Jan Ward: How I made a mint in specialist metals

Jan Ward has always been a risk taker. And it has paid off, as the company she started with £3,000 savings, Corrotherm International, now turns over £14m a year.

No one is more surprised at how far she has got in life than Jan Ward herself. "I thought I'd be dead by now, to be honest, because I'm always doing stupid things," says the 53-year-old founder of Corrotherm International. "I can't tell you the number of times I was in plaster when I was a kid. I fell off the roof, fell down the stairs, fell out of a tree, got run over twice by the same bloke. I'm even sat here now with a broken arm."

Born in Southampton, where her father was a steel erector, Ward was 15 when she became pregnant and was expelled from school. "You know, stupid girl." She took on a number of jobs, studying at night and taking correspondence courses until she qualified as a mechanical engineer in 1984. "I was always interested in metal work, in taking things to bits and getting the screwdriver to things." She started work for a company that sold stainless steel tubes to oil firms. When she decided to set up on her own in 1992, she managed to poach some of its clients.

With just £3,000 in savings, she decided to start selling specialist metals to firms in the oil, gas and desalination markets, where high-grade material was needed to withstand corrosion and heat. Occupying a derelict building in Southampton, she brought in three colleagues from her old firm. After that, "all I was doing was re-recruiting my own customers back to my own company. And in the first week, I had an order."

Worth £85,000, the contract was to supply a firm in Turkey with metal tubes for making soda crystals, "a very corrosive process". The metal "the Heinz beans of nickel alloy" was supplied by an American firm. Persuading them to let her sell it on was "one of the biggest hurdles". But by focusing on the Middle East, Ward quickly won business and by 1993 the firm was turning over £1m. This grew to £5m by 2000.

Now, "competition from China is one of our biggest troubles. As much as the Chinese profess to be able to make this material, they can't. But they've convinced customers who have taken the chance. And when the materials have been delivered, they've failed in testing. So we go through cycles of losing business to people who say they can make this material but can't." Still, with turnover of £14m last year, she can't complain too much.

However, Ward stresses that money is not the driving factor behind the business. "I know this sounds bizarre, but I wasn't really motivated by money because, to be quite frank with you, I could be earning an awful lot more than I do now if I went and worked for someone else. But I want to be responsible for my own destiny. I've always wanted to be in control of what happens to me. And that's probably as good a reason as any for going it alone."

As for being a woman in a male-dominated profession, "I've never felt that there is a barrier, that there isn't anything I can't do if I want to. I've always believed that whatever happens, I'll get there in the end. As long as you are good to the customer, they will remember you."

Recommended

Who is the richest woman in the world?
People

Who is the richest woman in the world?

Francoise Bettencourt Meyers is the richest woman in the world with a fortune of $91 billion according to Bloomberg.
17 May 2023
Profile of Kwasi Kwarteng, the leading light of the Tory right
People

Profile of Kwasi Kwarteng, the leading light of the Tory right

Kwasi Kwarteng, who studied 17th-century currency policy for his doctoral thesis, has always had a keen interest in economic crises. Now he is in one …
10 Oct 2022
Yvon Chouinard: The billionaire “dirtbag” who's giving it all away
People

Yvon Chouinard: The billionaire “dirtbag” who's giving it all away

Outdoor-equipment retailer Yvon Chouinard is the latest in a line of rich benefactors to shun personal aggrandisement in favour of worthy causes.
6 Oct 2022
Johann Rupert: the Warren Buffett of luxury goods
People

Johann Rupert: the Warren Buffett of luxury goods

Johann Rupert, the presiding boss of Swiss luxury group Richemont, has seen off a challenge to his authority by a hedge fund. But his trials are not o…
26 Sep 2022

Most Popular

Savings inertia - why we should all be obsessed with interest rates and savings accounts right now, says Kalpana Fitzpatrick
Savings

Savings inertia - why we should all be obsessed with interest rates and savings accounts right now, says Kalpana Fitzpatrick

Are savers still missing out on hundreds of pounds by not moving their cash for better interest rates?
30 May 2023
Best savings accounts – June 2023
Savings

Best savings accounts – June 2023

Interest rates have been creeping up - we look at the best savings accounts on the market right now.
2 Jun 2023
One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills
Energy

One day left for households to claim the £200 Alternative Fuels Payment to help with heating bills

Households could be due a £200 payment if they heat their homes using alternative fuel sources and aren’t connected to the mains gas grid - but time i…
30 May 2023