Interlloy sells warehouse portfolio to support major expansion plans.
This Press Release was first issued by the Business Development Company.
Australian speciality steels market leader Interlloy is in the process of selling off their national property portfolio of purpose built warehouses to underpin major expansion plans.
The warehouse sales are the first stage of a five year growth strategy which will see the business branching into new products and territories. This comes after the company maintained high profitability over the last three years despite the global downturn and its competitors on the ropes.
Interlloy has grown successfully over the last 25 years to become the largest independently owned special steels stockists in Australia, operating in 5 states with an annual turnover of $70 million.
Interlloy director, Nik Sharplin says, “If there is one thing the GFC has taught, there is an enormous amount of business out there if you are focused on outstanding customer service and having the right product at the right price. Our next day delivery of product we have in stock has given us a real competitive advantage and so, we are releasing the capital we have built up in our property portfolio to fund out next phase of extraordinary growth.”
Interlloy Chairman, John Downes believes that Interlloy is a great example of Australian innovation and entrepreneurial spirit.
“To have grown from nothing to $70 million in 25 years is fantastic” John said, “and these guys are only just getting warmed up!
