Orders for Torque Tension Systems Ltd are now increasing at such a rate that the company is set to move to larger premises earlier than anticipated and take on extra staff to meet demand. An additional three workshop and administration staff have joined the company in the past two months.
A world leader in the manufacture of hydraulic bolting products, the Ashington company specialise in supplies for the oil and gas industry and signed up to the VEM initiative having already benefited from the support offered through UK Trade & Investment's Passport to Export Programme.
Through VEM, the company was teamed up with Barry Bellenie, who has more than 25 years experience in establishing UK companies in Asia and he put his extensive knowledge of export markets to the test. The company's objective was to obtain market potential and identify quality, working partners in several countries.
John Wilkinson, Sales Director at Torque Tensions Systems Ltd, said:
"Through VEM and with Barry's help we've been able to identify a list of potential trading partners in the Far East. We're now building up relationships with a number of contacts and already new export orders are coming in.
"I spent several weeks in the Far East following up on leads with various companies and generating new business leads. We're really pleased with the way things are developing and are very optimistic about the future.
"The business is doing so well we're looking to move into larger premises 12 months earlier than originally planned and take on extra staff to meet demand."
Barry Bellenie added:
"Our original aim was to establish routes of entry into several Far East countries and to identify potential trading partners and distributors. I was able to visit the markets on several occasions to meet potential customers on their behalf and then put together a comprehensive report on who the key players were.
"From there we've worked together to turn this initial research into orders and the progress made by the company has been very good, with some substantial orders from customers in these new markets."
Stephen Muir, UK Trade & Investment's VEM programme manager, said:
"Since its launch in 2005, VEM has helped 53 companies across the region. The feedback we've received has been very positive and we're keen to ensure more companies can take advantage of this service.
"Our aim is to ensure we match companies with a suitably experienced 'virtual export manager', with a working knowledge of the sector the company operates in and with a proven track record in export markets.
"Torque Tension Systems not only benefited from the support of VEM but also worked with Joyce Rawlings, one of UK Trade & Investment's International Trade Advisers who was able to advise on international trade issues generally and the range of services offered by UK Trade & Investment to help the company. She also helped the company access the Passport to Export programme.
"Torque Tension Systems is a great example of how VEM and other initiatives run by UK Trade & Investment can help a company achieve its export ambitions and we would encourage others, whether new or experience exporters, to get in touch to find out how we can help them."
The VEM programme is part-funded by the European Regional Development Programme and targets small and medium-sized companies (SMEs) which can take advantage of up to 30 days support over a six month period, although this is flexible and tailored to suit the company concerned.
The cost of the scheme, £250 per day, is subsidised by 50 per cent and can be combined as part of an overall export strategy developed with the support of a designated International Trade Adviser assigned through UK Trade & Investment.
For more information about the VEM programme and the range of support services available through UK Trade & Investment to help your company succeed overseas call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk.
