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Kierbeck Limited
Kierbeck Limited is the only large steel stockholder in London. The business is involved in the distribution of reinforced steel and bar and is the largest independent supplier in the UK.
Kierbeck also does some pre-fabrication work, such as steel cages to go in the London Underground. These are supplied on an ex-works basis and do not have any CIS implications as they do not fit on site.
The company operates from two sites in London. Head office is based at Silvertown and this is where 25% of the stock is kept. This site also houses the fabrication factory where most of the cutting and bending of the reinforced bar is manufactured and from where most jobs are despatched.
In addition, the site at Barking on the River Thames has its own wharf such that the business is able to import steel at lower transport cost as it can unload straight from the dock into the warehouse. Having the wharf can save the business £15 a tonne in additional transport costs. It also means that occasionally a mill will ring up and say that they have a boat loaded up and offer it to Kierbeck at a very advantageous price which enables further margin enhancement.
Having two sites in London gives the business a major competitive advantage which is going to be of particular significance over the coming months given the level of building in London in preparation for the 2012 Olympics, for which Kierbeck hope to win some tenders.
Kierbeck enjoy a £15m CID line with Leumi ABL, and have been a client since March 2007. Spencer Rees, FD at Kierbeck comments: “We reviewed four or five alternative invoice finance providers and selected Leumi ABL as they were the most competitive, friendly and approachable when compared to some of the bigger, more established players in the market. The decision has turned out to be a good one, as it’s always easy to get hold of our account manager, Gary, as well as Paul, and that continuity in our account management is important to us.”
Summarising the value of the Leumi ABL relationship to Kierbeck, Spencer comments: “It’s absolutely invaluable – it gives the business stability and a constant, reliable cash flow. Clearly the Leumi ABL team have taken the time to get to know us and understand our business, and this helps smooth out the peaks and troughs.”
Kierbeck Limited is the only large steel stockholder in London. The business is involved in the distribution of reinforced steel and bar and is the largest independent supplier in the UK.
Kierbeck also does some pre-fabrication work, such as steel cages to go in the London Underground. These are supplied on an ex-works basis and do not have any CIS implications as they do not fit on site.
The company operates from two sites in London. Head office is based at Silvertown and this is where 25% of the stock is kept. This site also houses the fabrication factory where most of the cutting and bending of the reinforced bar is manufactured and from where most jobs are despatched.
In addition, the site at Barking on the River Thames has its own wharf such that the business is able to import steel at lower transport cost as it can unload straight from the dock into the warehouse. Having the wharf can save the business £15 a tonne in additional transport costs. It also means that occasionally a mill will ring up and say that they have a boat loaded up and offer it to Kierbeck at a very advantageous price which enables further margin enhancement.
Having two sites in London gives the business a major competitive advantage which is going to be of particular significance over the coming months given the level of building in London in preparation for the 2012 Olympics, for which Kierbeck hope to win some tenders.
Kierbeck enjoy a £15m CID line with Leumi ABL, and have been a client since March 2007. Spencer Rees, FD at Kierbeck comments: “We reviewed four or five alternative invoice finance providers and selected Leumi ABL as they were the most competitive, friendly and approachable when compared to some of the bigger, more established players in the market. The decision has turned out to be a good one, as it’s always easy to get hold of our account manager, Gary, as well as Paul, and that continuity in our account management is important to us.”
Summarising the value of the Leumi ABL relationship to Kierbeck, Spencer comments: “It’s absolutely invaluable – it gives the business stability and a constant, reliable cash flow. Clearly the Leumi ABL team have taken the time to get to know us and understand our business, and this helps smooth out the peaks and troughs.”
