NEWS
CEOS KEEN TO BRING MANUFACTURING BACK HOME
Continued from cover
A new report has found a majority of business leaders across the Asia Pacific are actively reducing their reliance on China in their supply chains, which will reinvigorate the local industry. The latest Asia Pacific CEO survey conducted by Westpac’s institutional arm found 57 per cent of large corporations in the region have begun to onshore supply and/or manufacture, to minimise risks within supply chains. Surveying 113 chief executives, the report found two-thirds of firms had experienced significant supply disruptions during the coronavirus pandemic, and more than half had decided to manufacture onshore. Some 63 per cent expected to continue this direction in the future, as CEOs are “likely to see such measures as helping to reduce supply dependence on China,” the survey found. Westpac executive Anthony Miller
said the new approach presented an opportunity to “reinvigorate” local manufacturing. “We’re going to see a focus on smart manufacturing, which will create jobs – particularly high-skilled opportunities – and it’s going to see us build capability in areas where we can be very competitive on an international scale,” he said. This shift coincides with fracturing trade relations between Australia and China, which has hit major exporters in the agriculture and resources sectors. The relationship soured further when Chinese authorities slapped Australian wine makers with import tariffs of up to 200 per cent. Mr Miller noted the responses by senior management during the pandemic had accelerated digitisation strategies, particularly using technology to cope with a remote workforce.
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are based in China, 20 per cent are based in Indonesia, and the balance are divided equally between Australia, New Zealand, Japan and Singapore.
Westpac’s report surveyed chief executives from 113 companies located in Australia, China, Japan, Singapore, Indonesia and New Zealand. The survey was conducted in July and August.
Their companies are distributed across a wide range of industries, with the largest representation from consumer goods (14%), construction and real estate (11%), and financial services (10%).
One-quarter of the respondents
NEUMANN STEEL CELEBRATES 50-YEARS IN BUSINESS
The oldest, family-run reinforcing steel business in the country, Neumann Steel, is celebrating 50 years in business. Part of the Neumann Group, the company has grown from a tenacious operation to a proudly Australian-owned and operated company, employing more than 220 people.
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Anthony Miller - Westpac institutional chief
According to the survey, 69 per cent of CEOs said they had become more resilient as a leader, while 72 per cent of respondents said organisational decision making had become quicker.
“We’ve always innovated, delivering steel solutions to support projects big and small,” said director Marc Neumann.
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Westpac’s report also highlighted a number of firms remained resilient during the pandemic and were able to adapt to changing demand and operating conditions.
Run by second generation directors – Marc and Paul Neumann along with Mark Shearman – as part of the wider Neumann Group, the steel business has flourished over the decades.
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“A lot of businesses took actions to stabilise their operations out of urgent necessity, but in the process, many have brought in changes that promise future benefits — some unanticipated — in terms of efficiency and team cohesion,” Mr Miller said.
The company has had a hand in many projects including the Q1 tower,
Jewel Resort, the Gold Coast Light Rail, the Toowoomba Range Crossing. Neumann Steel also supplies residential home builders throughout south east Queensland and the Hunter Region. The Neumann Group started its first business, sand mining in Currumbin, in 1948. It then began Neumann Dredging to mine for more sand as demand grew. With the excess gravel from dredging, it started Nucon and produced concrete. In 1970 the family opened Nucast to manufacture precast concrete products, which evolved into Neumann Steel in the late 1980s. Neumann Steel operates the largest mesh manufacturing facility in Queensland supporting the reinforcing steel for a large portion of the residential housing market, while also specialising in the supply of custom reinforcing steel required in the commercial and civil markets. Neumann Steel www.neumannsteel.com.au
FEBRUARY / MARCH 2021
