Invertek Drives Ltd was shortlisted in the ‘Exporter of the Year’ category at the Made in Wales 2013 Awards last night in recognition of another year of phenomenal growth in export sales.
Established in 1998, Invertek Drives designs and manufactures a range of compact, variable speed drives used to control the speed of electric motors. The independently owned company has grown from a start-up business to a £multi-million international organisation - in the past five years it has trebled its turnover through success in export trade and now sells 95% of its products to more than 80 countries worldwide through a network of international sales partners.
The Made in Wales Awards are organised and hosted by Wales Business Insider and aim to celebrate the best in manufacturing, design and product development across Wales, recognising companies of all sizes.
Invertek was represented by Purchasing Account Executive Richard Moore at the awards ceremony which took place at the Mercure Holland House Hotel in Cardiff. Richard says, “It was a great honour to take part in the awards, along with some of the biggest and best Welsh businesses. Invertek is very proud of its Welshpool heritage and the significant contribution it makes to the local economy.”
Currently 70% of all electricity used is consumed by powering electric motors. One of the factors behind Invertek’s success has been an increase in global legislation aimed at reducing energy consumption in industry – Invertek’s variable speed drives can reduce energy usage by more than 50% in industrial and HVAC applications by exactly matching the speed of the motor with the requirement of the appliance.
Invertek’s Sales and Marketing Director, Rhydian Welson, comments, “Being shortlisted in the Made in Wales Exporter of the Year category is further recognition that our global sales strategy is working. Export trade has played a significant part in the growth of our business from the outset - a lot of the world’s manufacturing base is outside of the UK and our products are used in automation applications around the world. We have always known that we needed to look beyond the UK in order to grow.”
Invertek’s place on the 2013 shortlist was the second time it has been recognised by the Made in Wales Awards following its win in the Technology category in the 2012 awards. Invertek has already secured one national award this year for the energy saving potential of its products; Invertek won the Best International Trade category at the UK Energy Innovation Awards in April and it has also been shortlisted in the SME Innovation Energy Efficiency Technology category at the ENDS Green Economy Awards, due to take place on 21st November.
Rhydian concludes, “The Made in Wales Awards provide a great opportunity to show other Welsh businesses what can be achieved on a global scale as the result of a sound export strategy. We’d like to offer our congratulations to the winning company in the export category, Chromogenex Technologies.”