Everyone loves a great success story and it doesn’t get much better than building a multi-million dollar company from underneath a house with a father and son team – this is Peter Nuttall’s story, Managing Director of RUD Chains Pty Ltd.
RUD Chains started 29 years ago with one man, Peter’s father, who later hired Peter as the company’s second employee to grow the business. Today it is a multi-national and multi-million dollar company with a turnover of $30 million annually and operates in Australia, New Zealand and the South Pacific.
The RUD Group internationally is a family group based in Germany which has been active worldwide for over 135 years.
The Australian subsidiary – RUD Chains, was started up by Peter’s father in 1984 after seeing a gap in the market for high-quality construction-based products including lifting chains, tyre chains and conveying systems.
RUD Chains is now the market leader in a niche industry, experiencing an average of 15-20% growth year-on-year. Peter says the tremendous success experienced by the company is largely attributed to creating products which are the “Rolls Royce” pick of the bunch.
“My father and I built up this company because we saw an opportunity to develop a niche product in the Australian market and take control of our destiny based on our own hard work,” says Mr Nuttall.
“When we first started up in Australia, there were no physical offices supplying the products we were, just international agents, so that gave us an advantage.
“We’ve continued to grow rapidly, with RUD Chains recently opening its 4th premises, a 6000m2 office, warehouse and production facility in Brisbane employing over 40 people just in this location.”
While the cost of construction materials continues to rise and increasingly Australian businesses are heading offshore for production, RUD Chains is one company that continues to increase profitability with plans to move more production onto Australian soil.
“Having built our new warehouse and production facility, we are increasing production locally, which is a very bold move in this industry where many others are heading to cheaper labour costs overseas,” says Mr Nuttall.
“Three years ago, Australian in-house production accounted for 5% of our total turnover and now accounts for 20% of our turnover, which is expected to rise further as we expand Australian-based production.”
While perseverance and relentless hard work are always key when making it in business, Peter says finding mentors and a strong support network gave his business the boost it needed to grow exponentially.
“I’m part of the Entrepreneurs Organisation – a global network of business owners and directors around the world – and rubbing shoulders with like-minded people has given me the confidence to give bold business ideas a go which was a huge helping hand in growing my business to its current size today.”
Media Contact for more information: Janice Caza – 0405 101 613 or email@example.com
About Entrepreneurs Organisation (EO) Brisbane
The Brisbane chapter of EO consists of 103 Brisbane-based entrepreneurs who have a minimum turn-over of $1 million. The network has more than 9500 business owners in 40 countries, and has an established chapter group here in Brisbane consisting of some of the most successful business people in Queensland.
The entrepreneurs represent a vast range of industries including agriculture, food, mining, legal services, fitness and transport. On average, the total yearly sales for the group is USD$765.921 million, they employ a total of 3286 people and have an average age of 40 years old.