The Latest News From The Metal Fabrications Industry
Manufacturers of both mild steel and sheet metal fabrications are being given extra
help with regards to the introduction of a new insurance product.
This new product has become available as a result of two insurance firms working together to bring a new insurance package to metal fabricators and processors all over the world, it has been stated.
Bridge Insurance Brokers and Chubb Insurance have released a new specialist, high-spec insurance products to the market which is ideal for precision engineers, manufacturers of sheet metal fabrications and metal processors.
The new product which is called the MasterPackage MetalPro, is able to bring a number of benefits to the industry such as warranty free contract.
Furthermore, the additional benefits that it offers are a no under-insurance penalty if mild steel fabrications producers decide to link their values and commodity price protection and automatic cover for exposure to supply chain risk.
Also included in the package are risk reduction services such as health and safety training.
Gavin Ruben, who is one of the directors at Bridge stated: "We have been working with Chubb for quite some time to ensure MetalPro is the leading insurance solution for the metal fabrication and process industry.
"The new product has been developed following extensive research and development, including research into emerging risks and exposure, customer experience and broker feedback."
Mr Ruben further added that the new MetalPro package is very flexible in that it is able to be adjusted to suit the needs of a business. Moreover, he stated that it was a very unique product in that it was the only policy in the industry that is able to offer explosion as well as machinery breakdown cover as a standard feature.
Welsh company to be boosted by new sheet metal system
In the last few days, a Welsh ventilation firm stated that it would be able to double its manufacturing output thanks largely to a massive investment in brand new sheet metal processing machinery.
Caerphilly-based Nuaire has decided to take a risk and invest 2.2 million in the new system to help back up its future growth, says WalesOnline.
At present, the firm makes use of over 75,000 sheets of metal every year to produce its ventilation products.
Furthermore, in the last 18 months, the firms output has increased by 28% and the additional manufacturing capacity will allow the firm to expand its business into new markets.
Nuaires manufacturing director, Alun Jones, said to WalesOnline that the new sheet metal system would give the company a competitive edge and help transform the company's manufacturing operations.
"The new machinery will bring greater capacity, higher flexibility and lower costs, which, when combined, will allow us to offer further improvements in delivery performance and quality both to our existing and new customers," he stated.
by: Brendan Wilde
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