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Stainless steel wire manufacturer Central Wire Industries welcomes potential steel industry help

Steel News - Published on Fri, 17 Aug 2018

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Yahoo reported that a Perth, Ont., manufacturer of stainless steel wire is welcoming the federal government's study of emergency protective measures for the steel industry as it faces pressure from American tariffs and foreign dumping. Mr Paul From, president and CEO of Central Wire Industries, has been advocating for safeguards for the steel industry. He said that "We're thrilled. We were hoping this announcement was going to come. From our perspective, it means that anyone who is thinking about just moving large quantities of material into the Canadian market, there may be some ramification to that and to think twice before you do it."

He said he's seeing large quantities of cheap steel from Asia coming to the market, driving down prices and making Canadian producers less competitive.

On top of that, his clients in the US have to pay a 25 per cent tariff to bring in his products. Mr From said that "If this market gets flooded and inundated with products it just makes our business next to impossible to run. If we can't compete, it would just mean jobs — for this company and Canada — that would leave."

Central Wire Industries employs 85 people in Perth, producing a stainless steel wire for uses from medical tools to oil and gas extraction.

The plant has been in operation since the 1950s and is also the headquarters of the company, which has plants in the U.S.

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Posted By : Nanda Koijam on Fri, 17 Aug 2018
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