The following recounts the history of Steel & Tube, focusing on highlights and major events.
Information is in reverse chronological order.
On December 9, 2013 Steel & Tube Holdings Ltd celebrated 60 years in business
A remarkable achievement and stands as testament to the loyalty of customers, fortitude of Steel & Tube people, and endurance of the organisation as a whole.
Arrium Ltd sells its 50.3% stake in Steel & Tube Holdings Ltd
Steel & Tube becomes 100% New Zealand owned with the majority of shares taken up by institutional investors and a third of shares taken up by retail investors.
Eighty Years in the Wire Trade
Steel & Tube celebrates the 80th anniversary of its popular and iconic Hurricane product range.
Stronger in Everyway
A year of major changes to the way Steel & Tube operates, consolidation and optimising of operations, reorganisation of the structure and moving away from the product to product approach. Broadened product availability through the extensive distribution footprint, a streamlined approach and a greater focus on customers making it easier to do business with the us. A new brand was rolled out across the country as a visual symbol of change and this reinvigoration of the Company.
New CEO Dave Taylor commenced his role on 5 October 2009.
CEO Nick Calavrias stepped down in April 2009 after 19 years leading the Company.
50 Years in Business
50 years in business since incorporation in December 1953.
Move to Electronic Commerce
Steel & Tube became the first steel distribution business anywhere to operate solely through electronic commerce.
Company Restructure Finally Completed
Company restructure which commenced in 1988, finally completed when the engineering businesses of Robt Stone & Company Limited and Southern Cross Engineering were sold.
Overseas Expansion Plan
Steel & Tube embarked on an overseas expansion plan resulting in the purchase of a Canadian-based steel distribution business, jointly with major shareholder, Tubemakers (now Onesteel Limited).
The investment was sold in 2001 following a change in strategic direction.
Restructuring programme and non-core business sold.
Return to core business being: the distribution of steel and allied products and base metal manufacturing.
1989 Cable Price Steel, a national distributor of steel products.
1990 Acorn Pacific Corporation, consisted of Wellington Steel, Fastenings Supplies and Metal Sales.
1992 Stewart Steel, a steel distributor.
1992 GW Taylor Industries, a manufacturer and distributor of longrun roofing and rainwater products.
All Stock Under Cover
Steel & Tube purpose-designed building in Napier. The structure put all stock undercover and afforded time efficiencies owing to easy access for truck loading and unloading.
One of New Zealand’s largest Industrial Businesses
By the late 1980s Steel & Tube Holdings Limited became one of the largest industrial businesses in New Zealand, employing approximately 4,000 people, with annual sales in the vicinity of $NZ670 million.
A Return to Core Business
Economic downturn resulted in a financial loss.
Strategic direction re-evaluated which saw a return to core business: the distribution of steel and allied products and base metal manufacturing.
Growth strategy that significantly diversified activities away from Steel & Tube’s core business.
New Zealand Motor Corporation Limited, a retailer, importer and assembler of motor vehicles.
Domtrac Equipment, specialising in sales of heavy machinery and trucks.
Healing Industries, a manufacturer of paint, chemical, cycles and rubber tyres.
25% ownership: New Zealand Steel Limited.
Tubemakers of Australia entered into the Company’s share registry in 1985 when it acquired 8.8%.
Fletcher Metals Limited became the largest shareholder in 1980 when it acquired 24.92% of the Steel & Tube from British Steel Corporation.
Embarked on a business growth strategy expanding Steel & Tube’s field of activities, leading to creation of Steel & Tube Holdings Limited.
Acquired a number of well known companies of the time.
A Public Company
Steel & Tube becomes a public company and listed on the New Zealand Stock Exchange.
Steel &Tube was formed by merging the interests of steel merchandising companies Stewarts & Lloyds of New Zealand Limited,
The Iron & Steel Company of New Zealand Limited, McLean & Todd Limited.