Oliver Valvetek, the Cheshire-based manufacturer of high-performance valves used by the world’s biggest energy companies, has been awarded a Queen’s Award for Enterprise in the International Trade category.
More than half of Oliver Valvetek’s revenue comes from exports and the business counts some of the world’s biggest energy companies – including Shell, Petrobras, BP, Petronas and ExxonMobil – among its customers.
In a market in which it can easily be outpriced by foreign manufacturers with lower overheads, the business’ strategy is to compete on quality rather than cost. This, combined with a focus on continual innovation which sees the firm reinvest a significant amount of income on research and development, often in collaboration with clients, has allowed it to build up a global reputation for providing highly tailored, reliable products.
As part of its international strategy the company has also dedicated considerable resource into developing a strong share of emerging markets which look set to dominate the global energy production industry in years to come, such as Brazil, China and Africa.
The Queen’s Award entry singled out Brazil as an emerging market in which the business had achieved phenomenal success.
In 2008 sales in the country stood at just under half a million. By September 2010, Oliver Valves had grown this to more than GBP 1 million.
