At the fifteenth annual general meeting of Dowty Equipment, Ltd., held at Cheltenham on December 18th, shareholders learned from the statement of the chairman (Mr. G. H. Dowty, F.R.Ae.S.) that profits had reached a record level, largely due to the contributions of the associated companies.
Over 13 per cent of the sales of the parent company were to countries abroad, and well over a quarter of these to North America.
New components were in production.
The “Vardel” variable-delivery pump would replace the well known “Live Line” pump, and the “Hydel” lightweight solenoid control valve was scheduled for use on a large variety of aircraft types.
Extracts from Mr. Dowty’s statement read :
Turbo Fuel Systems, Ltd. this year has seen a marked growth in our business of fuel pump and burner systems for gas turbines.
Our fuel supply equipment is now standard on several engines, both in this country and abroad Dowty Equipment of Canada, Ltd.
During the year I visited our Canadian Plant and was impressed with its growth. In addition to its regular production, the company has built up a large repair organization for the overhaul of landing-gear, hydraulic equipment, and Dunlop wheels and brakes.
Coventry Precision Ltd., was purchased in May of this year and its aircraft activity will be mainly the manufacture of fuel pumps and fuel systems.
New Mendip Engineering Co., Ltd. our Wiltshire works has increased its capacity by the addition of further plant. “Dowty Auto Units, Ltd.
During the last 12 months orders for mining and industrial hydraulic equipment have substantially increased.
Dowty Seals, Ltd., has a record order book; the number of customers has greatly increased.