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How Fintech Helped Mettalis to Prosper in Difficult Times

How Fintech Helped Mettalis to Prosper in Difficult Times 

by Humayun Sheikh, CEO, Mettalis

Key Points

  • Mettalis, in common with other companies in the manufacturing sector, has recently faced many problems but despite this has flourished by embracing new technologies and operating processes
  • After acquiring the UK interests of the Dutch firm Van Daalen, Mettalis’ turnover increased significantly but volatile commodity prices meant that fluctuating exchange rates were eating into its profitability
  • Mettalis realised that it needed the services of a currency expert rather than operating through a traditional bank, and now works with fintech company Kantox to define a clear FX strategy and manage its FX requirements to boost profit margins

The manufacturing industry has been going through difficult times; recently the Confederation of British Industry revealed that manufacturing suffered its biggest decline since 2009 in the three months to March. While the report did highlight the fact that production is expected to rebound over the next three months, the steel industry in particular, still expects to see steel usage in China dip around 2% this year and the slump in oil to continue to pull down prices. However, while we’ve faced our fair share of industry troubles, I’m proud to say that we have managed to grow as a business despite these difficulties.

How have we achieved such a prosperous business journey, in the face of adversity? The answer is by embracing new technologies and operating processes - and this is where Kantox stepped in.