WCA September 2023

Industry News

AWI extends employee ownership scheme

Two of AWI’s manufacturing staff, Stuart Hardwick (left) and Daniel Holyhead

All staff at a UK manufacturer of round, flat and profile wire are now shareholders, following a recently completed management buy-out (MBO). Alloy Wire International (AWI), which has two sites in the West Midlands and Yorkshire, was purchased by directors Tom Mander, Andrew Du Plessis and Adam Shaw in January, with the new management team immediately extend- ing the firm’s employee ownership scheme to include all 33 employees. This has been a long-term commitment that first started in 1999, when Bill Graham fulfilled a 23-year vision of putting staff at the heart of the business by giving them share ownership and the same opportunity to benefit from its growth. Mander commented, “Bill’s decision at the start of the millennium gave us a distinctive edge to our business and this was something Mark Venables took on when he led the previous MBO in 2013. “Working our way up in the business, we have seen first-hand what the employee ownership scheme has meant and the sense of commitment and pride it brings. It was a natural decision to use our own MBO to include the new members of staff and get all 33 employees on the same scheme.” Mr Mander added, “There’s a real togetherness across the business, with employees also enjoying a renewed profit share, dividends and [health insurance] membership. Customers even comment about the family atmosphere when they visit.” Alloy Wire International manufactures round, flat and profile wire in more than 60 exotic alloys, such as Inconel, Monel, Hastelloy, Nimonic and Waspaloy. Founded in 1946 by John Stockdale in an old ambulance station, the firm now operates across 15 different market sectors and, despite global supply chain disruption, is still delivering material in four weeks from the order being placed. Alloy Wire International www.alloywire.com Managing director Tom

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September 2023