CorDEX Instruments Ltd is proud to announce that it has won the Queen’s Award for International Trade 2014. The prestigious award was granted due to the phenomenal global expansion of CorDEX since its establishment in 2009. The North East based company develops and manufactures intrinsically safe and explosion-proof devices for use within hazardous environments. They say their success is due to the development of new and innovative products that are in high demand worldwide.
Rapid global expansion
In 2013, 83% of CorDEX’s annual sales were from export. In 2012 and 2011 the figure was at 72%. The company started with distribution across the UK and Europe, but within a year had established its presence in North America and Asia. CorDEX now has a distributor network across Asia (including India and South Korea), North America and Australia, as well as Europe. North America accounts for over 50% of the company’s sales.
Marketing and UKTI
To achieve such rapid overseas development the company undertook targeted marketing campaigns across various locations across the globe. They worked with UKTI to get to grips with overseas territories, and spent time around the world learning different cultural values, and potential routes into the targeted markets.
“Winning the prestigious Queen’s Award for enterprise at such an early stage in the company’s development is a fantastic achievement for CorDEX. This award, specifically for overseas earnings growth, is a reflection of the innovative product range that we have developed and the great relationship we have with our customers.”
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“The Queen’s Award is, of course, for each and every person within the CorDEX business; winning it is a true reflection of their hard work and dedication. Every member of the team contributes to the growth and development of the company on a daily basis, and this is without doubt the major reason for CorDEX’s continued success.” – Craig Bell, Managing Director, CorDEX Instruments Limited