Tooling firm plans export expansion

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Hi-tech oil industry tooling specialist Cutting & Wear is expanding in the Middle East, the US and Asia.

The Ecclesfield company, which supplies down hole tooling to drilling equipment manufacturers, has opened a new distribution centre in Dubai and is to open a new facility in Houston, Texas and Asia, to further expand its global presence.

Cutting & Wear regularly exports to the Middle East and its new hub will distribute products to customers in the United Arab Emirates and other key countries.

The company already has a small operation in Louisiana and will open a larger facility in Houston.

Managing director Mark Russell said: “The Middle East has become a key region for us and so it made sense to establish a stock location in Dubai to act as a central facility to distribute our products.

“We will be making regular shipments to the facility in order for our customers to access our consumable products quickly and easily.

“Previously we would ship directly to the customer from the UK. By transporting products from the store location we will cut the delivery time from around a fortnight to only a few days, while also reducing documentation.”

Cutting & Wear employs 76 people and has recorded year-on-year growth, with turnover rising to a record £9.7 million last year. The company now has plans in place to grow by 60 per cent over the next three years.

Cutting & Wear’s export operations are managed by 512 (Sheffield), the international freight management company, based at Sheffield International Freight Terminal on Grange Mill Lane.

The freight company shipped products to 38 countries for Cutting & Wear last year and will continue to deliver products directly to customers, in addition to Cutting & Wear’s new distribution facilities.