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22 January 2007
UK steel products manufacturer sees two-speed market
Acertec, a UK-based manufacturer of engineered steel products, says that its automotive supply division suffered from the 2006 downturn in UK automobile manufacturing, as highlighted last week by Steel Business Briefing.
In a trading update, the company said that its Stadco operation which supplies body-in-white components to the automotive sector performed strongly overall in 2006 but that revenues were very low in the second half of the year due to a "lull in new model programmes at key OEMs". The company said that it expects this lull to continue into 2007.
BRC, Acertec’s reinforcing steel business, is "performing strongly", the company says, due to "buoyant construction demand" particularly from the power sector. BRC ended the year with an order book 40% higher than at the same stage in 2005 and expects to achieve "substantial further progress in 2007", Acertec adds.
Acertec listed its shares on the AIM sector of the London Stock Exchange in May 2006, following the sale of the UK’s largest steel wire producer, Carrington Wire, to Russia’s Severstal-Metiz in April.
Steel Business Briefing
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