Alloy Wire International, which employs 33 people at factories in Brierley Hill and Batley in Yorkshire, has promoted Tom Mander to the role after being with the company for more than 17 years.
The move will see previous MD Mark Venables move upstairs to chairman, remaining in the business to guide and advise for the foreseeable future.
This is an exciting next step in the AWI journey and will accelerate its ambition to increase sales from its current £13 million level to £15m by 2025, with most orders now coming from clients overseas.
“Alloy Wire International is a very special business and I’m honoured to take the reins and help guide the company to the next stage,” said Mr Mander.
“We’ve come through the pandemic in a good position and, as a critical supplier, continued to provide our material to customers involved in power generation and healthcare, the latter resulting in our wire being used in the VentilatorChallengeUK.”
He continued: “The last 12 months has seen us increase sales to £13m and achieve significant growth in international markets, including the US where orders have risen from US $1.8m to $4.2m.
“All the foundations are in place to continue this growth and we’re just about to complete a £1m investment drive that will boost stock levels to one of the highest in our sector, whilst adding three new dry drawing and one wet drawing machines to increase production capacity.”
Alloy Wire International manufactures round, flat and profile wire in over 60 exotic alloys, such as Inconel, Monel, Hastelloy, Nimonic and Waspaloy.
Founded in 1946 by John Stockdale in an old ambulance station in Old Hill in the Black Country, the company’s founding principles of ‘manufacturing quality, delivering reliability’ has stood the test of time and remains a crucial part of how it deals with its 6000-strong global client base.
Today, the firm continues to operate across 15 different market sectors and, despite global supply chain disruption, is still delivering material in just four weeks from the order being placed.
Mark Venables, who becomes chairman, added his support: “The senior management team wanted to protect the core values that make AWI so special, so we took the decision last year to make Tom, Adam Shaw and Andrew Du Plessis, MD designate, finance director and technical director respectively.
“This was paving the way for the next generation to take over and Tom’s promotion to MD this week is the next step in that process.
“He has been with us for 17 years and understands the culture and our people. It’s a natural appointment and I’m looking forward to seeing the fresh skills and insights he will bring to the role.”