Glenrothes based Fife Fabrications Ltd was among the winners at the annual awards dinner of Scottish Engineering, the support group for the industry in Scotland.
The President’s Award for manufacturing excellence was received by John Penman, managing director, from Ruth Davidson MSP, Leader of the Conservative Party iN Scotland.
Established in 1972, the company new employs 116 people and provides a complete sub-contract precision sheet-metal service from design, manufacture, paint, assembly to delivery.
Within the last year the firm has completed a management buyout.
In the 2017 financial year, turnover increased by eight per cent, gross profit by 133 per cent and operating profit by 367 per cent. This has happened despite an increase in raw material prices in the region of 16%. To achieve these figures the company has reorganised the whole shop floor and enhanced their employee training programmes.
Recently the company has incorporated a profit related pay scheme with 10 per cent of quarterly profits being distributed across all team members.
Paul Sheerin, chief executive of Scottish Engineering said: “This is an excellent example of a Scottish based company competing successfully after a management buyout. Their state of the art unit designs and produces high quality high quality goods to the highest standards which is reflected in the continuing levels of turnover and profitability.”