Lamenting the “mess” of local markets driven by the ruling ANC, small-cap steel products group Argent Industrial says it is ramping up its strategy to focus on offshore growth.
Argent CEO Treve Hendry is the latest among a string of CEOs who have come out to lambaste the government’s handling of incessant load-shedding and foreign policy choices that some have said would paralyse SA industry. In a bid to stave off the negative effects of the local market, the Umhlanga-based group says it is focusing on growing and expanding its operations outside SA amid demand for its products.
Argent said one of its UK subsidiaries, Fuel Proof, is now expanding its production facility by a third to cater for the demand for larger vessels, fuel farms and transportable hydrogen storage units. Its fuel storage products have just launched in the US. Additionally, Argent said the expansion of Xpanda, its retail manufacturing brand, into the UK is ongoing. Further product additions are planned in the form of Xpanda’s version of the American Shutter product in February 2024.