Alan Wire Finishes 2020 On A Strong Note
January 22, 2021
By Bob Garrett, VP Sales & Marketing Despite the challenges we experienced in 2020 surrounding the pandemic, Alan Wire finished the year on a strong, positive note with very good volume and improved profit margins. Company-wide, Alan Wire finished 2020 with a significant gain in business volume over the previous year. These were outstanding results under the circumstances. In fact, if you had asked us in April if we felt we could match 2019’s business, we would not have taken that bet. When most distributors and other manufacturers were reporting an anticipated drop of up to 20%, we planned and budgeted for what would hopefully be limited to a 10% drop. What transpired in the ensuing months was an excellent job by our team here at Alan Wire to stay as healthy as possible. Following strict protocol and recommended guidelines enabled us to have continued production, excellent customer service, and actual service levels that were equal to or better than our competition. The year was certainly not without major challenges. We did have several positive cases of Covid-19, especially in the early months. We lost several production days, volume you simply cannot make up. And we suffered from some of the worst possible margins early in the year as copper hit multi-year lows. Then, in the second half of 2020, we got an unexpected lift in copper prices. Additional contributing factors included China coming back on-line, increased worldwide demand, and the effects of Covid on the mining and production side of the business. Alan Wire closed the year with better margins and strong demand from our customers. Although a great deal of uncertainty remains in front of us surrounding the pandemic, the economy, and other factors - we remain very optimistic regarding our position in the market moving forward into 2021. As always, we want to extend our sincere gratitude to our customers, both in distribution and through to the end users who use our products to build a better America. Going forward, we’ll continue to work hard to make life, and business, easier for you. Happy New Year and we look forward to serving you in 2021!