PRLog - April 9, 2014 - COVENTRY, U.K. -- Understanding markets overseas is the key to exporting successfully around the world, according to Ultraseal International, 2014 Midlands Exporter of the Year.
Midlands Exporter of the Year - Ultraseal's MD Gary Lloyd picks up award
With hard work, dedication and a flexible outlook, UK manufacturers can succeed in the global marketplace, said the company's Managing Director Gary Lloyd.
Globalisation has brought many challenges to Coventry-based Ultraseal International, a company whose customers are mainly in the automotive supply chain.
While the company has always exported its products - Vacuum Impregnation equipment and porosity sealants that together solve the problem of porosity in cast metal parts - one of its main markets was originally the UK.
However, as its customers relocated overseas, Ultraseal has had to adapt: today exports account for more than 95% of its business and it has a truly global reach, with joint ventures in China and India, operations in the United States and Germany, an office in Japan and a network of 22 agents/distributors worldwide.
During UKTI's Export Week Mr Lloyd said: "Chasing customers around the world can seem daunting but it is well worth the effort: there are good rewards to be reaped.
"The marketplace is global now - you cannot wish that reality away - but I believe that UK manufacturers can still lead the world with their inventiveness and engineering excellence.
"International businesses are tought to manage - there are the inherent complications of cultures and language - but overall our growth on a global basis demonstrates what can be achieved.
"When exploring new markets we have been helped by UKTI whose officials offer insights into the countries where they are based - it's a good starting point for any UK company wanting to export."
He welcomed Chancellor of the Exchequer George Osborne's move to boost tax allowances for businesses investing in their future and also to offer exporters access to a greater level of Government loans to support their activities abroad.
Mr Lloyd, who recently celebrated his company winning Exporter of the Year category in the Midlands Business Awards, said: "I am proud to be a successful UK exporter and it is good that the Chancellor acknowledges the contribution that UK exporters make to the future prosperity of UK Plc."
To visit Ultraseal's website see www.ultraseal.co.uk