Economy Minister Vaughan Gething has visited a successful Welsh exporter to see first-hand the challenges and opportunities facing the business following the coronavirus pandemic, and encouraged more Welsh companies to capitalise on Welsh Government support to export their goods and services internationally.
Gwent-based Industrial Automation and Control Ltd (IAC) was established in 1989 and is one of the leading industrial control systems integrators in the UK. It has a particular expertise in the manufacture of variable speed drive systems, with its products used by many of the world’s leading electrical brands.
IAC, which employs over 65 people at a modern facility in Newport and another 30 in a number of destinations around the world, currently has export orders currently has export orders in excess of £3 million. Exporting has contributed around 50 per cent of the company’s turnover since 2000.
Welsh Government support has helped IAC win new export business in both new and existing overseas markets. It has attended Welsh Government trade missions to Canada, the UAE, and South Africa and received grant support to undertake an independent business development visit to China.
The visit comes after the Minister announced the Welsh Government will invest over £4 million over the next year to support Welsh businesses find new export opportunities in global markets, and help deliver the commitments set out in the Export Action Plan for Wales.
IAC also operates a successful four-year apprenticeship programme, and the Minister met with a number of current IAC apprentices during a tour of the manufacturing facility. The business’ first apprentice joined more than 25 years ago and still works for IAC today.
Economy Minister Vaughan Gething said:
“Encouraging the growth of Welsh exports is a key Programme for Government commitment.
“The comprehensive and far reaching programme of export support we recently announced will help companies such as IAC to create new jobs and apprenticeships here in Newport and the surrounding area.
“Exporting is a key part of IAC’s businesses and I’m delighted that Welsh Government support has helped them explore new markets and secure new export business over the years.
“I encourage more businesses to make use of the support on offer from Welsh Government to start exporting the many unique and cutting edge products and services we offer her in Wales internationally.
“This period in our history will undoubtedly be one of the most challenging for our businesses and workers, but it also offers rich new opportunities to diversify and deliver more sustainable business models.
IAC Managing Director Peter Lewis added:
“It was great to meet a minister who is passionate about the same things as IAC.
“For us, training apprentices and trading internationally are absolutely fundamental to the growth of our business and the support we’ve received from Welsh Government in exploring new overseas markets has helped us achieve our export ambitions and continues to do so.