A Sheffield based international supplier of downhole tool technology to drilling equipment manufacturers has opened a new stock location in Dubai.
Cutting & Wear in Ecclesfield exports products regularly to the Middle East and the new central hub will act as a distribution facility to customers in the United Arab Emirates and other key countries.
The company, which began in 1968, manufacture downhole tools and hardfacing consumables for the oil and gas drilling industry and has seen continued growth in its international trade with more than 50 per cent of its turnover exported.
512 (Sheffield) manage Cutting & Wear’s export operations and work with the company to deliver products directly to customers and to distribution facilities.
In 2013, 512 handled 643 shipments, with a total weight of 186,619kg, for Cutting & Wear to 38 countries.
Cutting & Wear already has a small stock location in Louisiana for its QuickTip licensees, and plans are in place to open a further larger facility in Houston, Texas, to support the company’s export market in the United States.
A third location is also being proposed in Asia as Cutting & Wear establishes a larger global presence.
Cutting & Wear, which employs 76 people, has enjoyed year-on-year growth with turnover at a record level last year at £9.7 million.
The company has plans in place to grow by 60 per cent over the next three years.
Mark Russell, managing director at Cutting & Wear, said:
“The Middle East has become a key region for us and so it made sense to establish a stock location in Dubai to act as a central facility to distribute our products.
“We will be making regular shipments to the facility in order for our customers to access our consumable products quickly and easily.
“Previously we would ship directly to the customer from the UK. But by transporting products from the store location we will cut the delivery time from around a fortnight to only a few days, while also reducing documentation.
“512 (Sheffield) handle all our export requirements and are instrumental in delivering our products to wherever they need to be.
“512 will manage the shipment to our store locations and handle the distribution from there to customers across the Middle East.
“Their support, guidance and professionalism have been invaluable to our business to allow us to reach more customers around the world.”
Cutting & Wear are based in a purpose built 38,000 sq ft manufacturing facility in Sheffield and is a previous winner of The Queens Award for Export Achievement.
Karen Mosley, head of business development at 512 (Sheffield), said:
“The continued growth of Cutting & Wear is excellent news and an example of how exports can be vital in expanding a company’s turnover significantly.
“At 512 we are pleased to help manage their international trade activities and organise the delivery of products either directly to customers or to the stock locations.
“The potential for further Cutting & Wear distribution facilities is exciting and an example of a Sheffield business thinking on a global scale for long-term success.”
512 offer a full range of export and import services to businesses. It manages up to 200 export consignments a day to thousands of locations around the world, providing support with airfreight, seafreight, courier, trailer documentation and insurance.
The company is based at the Sheffield International Freight Terminal on Grange Mill Lane, a 14,000 sq ft facility which provides exporters with a regional location to transport goods to thousands of overseas markets.