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Leading a Low Volume, High Value Manufacturer across the UK, Middle East, Asia and South Africa

Jan Ward CBE, Founder of Corrotherm, talks about leading a ‘people friendly’ business, developing ‘unknown skills’ and how access to finance hampers UK innovation.

By Claire Lauder

“I don’t like people standing still for too long, unless they want to”

Lauder: In your management and leadership teams did you hire people into this level or did you nurture them internally?

Ward: About seventy percent came through from the beginning and we have another layer of people we brought in at a certain level to develop. So it’s a combination. I don’t like people standing still for too long, unless they want to.

Lauder: An EEF report on ‘Reinventing the Manufacturing Workforce6 states that sixty-four percent of UK manufacturers have no workforce plan, impacting profits and training. What is your opinion on that?

Ward: I have quite strong views here because when the government decided twenty or thirty years ago it was their responsibility to train your staff, I never agreed with that! Employers are responsible for training their staff. The government is responsible for giving you the ‘stock’ and the infrastructure to work with.

Lauder: Given the sector is struggling to access enough talent, isn’t reinventing the workplace more important than reinventing the workforce?

Ward: Yes, and I think a lot of us struggle to access talent. You can have the most fantastic, automated equipment, but if you do not have the right people, nothing is going to save you. If you have got only four people in a ten square kilometre factory, those people have got to be really good at what they do. 3D printing is a good example and the biggest issue is finding the people to build the files to transfer over to 3D printing. Where are the skills to run those machines?

Lauder: Are graduates not coming through the pipeline for this?

Ward: There is such a disconnect between skills and education and the system lags behind in technology. For instance, when you hire someone with a mechanical engineering qualification they are not prepared for what is now an IT environment. So the whole infrastructure needs to change. The education sector needs employers to get more involved, but how do we find the time? And how do the schools find time? There needs to be more connectivity, facilitated by a third party.

Lauder: In your view, what are the biggest differences in industry today, versus fifteen years ago?

Ward: There are far more positives today. We have realised in the UK that we are a low volume, high value manufacturer. Fifteen years ago we were still trying to be a ‘far Eastern manufacturer,’ competing in the wrong place, which meant we lost a lot of manufacturers. The running of factories today is far better. Proper IT infrastructure has improved efficiency and stock management, while people are protected by formal health and safety policies.

“Today, funding is all about remote credit teams who know nothing about your business and couldn’t possibly make a judgement”

On the down side, fifteen years ago the banks were much more receptive to manufacturers, despite the UK wanting to become a service-based economy. The banks had much better connectivity with their customers; you did your R&D, went to the bank and secured what you needed to make it fly. Manufacturing leaders therefore took more risk, which was a good thing. Today, it is all about remote credit teams who know nothing about your business and couldn’t possibly make a judgement.

Lauder: Is access to finance hampering innovation in the UK?

Ward: Yes, definitely. There is cash there, but that’s not always known and smaller businesses struggle to apply for it. For example, we have applied for innovation funding and also LEP funding (Local Enterprise Partnership). But the amount of ‘after service’ you have to do for that funding stream and the whole administration of it is absolutely huge.

“Banks shun manufacturing at their peril, because we are the new tech companies”

A large number of people don’t know they can access government funding through their LEP. The bigger firms are applying, rather than smaller businesses for whom the funding was intended. So it is much harder to get funding now. Banks shun manufacturing at their peril, because we are the new tech companies.

Lauder: Female entrepreneurs say they, particularly, have great difficulty getting investment. How can we re-educate the market?

Ward: There is an unconscious bias in the finance industry, where predominantly male executives expect leaders of manufacturing companies to be male. There are some shining women in finance of course, but few are in leadership roles, so we have a prevailing disconnect between the finance industry and female entrepreneurs.

Male financiers constantly look around the woman to see the man behind them. I get it all the time with Corrotherm: “Is this your husband’s business?” Or “Did you inherit your father’s business?” I think it would be different if I was leading a consumer goods or cosmetics company.

“We have had some really tough times…I always know it will work out in the end. I do my best work when I am up against it”

Lauder: So how did Corrotherm come about?

Ward: I had been in the steel industry for about eighteen years. In the company I worked for, I opened up the Middle East market and ended up running three separate companies within the group. Then it got to the point where I had built up an exports and a projects business for three different companies with very limited resources, practically from scratch. So when my team were made redundant, I thought, “I’ve done it for three other people, I’m going to do it for myself now”.

So in 1992 I set up Corrotherm. I hired three former colleagues and gave them shares, because I couldn’t pay them. I sold my car, wrote a wonderful, detailed business plan and went to the bank. At the time, business plans were not common, because banks didn’t usually ask for one. I wrote a plan because I wanted to know what our total aim was. The bank used it later as an example, giving it to people saying, “This is what your business plan should look like”. So I was really quite proud of that!

Lauder: Did you ever have any doubts along the way?

Ward: We have had some really tough times. I am very resilient, but my partners are much more risk-averse than me, which makes for a good balance. We’ve been running this business for twenty-seven years now and I always know it will work out in the end. I do my best work when I am up against it.


For more information about Corrotherm International Ltd and Millers Oils Ltd,
please visit: 
https://www.corrotherm.co.uk/ | http://www.millersoils.co.uk/


1 Corrotherm is a stockist and supplier of nickel and nickel alloy seamless pipe.
2 Energy & Utility Skills bring industry leaders together to identify and address the skills challenges our sector faces.
3 EIC is the leading trade association for companies that supply goods and services to the energy industries worldwide.
4 Red Penguin is an independent multidisciplinary Marine and Cable Engineering consultancy to the maritime and offshore industries.
5 Millers Oils is an advanced lubricants, oils and fuel additives business established in 1887.
https://www.sig-uk.org/wp-content/uploads/2019/02/EEF-Reinventing-the-Manufacturing-Workforce-Made-UK.pdf

About the Author

Claire Lauder
Claire Lauder
Managing Partner, Interim Management, United Kingdom

Managing Partner Claire Lauder leads the Industrial Practice of U.K. Interim Management, focusing on industrial manufacturing, advanced engineering and technology. She works with FTSE and AIM-listed firms, PE-backed and owner-managed small and mid-size enterprises, partnering with investors and leadership teams to understand their strategic goals and identify leaders who help reach them quickly.

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