MARINE: Anchor Industries Sees A Soaring Business
Recent Western Cape Business News
ANCHOR Industries, the Cape Town-based supplier of marine and offshore mooring equipment as well as lifting and rigging equipment for general industry, has experienced soaring business during the past financial year ending in February.
MD Dale Hutcheson tells CBN turnover rose some 50% to R150 million, compared to the previous year. And although demand has cooled in line with the local and international economies during the past couple of months, he foresees an upturn again as from the third quarter of this year.
Interestingly, and importantly, the investment in stock rose from R14 million in the previous financial year to R40 million. This, he says, was required to ensure that the company maintains its high standard of service delivery.
“We need to be, of not only on par, even better than our competitors in Houston, Aberdeen and Singapore. We see ourselves as an international business based in Cape Town,” Hutcheson says.
“We pride ourselves on national and international project accolades ranging from Uruguay to Brazil, Angola to Mozambique, Norway to Kazakhstan, Australia, Iran and the Sakhalin Islands in Russia. With our continued emphasis on quality and safety, we have formed partnerships and alliances with major equipment suppliers worldwide”, he says.
With close 9 000 sq m of warehouse space between its branches in Cape Town, Johannesburg and Durban, Anchor Industries is able to manufacture and stock a wide variety of products across its three divisions, among them anchors, chains, wire and fibre ropes, shackles, sockets, sling sets and all associated fittings.
It also provides services including testing, repair, re-certification, on-site socketing, mooring design and spooling of steel wire rope.
Another reason for the hefty investment in stock is that the off-shore and marine sectors are, by nature, haphazard and demand cannot always be accurately predicted. Fortunately, the lifting and rigging sector is more even in these terms and therefore helps to steady the ship, so to speak.
In line with Anchor Industries’ ISO9001:2000 quality policy, extensive work has been done to ensure that all products comply with local and international specifications. Independent testing by the CSIR was carried out on chain blocks, lever hoists, chains and fittings.
In a drive to further improve on service and safety commitment Anchor will independently test all of its lifting equipment.
Offering an all-round service of inspections, registers, certification, sling tags, colour coded safety boards and replacement products, Anchor Industries also provide advice to customers adhering to the Occupational Health and Safety Act.
Anchor Industries furthermore encourages and assists its customers to attain their Lifting Machinery Examining Certificate. With quality and reliability being the pillars of Anchor Industries, the company has recently been approved by the Department of Labour to examine lifting machines and lifting tackle.
As part of Anchor’s continued emphasis on equipping employees with key skills, it takes them through in-depth training to increase industry knowledge. Employees are encouraged by the growth of the company as they can also see it in monetary terms.
The shareholding of Anchor Industries consists of Anchor management owning 50%, the Old Mutual Investment Group’s portion of 24.9% represented by the Entrepreneurial Ventures Fund and the Anchor BBBEE Staff Trust holding the remaining 25.1% of the company’s equity in the form of a Staff Investment Trust. It seems a good way to anchor one’s business.
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