Symmetry plans £1m investment

The company hit the headlines recently when senior managers from its Lowther Road plant were suspended after the group’s audit committee said revenues dating back to 1999 could have been overstated to the tune of $16m.

British-born group president and chief executive Brian Moore flew in from Symmetry’s Indiana headquarters this week to take control of the plant, which employs around 400 people.

One of his first acts after arriving was to re-affirm the group’s commitment to Sheffield as a manufacturing centre and the headquarters of its European operations.

“Symmetry has a worldwide presence and is active in Europe. Europe is important to us and this is the headquarters of our European operation,” said Mr Moore.. “This facility is operating as normal and we are shipping product.”

Symmetry recently invested around 3m in Sheffield on a new forging plant to increase capacity, replace old equipment and bring the additional benefits of a modern production route. Now it is to install an additional press, which will increase the total investment to 4m and should be fully operational by the year end.

In addition to supplying the world’s leading medical products companies with surgical implants – including artificial knees, hips and products used in surgical reconstruction – Symmetry’s Sheffield plant also makes safety critical components like turbine blades for top aero engine manufacturers.