Exports and innovation drive manufacturer’s growth
INTERNATIONAL sales and innovation are driving growth at a North West manufacturer, which has reported a jump in turnover ahead of a move to a £1m new base this summer.
ChargePoint Technology, which supplies precision containment valves to some of the world’s largest pharmaceutical and chemicals businesses, said sales in 2015 rose 9% to £8.3m driven by demand for its products from customers in the US, Europe and Asia.
In addition the launch of a patented new valve system, called AseptiSafe, which has taken the company into the biopharma market, has also helped too.
Managing director Chris Eccles said: “We are delighted with reaction to AseptiSafe so far and have achieved significant new revenues since launch. It is a case of walking before we run, but the fact is we have a game-changer in our marketplace. Overall, we have achieved 77% sales growth across the last four years and AseptiSafe has certainly raised our own expectations for what can deliver in the next four years.”
During 2015, China was a particular focus for the company.
Eccles explains: “Pharma companies there are looking to export into the West. They have to adapt and meet our standards and regulatory requirements and so are turning to proven Western tech like ours. There’s a great deal of activity upgrading manufacturing facilities, which has been great for us.”
ChargePoint has 62 staff globally. Eccles feels the strong sales growth is a result of the investments the business made in key personnel in 2014. “It can take 18 months to two years for the training and development and knowledge of the marketplace to pay off. That’s happening now and translating into new business.”
In June, ChargePoint is moving to a new production facility in Speke, adjacent to its exiting site. The 27,000sqft plant is being fitted out with more £750,000 of new machinery and other investments in plant and facilities that take investment in the new suite to over £1m.
Invest Liverpool, the Mayor of Liverpool’s inward investment agency, has worked closely with Chargepoint to support its growth plans. The company is also backed by Enterprise Ventures.
