An investment in research has paid dividends for FSP as we develop new export markets ahead of Britain’s departure from Europe.
We have already secured a new deal in Israel and are awaiting product approval for a £250,000 contract in the Middle East off the back of its strategy to target new non-EU customers.
Our investigation into new overseas markets was triggered as part of our bid to increase export by around 10 per cent. We worked with the Department for International Trade to identify geographical areas to focus on, liaised with the British Embassy in the relevant countries to make further in-roads and conducted overseas trade missions to develop relationships with potential customers.
Exports already account for 10 per cent of our annual turnover but the new leads will ensure that FSP’s export business still has opportunities for growth, said Managing Director Richard Hilton.
He said: “This has been a deliberate pro-active strategy to make sure that overseas trade remains a significant portion of our business and can grow, regardless of our future position within Europe.
“We still anticipate doing business with EU countries where we have a good reputation and established contacts and suppliers. But the uncertainty over the shape of Britain’s future trade relationships gave additional weight to our decision to explore new markets.
“We have supplied products outside of the EU before but this has been a targeted programme to future proof FSP and safeguard our international trade. One contract – a special multiple FAB TOP designed to a D400 En124 loading – has already been completed for a client in Israel – with others in advanced stages.”
Our ability to offer bespoke products alongside its stock range of fabricated steel access covers and associated drainage products with rapid turnaround times has established its reputation as one of the UK’s foremost manufacturers of its type.
Ranges includes FAB TOP™, FAB PAVE™ and FAB TRAY™ access covers that provide access to below ground services with hard landscaping, security and water management products among the most popular products.