By Daniel Hunter
A global road preservation and maintenance firm from Buckinghamshire is celebrating after signing a new overseas contract worth a potential £5m at the British Embassy in Madrid, thanks to help from UK Trade & Investment (UKTI) South East.
ASI Solutions, based in Milton Keynes, provides products for the preservation, repair and recycling of asphalt, macadam and bituminous products (roads, car parks and airfields), and currently trades in Europe (UK, Germany, Italy, Malta and Cyprus) as well as India, China, the Middle East and North America.
Looking to break into the Spanish market, the company enlisted UKTI’s Overseas Market Introduction Service to segment the market and identify potential for both customers and partners. Having raised its profile within the Spanish market, ASI was contacted by Composan, a long-established player in the Spanish highways market, and a partnership was agreed for the company to not only become a distributor, but also a manufacturer of ASI’s Rhinophalt product. Rhinophalt protects against road surface deterioration caused by climactic factors and heavy use.
“Spain has been on our radar for a number of years because of the large-scale investment in its toll road network, which now needs to be maintained, and the support I’ve had from UKTI to get this moving has been critical to our latest success," Jerry Tonge, Managing Director of ASI Solutions, said.
“We have been looking to establish a second manufacturing capability for some time, so to find a company that will distribute and manufacture our product is fantastic. Our partnership with Composan will double capacity and give us the ability to produce up to £10m worth of Rhinophalt annually, in addition to a potential of £1.5m in distribution revenues, which is tremendous.”
Fiona Jefferson, UKTI International Trade Adviser, said it had been a pleasure to see the company grow and achieve success in Europe.
“Through UKTI’s Passport to Export programme and Gateway to Global Growth service I have worked with Jerry since 2008, helping ASI Solutions build on its success and start to develop new overseas markets in China and Latin America, as well as Spain," she said.
“Overseas contracts currently account for 69 per cent of ASI’s turnover, but this new partnership means that it has the potential for this to increase to around 90 per cent over the next three years alone, and on a larger revenue base, thanks to Composan’s networks and partners which is great news for the business.”
Giving advice to other SME’s, Jerry added that you can't underestimate the impact of working with UKTI.
“If other small to medium businesses are considering exporting I would definitely encourage them to seek UKTI support. It provides a low-risk and low-cost way of accessing detailed, specific market information, and their teams in the UK and abroad have the right contacts to help you get your foot in the door,” he added.
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