A Chepstow company specialising in designing and manufacturing lightweight, portable lifting equipment has notched up a 40% increase in sales this year following a major breakthrough into key export markets.
REID Lifting, which has benefited from Welsh Government support in developing its international business, now exports 55% of its products to Europe, Middle East and USA.
Reid, which is based on the Newhouse Farm Industrial Estate, pioneered the development of lightweight, portable and safe lifting systems. Their extensive range of products are used for lifting and moving anything from priceless pieces of art in the Vatican to manhole covers and lock gates.
Sales and Marketing Director Phillip Ellis said the company is experiencing tremendous sales success in the current financial year following trade missions and water industry exhibitions in Dubai and USA.
“We have seen our efforts rewarded with big breakthrough orders into Australia and Germany while our USA business is developing well.
“We have also been fortunate in making inroads into new developing economies like Turkey and Brazil. It means we are spreading our dependencies beyond the more fragile UK and European markets and the current slump in these economies.”
The company’s increased sales also mean they are outsourcing more work to other local companies and currently recruiting.
Business Minister Edwina Hart said the company’s success illustrated the importance of trading internationally.
“Entering new markets and targeting new countries can open up a range of new trading opportunities for companies which is particularly important during these challenging economic conditions. It’s always good to hear of success stories and how Welsh Government support is bringing real benefits to business.”
The company’s increased sales are the result of continued investment in developing innovative new products. Its current best seller – the Porta-Gantry Rapide – was developed in partnership with the University of Cardiff, through the Knowledge Transfer Programme which is managed in Wales by the Welsh Government.
Phillip Ellis said this product was taken to market very quickly with tremendous interest across the sectors and in all areas where safe and rapid deployment of lightweight lifting equipment is required.
It can be assembled in minutes, weighs just 28 kilograms, can be carried and deployed by one person yet is capable of handling weights of up to 500kg.
It is ideally suited for rescue operations and following its launch at a major water industry exhibition in the USA it was selected for the USA Water Industry Operations Challenge – a rescue & retrieval race involving up to 80 water industry teams.
Mr Ellis added that in addition to substantially increased export orders they continue to see positive growth in the UK and look forward to further expansion and a bright future in Chepstow.