Eurotec’s humble beginnings – when it sold two pallets out of a garage in Hagen – are looking increasingly distant as the company’s uninterrupted expansion continues. Torque saw the latest development first hand last month…
This year, Eurotec plans to pass the €50 million turnover milestone. To facilitate that, as any visitor to its Hagen headquarters will confirm in the last few years, the manufacturer has been regularly expanding with new halls to create an extended production and warehouse space. Torque’s latest visit to Eurotec includes a tour around recently completed production halls and – as if that wasn’t enough – when we left work was beginning on an additional 3,200 metre² warehouse, which is scheduled for completion by year end. Not bad for a company celebrating its 20th anniversary next year.
“We’re seeing between ten and 15% growth every year,” Jörn Rüschenschmidt, Key Account Manager & Business Developer, tells Torque. “It’s pretty unique, but we are realistic. There will be a time when this growth eases up.”
Employing approximately 150 people, the business still classes itself as a relatively small firm, flexible enough to provide more modest orders. Investment has seen the team grow, including an expanded marketing department, more technical staff (which submits ETA applications on an almost daily basis) and Project Managers. Exports make up around 60% of the business. The firm has plans to set up more subsidiaries around the world, it revealed, whether storage or solely sales offices.
Appearances at internationally-focused shows at home (“BAU is still a lead show”) and overseas will continue – Eurotec will return to the International Fastener Expo this October and November. Trump’s tariffs – including the 25% duty on aluminium introduced this year – have slowed Eurotec’s plans but that other big difficulty facing the fastener market this year – extended lead times thanks to China’s production at capacity – have had a limited impact on Eurotec, thanks to its German production and limited amount of stocks it takes from Asia: “Even small amounts have a big delay. It does affect us, but it is not a major problem. We manufacture lots of product here so we are still stable and reliable.”
Buying significant raw material stock has also helped the firm manage price rises this year. Relationships have helped too, Rüschenschmidt explains: “We rely on our partners and we have stuck by them. We want to work cooperatively and have long term relationships. That philosophy comes from the top of the company. “We never want to be the cheapest. We want to sell quality.” While Eurotec is growing its range, it prides itself on offering a sleek product line-up. Eurotec’s latest catalogue is sizeable at 270 pages, but not as unweildy as some of those offered by competitors. Twenty new pages are dedicated to freshly launched construction timber parts, with other key range expansions including plastic pedestals, a larger construction tie range and heavy tie bars.
Projects
Eurotec does not supply the end user, but it has become more closely involved with projects and applications. “We’ve moved from being a small timber player to now working on complete projects around the world. “Our customer calls us for technical help and we are a supplier for the project. We can even add products that are not in the catalogue. We ask, ‘what part of the project can we also take on?’ We can deliver virtually everything except for the materials, like timber and concrete. So we’ve become a system supplier, not just a screw supplier.”
Due to the local manufacturing of all plastic parts Eurotec now has the option to produce customer specific items, which are not only suitable for the construction industry. This is a significant milestone for Eurotec´s future growth as this new area of operations will continue to be increased. Specifically for this business area, six technicians with deep expert knowledge in product design and production processes are now available to support customers and colleagues. But rest assured, Eurotec’s core remains fasteners for timber, concrete, decking and rebar.
Apart from further expansion of its Hagen facility, Eurotec is currently working on the local production of further fasteners in different dimensions and a suitably large celebrations of a successful two decades in the fastener business next year.
