Bolting Company Set to Prosper with Projected Growth in Subsea Sector

Prosper is a Lloyds accredited manufacturer of high integrity bolting for all sectors and tiers of the oil, gas, petrochemical and power industries.

Bolting, until recently, was perceived a secondary concern, often ordered late and needed quickly. But despite being a low-cost item, bolting can become extremely expensive if supplied incorrectly due to the associated costs of recovery and repair. With increasing integrity issues within the subsea sector in the last year, this has become more of a concern.

Major OEM clients have been turning to Prosper as a safe pair of hands, as the effects of globalisation sometimes impacts on quality in an aggressive marketplace.

Focus on product integrity

Prosper has committed many front-end man hours to meeting with all market tiers from operators, contractors, OEMs and their subcontractors within the subsea sector to discuss ways to improve and maintain product integrity as the industry explores new regions. As a result of all this work Prosper is now being specified as the supplier all the way down through the supply chain.

The bolting industry has a wide spread of suppliers with differing ideas on what integrity really means and this can prove hazardous as some of our clients have discovered.
Prosper is not a company which relies heavily on marketing, preferring to have a sales policy offering integrity of product and reliable service.

In 2008 Prosper relocated its 100,000 square foot Irvine factory closer to the Midlands headquarters. Production has now achieved an on-time delivery rate of 95%, which is pleasing our management and, more importantly, our clients. The key is Prosper’s ability to balance meeting the delivery demand with maintaining integrity of the product supplied, a standard achieved by our highly skilled and motivated workforce.

Growth throughout recession

Despite 2009 being a difficult year with many clients enduring a reduced turnover, Prosper has achieved significant growth in new business.

Our facilities in Kingswinford and Aberdeen have welcomed an unprecedented number of visitors during 2009 and our staff has travelled extensively to meet clients of all disciplines and discuss alternative bolting, materials and specification types.

During 2009 Prosper quoted many significant projects which would now appear to be turning into hard purchase orders. Vetco, Aker, FMC and Cameron are all predicting an increase in build and their subcontractors are asking us to reserve them capacity within our production programme.

Many of our clients are forecasting significant growth for the next five years as the demand for subsea equipment grows. Examples such as Brazil and Angola (Block 31) support this upward trend. Prosper expects 2010 be a pivotal year and fundamental to our targeted growth plans.

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