Member Article

Houghton's USA contract win casts light through the gloom

While the falling strength of the pound against other worldwide currencies might not be good news for many, it is helping at least one North East manufacturer land a series of export orders.

Houghton International’s recent USA win is a $40,000 order for the company’s high voltage coils that will repair a power station generator in Pennsylvania. It is significant, however, because it is the firm’s first contract win from the USA since 2001, due mainly to the pound weakening against the dollar.

The company’s managing director, Michael Mitten, said the slide of the pound was “like a breath of fresh air” for exporters.

This year Houghton have won orders from the Greek market after being in the exporting wilderness in that country since 2003 because of the pound’s strength against the Euro.

Michael Mitten said: “This is a major victory for us which has been a long time coming. My team have been working tirelessly to achieve quality and service levels never before seen in our industry. The pound dropping against the other major currencies has been the catalyst we needed to turn genuine prospects into firm orders.

“Although overseas business development can be costly, I’d urge any company out there with a product or service that can be sold overseas to get into new markets and seek opportunity. We’ve received great support from UKTI in the past so get in touch with your local trade advisor and put a plan in place. The North East has a strong exporting heritage so more successes like this will provide much needed strength to the weakening economy. These could be great times for exporters.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .