Apex Group to provide Asset Management Services for Sheffield Forgemasters

Steve Marshall, Manufacturing Transformation Director at Sheffield Forgemasters, said: “As we progress with our recapitalisation programme, we have a requirement to dispose of numerous assets which will be replaced with state-of-the-art machining facilities.

“The appointment of a dedicated asset management group ensures that these machines are disposed of efficiently, securing maximum return on those assets and ensuring compliance with environmental best-practice.”

Five large machines are scheduled for disposal by the end of 2023, including large horizontal boring machines and lathes, with a further three ultra-large machines scheduled to go by the end of 2026.

Seven more ultra-large machines are set to be decommissioned during 2027 and 2028.

Mr Marshall added: “These assets are some of the largest machines of their kind in Europe, so decommissioning them is a key logistical project. Consideration of the circular economy through this disposal process will be a priority, ensuring that precious resources are re-utilised where possible.”

Apex Group aims to bridge the gap between buyer and seller, using a trading platform, a global buyer database, and targeted marketing and sales strategies in the disposal of Sheffield Forgemasters’ assets.

Apex Group’s Managing Director, Stephen Dugard, said: “Apex is proud to be involved with this iconic UK company at this time of major strategic investment and growth. It is great to add an organisation with the stature of Sheffield Forgemasters to our expanding list of corporate accounts working under long-term master services agreements.”

Sheffield Forgemasters was acquired in August 2021 by the Ministry of Defence, which plans to invest over the next 10 years to re-capitalise plant and equipment on site.