All Steels Reaps Rewards

Steel Business Briefing Tuesday, 16th November 2010

Thirsk Based All Steels Trading is looking to expand its business further afield, it tells Steel Business Briefing.  The company currently sells around 50,000 tonnes/year and aims to double this to 100,000/year over the next 2-3 years.

It plans to send steel into Scandinavia, Benelux and Germany and France, as well as its current business in the UK and Ireland. Mexico is also an attractive import opportunity because of its comparatively low wages and manufacturing costs, according to MD Laurence McDougall.

"Mexico is undoubtedly one of the hotspots for strong economic growth... It is fundamental that our nation makes a deliberate entry into countries like Mexico through acquisition, partnerships or even through new start-up ventures," he says. "All Steels Trading will be exploring all such opportunities."

As a result of its plans, All Steels has won the regional (north east) final of the HSBC Business Thinking Competition, including a prize of £100,000 and £5m of free trade finance over a 3-year period. The company will also be entered into the UK finals to be held in Hong Kong in December.

All Steels sources material globally, selling forward half of the steel arriving dockside, and expects turnover to double to around £33 million this year.  It is the sister company of Thirsk-based stockist Tomrods, SBB notes.