Founded in 1919 and based in Malton Yorkshire, Bright Steels is still owned by the founding family. A member of Made in Yorkshire, the company has a rich legacy of producing bright cold-drawn steel bars and is now the only business to manufacture bright cold-drawn flat bars in the UK. Over the years the company has weathered numerous challenges and continuously adapted to maintain its competitive edge in a global market. In 2024 they face ongoing challenges regarding Brexit safeguarding regulations and rising energy costs however forge ahead with investments, employee incentives, and sustainability initiatives.
Sustaining Growth through Innovation and Investment
Throughout its history, Bright Steels has focused on both maintaining relationships with customers and suppliers and continuously investing in efficiencies. Philip Jackson, Managing Director at Bright Steels, said: “We have a major investment coming up that will see us upgrade one of our main production lines.” The plans to update the production line will take place in September 2024 and will see changes that allow the company to work more efficiently.
To be as efficient as possible, the company keeps its skills within the business - helping them to communicate better with customers. Philip continued: “It is important to us to keep close contact with our customers, regular visits in person and calls allow us to strengthen our partnerships.”
This dual approach has been instrumental in sustaining growth and ensuring high levels of customer satisfaction. Recent developments also include investments in electric forklifts, aimed at reducing the company's carbon footprint. Additionally, solar panels and LED lighting installations demonstrate the company's commitment to sustainable practices.
Challenges in the Current Manufacturing Environment
Bright Steels faces several industry-wide challenges, including high energy costs and competitive pressures from European counterparts. The introduction of the Carbon Border Adjustment Mechanism (CBAM) in Europe, set to be fully effective in 2026, and similar measures anticipated in the UK by 2027, pose significant regulatory challenges. The potential twelve-month gap where the UK might lag behind Europe in implementing these measures could lead to market distortions, with steel potentially being diverted from Europe to the UK. Philip added: “The introduction of steel safeguarding measures, was and remains a significant challenge for us. After Brexit, our finished product was covered by Steel Safeguarding, but in 2021 that was removed.”
Reshoring and the Role of Skilled Workforce
Despite these challenges, Bright Steels remains focused on supporting customers' reshoring initiatives. While the company continues to manufacture all products in the UK, the closure of domestic steel mills necessitates the import of raw materials. This scenario underscores the importance of maintaining financial strength to invest in raw materials and sustain high service levels.
The company’s commitment to its workforce is evident in its low turnover rate and long-serving employees. With numerous employees having decades of service, Bright Steels attributes this retention to a strong family culture, various employee benefits, and initiatives such as profit-sharing schemes. The company also proactively manages succession planning, ensuring seamless transitions and knowledge transfer as experienced staff retire.
Competing in a Global Market
Bright Steels is now the only manufacturer of bright drawn flat bars in the UK, having outlasted its domestic competitors. The company competes globally, particularly against manufacturers from Europe, the Far East, and North America. This endurance is credited to the company's ability to take a long-term view on investments and its commitment to delivering superior service and quality.
Bright Steels Ltd exemplifies resilience and innovation in the face of industry challenges. With a commitment to sustainability, workforce development, and maintaining high standards of service and quality, the company continues to navigate the complexities of manufacturing. As the industry evolves, Bright Steels remains a testament to the strength and adaptability of family-owned businesses in the UK manufacturing sector.
Find out more about Bright Steels: https://brightsteels.madeinyorkshire.com/
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