Triumph Through Covid-19 | Fibreglass Grating
We would like to take this opportunity in thanking Copperbelt Katanga Mining for thinking about us during the challenges we are all encountering in this COVID period. It is an honour for us to share our journey with you.
Fibreglass Grating is based in Gauteng, South Africa that supplies Grating and hand Railing and FRP Structures for numerous applications.
The marketplace has been impacted massively with huge declining revenue and erosion of profit margins with the declining rand and other unplanned costs. This could spell disaster for a small business and its sustainability. We had no alternative but to respond quickly by cutting costs in the form of overheads and diversify our product range to expand our place in the market.
Cutting costs translated into reducing fixed overhead costs such as rental and salaries. This was extremely tough and sad for us as we were attached to all of our employees who are like family to us as well as leave the familiar surroundings that we had come so accustomed to. It was heartbreaking when we were forced to retrench some of our permanent staff members and three temporary staff members.
Furthermore, we cut our out-sourcing by 90% by assuming all deliveries and marketing activities in-house.
It is with great pride that our staff members eagerly assumed new expanded roles and responsibilities.
Business transactions have not been BAU with extreme delays of containers in transit due to quarantining of crew and vessels and delays in quay and port landside operations amounting to additional unplanned costs and frustration and anxiety for employees and customers. Needless to say, many sleepless nights attempting to expedite deliveries for urgent materials. Fortunately, we were able to mitigate many unplanned costs through proactive and repetitive liaison and follow up with customers and transit companies.
Just when we thought we were making progress and able to withstand the blows, we were further hit by another blow namely massively volatile exchange rates and devaluing ZAR. Fortunately, this was buffered by obtaining some TERS relief funds from government.
Despite all these tumultuous busines times we are living in, we are extremely excited and proud to launch an addition to our product range namely, Roof Sheeting. Keen interest has been shown in the early days within the marketplace and we are very excited about the potential and growth opportunities with this additional product.
Finally, we have solid business and financial plan for the remainder of this year and we are extremely grateful to our existing valued customers who continue to support us and their commitment to timely payments without which, we would be unable to weather this unfortunate economic storm. We look forward to continuous and long-term valued relationships with our existing and future customers.
We have created a mutually supportive atmosphere for our employees and customers that has kept our hopes and dreams alive. We trust that we will grow and become more resilient to whatever life deals us.
“Success is not final; failure is not fatal: it is the courage to continue that counts.”
Winston Churchill.
Email: maxine@frpproducts.co.za
Web: www.fibreglassgrating.co.za
