Cladding firm has Midas touch
A TEESSIDE firm which specialises in steel cladding has proved it has the Midas touch, despite spiralling raw material costs and a widely reported downturn in business spending.
Midas Cladding, set up by former workmates Kevan Jefferson and Peter Hancock in 1994, will move into new premises next month after doubling its turnover to more than £2m in less than four years.
It has invested nearly £400,000 in a 10,500 sq ft industrial unit at Riverside Park and plans to sink a further £50,000 in refurbishing the site for the manufacture of composite corrugated steel insulating sheets. Its bulging order book includes Teesside clients Corus, Elementis Chromium and United Biscuits.
“We are kept so busy in the North-east we don’t see the need to go elsewhere,” said Mr Jefferson, who described recent steel price rises as “evil”.
“For a lot of the time we took them on chin - we’d quote for work but by the time they came back to ask you to do the job, the price had nearly doubled.”
Now he said the firm was more likely to split the cost of any increase in the steel price between tendering and supply.
Ironically, he said, it had noticed a spike in orders from Corus, “which is a full circle since we buy a lot of our sheeting from them - they are obviously doing well!”
He said the company, which employs nearly 40 staff, would be looking to recruit later in the year. “The reason for our success is an extremely conscientious workforce. It’s down to their dedication and commitment.”
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