New contracts secured by Wrexham Mineral Cables (WMC) – combined with the launch of new products – means the company is on target to achieve its most successful year ever.
Turnover is set to reach £8million this year – an anticipated increase of £2million – with exports accounting for 83% of sales.
Export sales are driving its growth which, with support from the Welsh Government through trade missions and visits, has seen exports rise from just £1000 for its first order seven years ago to £6.6m anticipated this year.
WMC, which works in a very niche market, is the only company in the UK making highly specialised fire survival cables and one of only a handful worldwide.
The cables can withstand temperatures in excess of 1000°C and used to provide circuit integrity for power and control circuits of critical equipment in a fire situation. WMC pride themselves on quality and service which has help to ensure increase in demand from major infrastructure projects in the Middle East.
This month WMC has secured new orders from Thailand, Sri Lanka Mauritius and South Africa; it has also won a £1.3m twelve month supply contact to the Middle East and had its supplier approval renewed by Kuwait Oil Company worth c£2.5m over the next five years.
It is currently supplying a number of security installations in the Middle East; supplying cables for LPG storage tank farms and LPG filling plants in Kuwait as well as supplying a new multipurpose stadium and the refurbishment of an existing stadium in Qatar for the 2020 World Cup.
Economy Minister Edwina Hart said: “This clearly illustrates the value of seeking new international markets and shows how initial small orders can lead to on-going business. I am delighted WMC is benefiting from the Welsh Government overseas trade programmes that are helping to deliver results.”
WMC now exports to 20 countries around the world, with nine distributors and stockists in key markets and has plans to target Iraq and Iran and make further inroads into Asia.
Mr Dave Winship said: “We have seen extraordinary growth in recent years and international trade support from the Welsh Government has been vitally important. It is all the more remarkable as our first order secured after attending our first trade mission was for £1000 – now seven years later exports account for 83% of our business.
“That first trade mission set the ball rolling, helped to get our product in the market place and we have continued to build on this to promote the business.
“We are now a trusted brand throughout the Middle East and participation in Welsh Government trade missions has played a key part in winning these contracts as well as accessing new markets like Sri Lanka and Thailand.”
Earlier this year a £6m investment to extend its factory on Wynnstay Technology Park – opened by First Minister Carwyn Jones – increased manufacturing capacity and enabled the company to launch a new production line – and six new products for the recovery of heavy oils in various locations around the world.