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18/03/2011
Concrete Firm Targets Republic For Exports
Around £1.5 million worth of sales are being targeted in the Republic of Ireland construction market by a Newtownabbey-based firm that produces high quality mortar, concrete, plaster and screed.
RTU Limited's move follows an investment supported by Invest Northern Ireland which aims to exploit what has become a highly competitive market following the economic downturn.
RTU's £255,000 investment involved securing a distribution partnership with the well-known German company Knauf.
The firm then helped RTU to produce and sell an innovative eco-friendly liquid floor screed product called Ultraflo in Northern Ireland and Republic of Ireland markets.
Invest NI offered RTU over £49,912 to help the firm implement a market development plan and employ a business development manager to launch the product and build market share.
Sales of the innovative liquid floor screed product now account for almost a quarter of all business activity, with export sales to Republic of Ireland accounting for nearly 15% of turnover.
Manager of Invest NI's North Eastern Regional Office, Gren Armstrong, commented: "This investment was a tactical decision by a first time exporter, which was designed to boost its competitive advantage and secure new business.
"RTU has achieved significant success to date and is progressing well towards securing sales of £1.5 million in Republic of Ireland."
Director of RTU Limited, Daniel McIlroy, commented: "During a challenging time for the construction industry, we identified the opportunity to begin exporting in order to sustain the business.
"The concept of floor screeding had been used in Europe and mainland UK for 20 years and we recognised there was an opportunity for a readymix form.
"Invest NI's support was crucial in securing the agreement with Knauf and will support us as we develop a market and generate sales for their product in the Republic of Ireland.
"We will use the experience gained to drive new export opportunities across our product range and are focused on further increasing sales, maintaining profits and securing jobs at the factory," he said.
(JG/KMcA)
RTU Limited's move follows an investment supported by Invest Northern Ireland which aims to exploit what has become a highly competitive market following the economic downturn.
RTU's £255,000 investment involved securing a distribution partnership with the well-known German company Knauf.
The firm then helped RTU to produce and sell an innovative eco-friendly liquid floor screed product called Ultraflo in Northern Ireland and Republic of Ireland markets.
Invest NI offered RTU over £49,912 to help the firm implement a market development plan and employ a business development manager to launch the product and build market share.
Sales of the innovative liquid floor screed product now account for almost a quarter of all business activity, with export sales to Republic of Ireland accounting for nearly 15% of turnover.
Manager of Invest NI's North Eastern Regional Office, Gren Armstrong, commented: "This investment was a tactical decision by a first time exporter, which was designed to boost its competitive advantage and secure new business.
"RTU has achieved significant success to date and is progressing well towards securing sales of £1.5 million in Republic of Ireland."
Director of RTU Limited, Daniel McIlroy, commented: "During a challenging time for the construction industry, we identified the opportunity to begin exporting in order to sustain the business.
"The concept of floor screeding had been used in Europe and mainland UK for 20 years and we recognised there was an opportunity for a readymix form.
"Invest NI's support was crucial in securing the agreement with Knauf and will support us as we develop a market and generate sales for their product in the Republic of Ireland.
"We will use the experience gained to drive new export opportunities across our product range and are focused on further increasing sales, maintaining profits and securing jobs at the factory," he said.
(JG/KMcA)
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