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Opportunities in America
29-06-2010
Opportunities in America
Throughout the recent recession many companies have struggled to compete due to the extreme pressures on consumer spending and manufacturer slow down. However, Hughes has continued to grow from strength to strength through international growth, acquisitions and new product development. This success has been highlighted in a recent article by Crain’s newspaper which provides positive advertisement for the company.
During the recent interview with Crain’s, Stephen Dootson expressed further developments for Hughes Safety Showers. A partnership with UK Trade and Investment is progressing in order to increase US sales and capitalise on the believed £50 million market. “We would look to be taking 10 per cent market share within three to five years”, expressed Dootson. This is in conjuncture with the relatively new release of the Hughes Articulated Rapid Design (HARD) shelter that can be used for several purposes and is understood to have an impact within America. Furthermore, the company have proposed a bid for another UK competitor, which could potentially add £500,000 to their turnover. Although this is a deal that is still in the pipeline, it highlights the continuing improvement from the Bredbury-based company who are expected to top sales of £10m in 2010.
Hughes are clearly progressing and looking to establish the company brand within the American health and safety market. With the USA importing $57 bn of UK goods in 2007 there are clearly opportunities for exporting companies. Hughes is certainly taking advantage of this by developing an office in Houston to target the oil and petrochemicals industry.