Opportunities For Growth

“Australian manufacturing in a global sense hasn’t been this good for more than a decade. Just last month, the International Monetary Fund (IMF) upgraded global growth for this year and next. Global growth is back and it is synchronised. That means quality Australian manufactured goods – priced right and with the currency exposure managed appropriately – can deliver great opportunities for profitable growth.” claims Greg McKenna, chief market strategist for Sydney stockbroker Axitrader – as per a recent article published in Manufacturer’s Monthly.

Japan, Papa New Guinea and China are the three top suppliers of primary metals manufacturing to Australia, according to statistics. The sector, however, has proven to be a strong area of export for Australia, with fabricated metals in high demand in Hong Kong, the UK and China.

In May 2017, Adelaide surface engineering company, LaserBond, shipped its first customised laser cladding system to China, where the Chinese government is supporting the re-manufacture of metal components. Laser cladding is the process of adding a pure metal or alloy in powdered form to a re-manufactured component – to protect it from corrosion and wear – and gave LaserBond a foot in the door. “There’s no absolute on the future – you just position yourself as best you can until you get there,” said Wayne Hooper, LaserBond’s executive director. “Our strategic international relationships are growing on the supplier side and customer side. We are delivering for companies who are seeking high performance wear resistance in particularly tough situations. LaserBond excels when working in strategic partnerships. As an example, we also designed a machine tailored for an international company that makes a 10-ton crusher roller, which allows them to refurbish it” claims Hooper.

Having that visibility and full traceability, it gives your customers an up-to-date view of your products and that’s when the company comes into its own. Having a connected business is now considered a ‘must’ if your company wants to grow inside and outside of Australia. If your products, services and data is out of date, you will become a difficult company to work with and that will really slow down growth.

We have found our customers who have the capability to grow will invest in new products, capabilities and services.  The Steel Efficiency Review® aims to challenge this way of thinking to provide recommendations to change and improve our customer’s business and at the same time our product and service offer.

Download our State of Market Reports for our insights and learnings after completing 1,011 Steel Efficiency Review® consultations on businesses of all shapes and sizes across Australia. To register for your own FREE Steel Efficiency Review® click here.