Yesterday, in New York, Acerinox held its Investors and Capital Markets Day, an event at which it offered industry experts first-hand information and assessments on the situation of the company and the market.
The guests were welcomed by Bernardo Velázquez, Acerinox CEO, Miguel Ferrandis, Financial Director, Daniel Azpitarte, Commercial Director, Cristóbal Fuentes, North American Stainless (NAS) CEO, Lucien Matthews, Columbus CEO, Mary Jean Riley, NAS Financial Director, and Chris Lyons, NAS Sales Director, in addition to a substantial representation from the company. Donald Johnston, External Independent Director of Acerinox, an American citizen with broad experience in the financial world, also took part in the event.
In his opening speech, Bernardo Velázquez transmitted a message of optimism and stressed that “the fundamentals are good and our financial capacity is strong, and therefore we are confident about the future”.
As for the Commercial Director of Acerinox, he stressed that “the apparent consumption of stainless steel has continued its growth in all the markets” and he highlighted the global nature of Acerinox, with plants in four continents and a presence in 40 countries, from which it supplies 83 markets in five continents. It was then the turn of the NAS Finance Director to speak, who reaffirmed the company's leadership in the US market and emphasised that “the strategic location of our factory and our production processes enable us to reduce delivery times and offer our customers more advantages than our competitors”.
The analysts and investors present also had the opportunity to listen to the assessment of the Acerinox Financial Director, who submitted his analysis of the market, titled 2015: The Great Paradox. Ferrandis stated that “the foundations of the market are very strong and yet it is weakening”. Therefore, “the situation will return to normal and, at that point, Acerinox will be ready for a process of growth”.
The Chief Executive Officer concluded by highlighting the three main assets of the company in the mid term. Firstly, he spoke of “operational excellence, which will be crucial. Continuing to develop our Plans of Excellence will be one of the keys to reducing costs and achieving better business practices”. Secondly, he referred to “further capitalising on our production capacity, to which Bahru Stainless (Malaysia) is making a contribution”. Finally, he stressed the importance of “continuing investment, which will enable us to optimize productivity, quality and costs and keep the factories up to date with the latest technology”.