Focus on struggling customers, says Steel and Tube

STEEL and Tube says the difficult economic conditions and fluctuations in currency created a difficult trading environment, but it will be focusing on customer service, conservation and inventory management in the coming year.

According to the steel company, it will be reinforcing its customer service in order to retain clients, especially as the financial difficulties hit the customers. To do so, it is continuing to focus on retaining capable staff members, and on safety performance.

It will also focus on conserving resources, minimising energy consumption, reviewing and changing transportation systems and minimising waste. This will also involve sound inventory management.

The company says it will exploit the diversity of market segment it services. It is particularly keeping an eye on infrastructure projects, which it is confident of winning.

Although the company says it might be able to exploit the situation to acquire other business, it warns the slowdown is being felt within the steel industry. Both demand and pricing are being affected and steel mills world wide are cutting production capacity to match slowing demand.