EA Technology eyes Southeast Asia growth
Chester-headquartered energy technology developer EA Technology is set to further extend its international reach with the launch of a new company in Singapore.
Chief executive Robert Davis told Insider the business generated 40 per cent of its sales overseas last year, but he expects this will grow to more than 80 per cent over the next five years.
The company, which is based at Capenhurst Technology Park, develops products used to prevent failures and measure the condition of substation equipment used by power companies.
Its UltraTEV range of products won a Queen’s Award for Innovation last month – the company's second in the past four years.
Davis said the Singapore launch follows office openings in Australia, US, Abu Dhabi and China. EA opened offices in Florida and Oregon last year after acquiring US power engineering services company No-Outage Electrical.
"In the past six or seven years we've really looked internationally and put a great deal of investment and emphasis opening up new markets," said Davis.
"The Southeast Asian sub-region is home to 600 million people so it's a great opportunity to expand into that area. From Singapore we'll also be able to serve Malaysia which is really investing heavily to get into the top league of new technology."
Davis said EA was in the process of appointing a managing director to lead the new business and would be looking to take on "a couple of dozen" employees over the next three to four years.
He added: "Singapore Power is one of the leading electricity companies in the world and the business has been buying our equipment for decades. Through that existing relationship, we've got access to great contacts over there and a number of potential customers."
EA Technology reported sales of £14m in the 12 months to 31 March 2010 and Davis said this increased to £18m in its last financial year. He expects this to increase 20 per cent in the current financial year.
"It's an exciting time," he said. "We reinvest about 15 per cent of our turnover in innovation, either through research and development or looking into new channels to market.
"We’re a company that has new product ideas everyday and, although we have to be selective about them, when we decide to invest we invest hard and aggressively promote them across the world."
Originally founded as the Electricity Council Research Centre, the company was privatised and rebranded as EA Technology in 1991 before undergoing a management buyout six years later.
Chester-headquartered energy technology developer EA Technology is set to further extend its international reach with the launch of a new company in Singapore.
Chief executive Robert Davis told Insider the business generated 40 per cent of its sales overseas last year, but he expects this will grow to more than 80 per cent over the next five years.The company, which is based at Capenhurst Technology Park, develops products used to prevent failures and measure the condition of substation equipment used by power companies.
Its UltraTEV range of products won a Queen’s Award for Innovation last month – the company's second in the past four years.Davis said the Singapore launch follows office openings in Australia, US, Abu Dhabi and China.
EA opened offices in Florida and Oregon last year after acquiring US power engineering services company No-Outage Electrical.
"In the past six or seven years we've really looked internationally and put a great deal of investment and emphasis opening up new markets," said Davis.
"The Southeast Asian sub-region is home to 600 million people so it's a great opportunity to expand into that area. From Singapore we'll also be able to serve Malaysia which is really investing heavily to get into the top league of new technology."
Davis said EA was in the process of appointing a managing director to lead the new business and would be looking to take on "a couple of dozen" employees over the next three to four years.
He added:
"Singapore Power is one of the leading electricity companies in the world and the business has been buying our equipment for decades. Through that existing relationship, we've got access to great contacts over there and a number of potential customers."
EA Technology reported sales of £14m in the 12 months to 31 March 2010 and Davis said this increased to £18m in its last financial year.
He expects this to increase 20 per cent in the current financial year.
"It's an exciting time," he said.
"We reinvest about 15 per cent of our turnover in innovation, either through research and development or looking into new channels to market.
"We’re a company that has new product ideas everyday and, although we have to be selective about them, when we decide to invest we invest hard and aggressively promote them across the world.
"Originally founded as the Electricity Council Research Centre, the company was privatised and rebranded as EA Technology in 1991 before undergoing a management buyout six years later.
‹
Back
The Capital, 39 Old Hall Street, Liverpool
L3 9PP
Telephone: +44(0)151 600 2900
Email:
info@liverpoolvision.co.uk