Coventry-based T A Savery & Co, has grown its turnover from £14m in 2011 to £27m today, with 80% of its products being manufactured in the UK and exported overseas.
This was welcome news for the company, which is preparing for further expansion into India with the construction of a new factory and the launch of a new range of rail products for international markets.
To mark the occasion, the firm, which trades as energy absorption specialist Oleo International and hydraulics solutions provider Savery Hydraulics, hosted its second ministerial visit in the past 12 months.
Craig Tracey, Conservative MP for North Warwickshire & Bedworth met senior leaders from the business to understand how T A Savery has engineered a successful export strategy, with a strong market presence in countries; including China, Germany, the US, and more recently, India.
During the visit, Tracey learned about the business’ ambitious plans for its new factory in India, which is due to be opened in early 2017, and which will focus on manufacturing buffers for the elevator market as the nation continues to be an emerging market for skyscraper construction.
The event was the second Ministerial visit the company has received since winning a Queen’s Award for International Trade two years ago, an event which fast made T A Savery an internationally recognised export success story. As Secretary of State for BIS Dr Vince Cable visited the company’s China plant at the end of 2015 and enjoyed a factory tour of the Coventry plant last month.
Tracey, who is campaigning to build a stronger local economy for his constituency, hailed T A Savery as a Midlands manufacturing business helping to spearhead the local economy, and providing job security for local families. He stated that the export market offers real opportunities for Midlands businesses and urged local firms to explore international markets.
“While exporting may not be a viable option for every business, there is a real scope for local companies to develop and build relationships both across Europe and internationally,” he said.
“In many cases, there has never been a better opportunity for manufacturing businesses to trade with the rest of the world with the amount of success that T A Savery enjoys.”
T A Savery is a business that is helping to drive the UK’s manufacturing fortunes at a time when rising export levels are proving a vital factor in keeping the industry competitive in the global market.
Both Oleo International and Savery Hydraulics have been exporting products overseas since the early 1900s, with 95% of Oleo’s product range being manufactured in the UK and exported overseas. Latest reports from KPMG show that manufacturing exports continued to grow throughout July 2016.