Sector Focus


Manufacturing Entrepreneur takes on China By Jon Griffin


Croupier turned magnet entrepreneur Vincent Cosgrove is gambling his future on a ground- breaking business venture – taking on the Chinese at their own game. Vincent, who spent years


working in casinos around the world, is the brains behind Scribers Magnet Solutions, a new initiative which aims to dramatically cut import costs from China. Vincent said: “Magnets are


second only to electricity in terms of necessity; without them, we'd be living in the Dark Ages. Speakers, MRI machines, electric motors, the list is endless." The entrepreneur, whose CV also


includes almost a decade teaching business, is aiming to tap into the £12bn global magnet market with his new Hall Green-based operation. “We are seeking to shake a


seemingly unshakeable belief that buying direct from China is the cheapest option. “Magnet importers who aren’t


using us are losing hundreds, perhaps thousands, in transport costs per year because the bulk of shipped pallet costs occur at the destination port. Shipping firms know the importer will pay up or their goods won’t be released from customs. Subsequently, this allows shipping firms to offer very generous terms to Chinese trading companies when shipping as far as UK ports. “As far as we are aware, we are


unique, the only


Milestone for family-owned firm


An engineering firm which was founded in Birmingham is celebrating its 70th anniversary. Bearwood Engineering Supplies


Limited, family owned since 1946, built its reputation on supplying hard to find and often obsolete parts, saving customers upgrade and replacement costs. Today, the company supplies


new and replacement equipment to a wide range of industries, from oil and gas, to mining and construction. The company has opened a subsidiary in the United States, Bearwood International LLC. Current projects around the world include equipment supply for the construction of the Hong Kong- Zhuhai-Macau Bridge, and specialised couplings for a major tram system in Romania.


60 CHAMBERLINK February 2017


Magnetic fields: Vincent Cosgrove


‘We are seeking to shake a seemingly unshakeable belief that buying direct from China is the cheapest option’


importer/stockholder of bespoke customer magnets in the West Midlands, perhaps the UK. Initially, the immediate priority was to perfect the model on a pallet by pallet basis – caution was the key word. “We can source and supply


almost any metal component from China. I can match or beat any Chinese supplier on product price


but they cannot match me when shipping those goods to the UK or stockholding them for the customer.” Vincent said he believed Brexit


and the falling pound had made many potential customers rethink their business strategies. “Chinese exporters will not accept


sterling – everything has to be paid in US dollars so importing costs


have risen with the pound falling. This leaves magnet importers open to new cost-saving ideas and we have them. “We’ve gained several clients and


we’ll build on that significantly in 2017 with the move to containers. I’m lucky because my Chinese business partner Tony, already runs a successful magnet trading company so we know how our competition thinks and operates. “We're not paying the mortgage


off yet but I firmly believe if you can mix it with the Chinese, you can survive in business anywhere.”


Forge your own export deals


A Birmingham management consultant is urging local manufacturers to ignore the ‘Brexit’ battle with the European Community and forge their own export deals with other global markets. Paul Cadman (pictured), a former managing


director of Oldbury-based design specialist Futura Design, said that industry should not become ‘fixated’ with the negotiations to leave Europe, and instead focus on boosting exports. He said: “I understand that negotiations will be


complex but we seem to be fixated on Government leading the way rather than increasing our exports to new world markets. “A reduction in sterling means that our products


are more attractive so instead of feuding with the EU why aren’t we unleashing the potential of the world’s best manufacturers into the global marketplace. “Once foreign businesses find out how our goods


and services are, they will put pressure on their own governments to come up with mutually beneficial trade deals.”


Picture by Marc Kirsten


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