Cwmbran steel couple eye prestigious award (From South Wales Argus)

Cwmbran steel couple eye prestigious award

1:20pm Wednesday 29th July 2009 in News By Jessica Best

A STEEL worker who was made redundant a year ago has turned his fortunes round by setting up a steel supply company now nominated for a prestigious award.

Stephen Walden and his wife Gail, of Croesyceiliog, Cwmbran, lost their jobs within a week of one another in June last year when Barrett Steel closed its Cwmbran operations and moved to Avonmouth.

But a fortnight after being made redundant, Stephen set up Walden Steels Limited - a steel stockholding company which managed a £400,000 turnover in its first year, and is one of 60 semi-finalists in HSBC’s Start-up Stars Awards 2009.

The winning company will be awarded £25,000 at an awards ceremony in London on November 23.

Mr Walden, 51, had worked in the steel industry for 35 years when he was made redundant, after starting as a junior clerk for Thomas Hwyel at the age of 15.

But it was this wealth of experience, scores of loyal contacts and £5,000 of his own money that allowed him to start up a new business despite the economic downturn, with wife Gail, 46, organising the company accounts and paper work.

From its site at New Inn, Walden Steels Ltd sources steel, which it then sells on to companies including builders, fabricators and engineers.

But Mr Walden’s business venture also identified a gap in the steel market.

Many companies will only supply steel sheets in standardised sizes, leading to a lot of wasted materials and extra cost.

But Walden Steels cuts its sheets to the exact measurement required, reducing the waste and delivering it on the same day.

With this special service and a loyal customer base, the Waldens and one full time driver now supply to more than 150 customers and have turned a profit in their first year.

They have contracts in Germany and Portugal, as well as discussions currently under way with Chinese steel works.

Mr Walden said: “It has been hard work, but we have made a profit which in this day and age and in this industry is a huge achievement. It’s great to have this recognition, and hopefully we can now go on and win.”

He said that if they won the prize money, it would be reinvested back into the business with plans to take on more staff and move to a larger premises.

Rival is Gwent solar firm

ANOTHER Gwent semi-finalist in HSBC’s Start-up Stars Award is solar technology company Solaesthetic. The business, based in Raglan, was set up by sculptor Dan Hughes two years ago with the aim of creating solar power devices which can be used on buildings without spoiling their appearance. Mr Hughes, 38, has developed the solaesthetic solar thermal collector - a verticle sculpture which also a generates renewable power for any kind of building. The company has completed a prototype of the collector and is in talks with the Eden Project, Cornwall about installing a demonstration model there. Mr Hughes said he would use the £25,000 prize money to make sure the installation goes ahead. Mr Hughes said: “There are a lot of ideas for renewable sources of power our there, but they can be ugly and you wouldn’t