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Job losses not ruled out despite CNC precision engineering group profits

Story added 05 February 2009.

A precision engineering company from the Black Country is continuing to be profitable despite the economic downturn, it has been reported.

In a report for the Birmingham Post, reporter Anna Blackby said that Hampson Industries, which specialises in using its CNC machines to support developments in the aerospace sector, is being buoyed by the surge in interest in the aeroplane market.

Despite this, the firm's automotive division continues to struggle and job cuts have not been denied, with the more successful aerospace tooling branch taking up 92 per cent of the group's activities.

As a result, the firm is still drawing successful feedback, even if the downturn may force Hampson to downsize its operations at its Lancashire base.

Earlier this year, it was revealed by Flightglobal that Hampson Industries was promoted to the FTSE 250 index for mid-cap UK companies, following six US acquisitions over the last four years resulting in a market capitalisation of £193 million.

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