UK news: October 2008
Invertek targets €50m of sales by 2012
The Welsh drives-maker Invertek has opened a 1,800m2 extension that cost £1.8m to build. The company, which currently employs 70 people, plans to take on another 50 staff over the next three years, and is aiming for a turnover of €50m by 2012.
The Welsh First Minister Rhodri Morgan recently visited Invertek’s Welshpool site. He said that the extension was proof that the company is investing in high technology and customer support. “That is the right way to build up a niche market and resist the overall effects of the economic downturn,” he added. The photo (above) shows Morgan (left) with Rhydian Welson, Invertek`s sales and marketing director, Glyn Jones, its technical director, and David Jones, r&d director.
Invertek has achieved a 28% year-on-year increase in sales of its Optidrive E2 and IP55 products, and its compact drive for the OEM market is now entering production. The company is also launching a new version of its Optidrive Plus range.
Invertek is introducing a rotating two-shift system which will boost its manufacturing capacity to more than 100,000 drives a year. It is also planning another phase of expansion to provide a new European logistics centre.
According to Invertek’s operations director, Charles Haspel, the company, has been achieving 25% year-on-year growth since it was founded in 1998. Although more than 95% of its production is exported, Invertek plans to stay in Wales.
“The UK will remain at the heart of an ambitious global growth plan that has already seen Invertek establish subsidiaries in Spain, the Czech Republic, Singapore and China,” he says.