Kolmark Stainless Steel founder Mark Kolodziej struck with speed and precision last week after learning that Rocherlea-based rival McLaine Stainless Steel was being closed down by its former owner, CMA Recycling.

Mr Kolodziej has already bought the company, which will continue to trade as McLaine Stainless Steel from Monday, though it will officially rest under his Kolmark umbrella.

CMA Recycling announced it would close the business at the end of June, sacking its workforce of 10.

The speed of Mr Kolodziej's actions to save the company and its workforce will no doubt stun many of his competitors.

Yesterday the quietly spoken company director was moving into McLaine's spacious workshop headquarters at Rocherlea.

"McLaine Stainless Steel has had the premium range in stainless steel fabrication in Tasmania for many years," Mr Kolodziej said.

"I have always looked up to this place because it has been the place to match - there's nothing else like it.

"They have turned out some magnificent work - amazing work - and now we can continue it."

Mr Kolodziej said he had intended to expand Kolmark, which until last week employed 12, into the Westbury industrial estate.

"But when I realised McLaine's was closing I rang CMA Recycling and asked to lodge an expression of interest," Mr Kolodziej explained.

"I was told they were going to close it, but to send a letter and see if something different would happen."

His offer was accepted on Tuesday morning.

The acquisition of the company means Kolmark is positioned as a major force in Northern Tasmania's steel fabrication industry, with a total workforce of 22 in two specialised workshops.

Mr Kolodziej said the move would allow the businesses to tender for much larger projects and to follow major projects through from fabrication to installation and commission.

"We've already received expressions of interest from existing McLaine's clients," he said. "It's now the challenge to get up and running as fast as possible so people know the company is in safe hands again."