53 8ER

Number of employees: 7,180

COMPANY SUMMARY

Spirax-Sarco Engineering is a multinational industrial engineering group that has its headquarters in Cheltenham, England. The Group comprises two businesses: Spirax Sarco and Watson-Marlow Fluid Technology Group. Spirax Sarco is the leading global provider of engineered solutions for the development and maintenance of industrial and commercial steam systems and, since July 2017, innovative electrical thermal energy solutions. Spirax Sarco’s products, engineered packages and site services help end users to improve production efficiency and product quality; reduce energy costs, water usage and emissions; achieve regulatory compliance and enhance the safety of their operations.

Watson-Marlow Fluid Technology Group offers solutions for a wide variety of fluid path applications with highly accurate, controllable and virtually maintenance-free pumps and associated technologies. The Group has 25 manufacturing sites across the world; employs more than 7,000 people, of whom over 1,500 are direct sales and service engineers, in 60 countries; and serves more than 100,000 customers through a global network of 110 operating units, 16 sales offices and distributors. The company’s shares have been listed on the London Stock Exchange since 1959 and it has a market capitalisation of more than £4bn.

PEOPLE AND DEVELOPMENT

Our people are our greatest competitive advantage and we invest extensively to develop their knowledge and skills. During 2017 we furthered the development of the Spirax-Sarco Academy (established in 2016), which oversees the learning and development of the Spirax Sarco steam specialties business’ customer-facing staff and established a global, Group-wide graduate programme to attract and retain top talent.

DIVERSITY,SOCIAL RESPONSIBILITY

We believe that diversity of gender, age, culture, experience and expertise enhance our ability to operate effectively and ethically. We are an equal opportunities employer and are fully supportive of international human rights principles. Through educational outreach programmes we seek to develop future engineering talent, address gender stereotypes around STEM (science, technology, engineering and mathematics) careers and encourage women into engineering.

COMPANY CULTURE

Our core values of respect, accountability, passion, integrity and delivery provide the foundation upon which we manage our global operations and interact with stakeholders. We operate to the highest standards of business ethics and focus on doing what is right, while putting our customers first and delivering value to shareholders.

ENVIRONMENT AND SUSTAINABILITY

Sustainability is at the heart of our business as we innovate and manufacture products that improve the sustainability of our customers’ operations. Using externally verified methodology, we estimate that end users who purchased a select range of our energy management products in 2016 will save approximately 4.4 million tonnes of CO2 emissions annually. We operate sustainably by managing our business for on-going financial success, complying with laws and regulations, managing our social and environmental impacts, working with customers and suppliers to improve the sustainability of their operations and acting ethically at all times.

INNOVATION

Our direct sales business model gives us a deep understanding of our customers’ needs and we continuously innovate to deliver outstanding products and services to meet those needs. As we invest in R&D we widen our product range, develop technologies that increase our addressable market and respond to market trends.

OPPORTUNITIES

During 2017 we acquired Gestra, a technology leader in advanced industrial boiler control systems, and Chromalox, an electrical process heating and temperature management solutions specialist. These businesses will provide exciting opportunities for growth as we invest to expand their global presence.

Our direct sales business model is highly effective at uncovering opportunities to improve our customers’ industrial systems and processes which, combined with the high proportion of sales derived from end users’ maintenance and operating budgets and the diversity of the markets that we serve, makes our business highly resilient.

As we continue to put the needs of our customers first, develop the skills of our people and focus on implementing our strategy for growth, we remain well-placed to deliver value to our stakeholders.

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