Dear editors,
News stories recently published in your weekly covering the nail manufacturing industry are not devoid of inaccuracy, while they are misleading and biased.
For far too long, the business of importing nails from the overseas market had been the exclusive reserve of wealthy traders and importers. No doubt it was not in the realm of local small and medium sized businesses to engage in the manufacturing of nails. The landscape has changed over the last two years, with the coming into the industry of local businesses. I am one of these businesspersons who opened up a nail manufacturing company, beginning 2013.
However, for the first two years, our company was under severe constraints of working capital and access to foreign exchange, thus unable to import wire rods on our own to manufacture at full capacity. We recall those days of operating for a month and remaining shutdown for the subsequent two months.
The coming into the market of a steel manufacturing plant, which manufactures reinforcement bar and wire rod has changed our situation for the better. We have been encouraged due to the availability of the raw material from the domestic market and pleased with the possibility of buying whatever volume we immediately need without necessarily tying up our working capital on voluminous imports.
The opportunity created with the opening of Steely R.M.I has indeed helped us to expand and increase our workforce from 18 at the start of operations to 143 now. Understandably, we are waiting in great anticipation for the opening of another plant under the name, C&E Brothers.
Nonetheless, our hopes for the better is dashed with repeated but inaccurate and biased news stories published in your newspaper. It is not, for instance, an accurate account of reporting 48 nail producers have petitioned the Prime Minister’s Office complaining about the monopolistic bent, product supplies and varied prices by the steel company. These views, of any, belongs to two of the nail producers amongst us, but who misled you claiming they represent all producers. Please be informed that they do not.
I can testify to the fact that all nail producers buy wire rod as an input with set prices and without any discrimination for or against any one of us.
It would be unbecoming on your part to report in an ethical manner, but reflecting only the side of the story that advances the interests of these few importers.
Hayal Kassa
General Manager
Hayal Nails & Rods Manufacturing Factory
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