When Chicago Steel & Pickling suddenly closed its doors in 2001, three men, each with his own unique expertise, came together to create Trai-cor Processing from the bankrupt company.
Anthony Traicoff, Greg Traicoff and Subramanian Visvanathan funded their initial venture with a consulting job and by reselling the seized assets of Chicago Steel & Pickling to its old customers. These same customers were also willing to pay upfront for the initial jobs of Trai-cor Processing. As work increased, so did the company’s capabilities and it rehired many of the old CS&P employees.
Innovative strategies that have moved the company forward are:
- One stop shop. Typically the processes in steel are done by different companies in various locations. For the customer, this means expensive transportation costs and possible delays in processing. By offering end-to-end processing under one roof, Trai-cor is able to drastically reduce a customer’s transport costs. The company is also able to easily make changes to orders and closely monitor all steps in the process.
- Run a tight ship. The steel business is risky and uncertain. Because of this, Trai-cor tries to keep debt low and relies on cash from operations for growth. Leasing empty warehouse space brings in additional income.
- Diversification. In addition to processing services, the three partners are involved in other business ventures, including consulting for equipment installation, specialty foundation and plant construction, and metallurgy. The construction and foundation work provides off-season employment opportunities for Trai-cor’s employees.
How to reach: Trai-cor Processing, (219) 397-1688