Midlands manufacturer hits £27 million turnover through exports…
At a time when UK manufacturing exports are giving the sector a boost, one Midlands manufacturer has been recognised for its export efforts after almost doubling its turnover in the last five years through international trade.
Coventry-based T A Savery & Co, which trades as energy absorption specialist Oleo International and hydraulics solutions provider Savery Hydraulics, has grown its turnover from £14 million in 2011 to £27 million today, with 80% of its products being manufactured in the UK and exported overseas. As it prepares for further expansion into India with the construction of a new factory and the launch of a new range of rail product for international markets, the company recently hosted its second ministerial visit in the last 12 months.
Craig Tracey MP, Conservative Member of Parliament for North Warwickshire & Bedworth met senior leaders from the business to understand how T A Savery has engineered a successful export strategy, with a strong market presence in countries including China, Germany, the USA, and more recently, India.
During the visit, Craig Tracey MP learned about the business’ ambitious plans for its new factory in India, which will be open early 2017, and which will focus on manufacturing buffers for the elevator market as the nation continues to be an emerging market for skyscraper construction. The event was the second Ministerial visit the company has received since winning a Queen’s Award for International Trade two years ago, an event which fast made T A Savery an internationally recognised export success story. As Secretary of State for Business, Innovation and Skills, Dr Vince Cable MP visited the company’s China plant at the end of 2015 and enjoyed a factory tour of the Coventry plant last month .
T A Savery is a business that is helping to drive the UK’s manufacturing fortunes at a time when rising export levels are proving a vital factor in keeping the industry competitive in the global market. Both Oleo International and Savery Hydraulics have been exporting products overseas since the early 1900s, with 95% of Oleo’s product range being manufactured in the UK and exported overseas. Latest reports from KPMG show that manufacturing exports continued to grow throughout July 2016.
Craig Tracey MP, who is campaigning to build a stronger local economy for his constituency, hailed T A Savery as a Midlands manufacturing business which is helping to spearhead the local economy, and providing job security for local families. He stated that the export market offers real opportunities for Midlands businesses and urged local firms to explore international markets.
“While exporting may not be a viable option for every business, there is a real scope for local companies to develop and build relationships both across Europe and internationally,” he said.
“In many cases, there has never been a better opportunity for manufacturing businesses to trade with the rest of the world with the amount of success that T A Savery enjoys.”
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