There’s always more to learn about exporting, even after 100 years!

No matter how many years you’ve been exporting there’s always something new to learn about the markets you’re in or new ones you’d like to conquer says Luton-based engineering company Hayward Tyler, which has been selling its products overseas for 100 years and is starting the next 100 years by looking to expand even further.

Founded exactly 200 years ago, Hayward Tyler designs, manufactures, and services fluid-filled electric motors and pumps for high-pressure, high-temperature applications and environments across the global energy sector. It started looking for markets beyond these shores when it developed the first submersible electric motor in the early 20th century and expanded this further when, mid-last century, it developed the first glandless centrifugal boiler circulation pump. This led to the company

opening a base in Vermont in the 1960s followed 12 years ago by China and then a sales office in India. It now sells 90% of its products overseas, which in the last year alone has helped increase its business from £43 to £48 m, and is now turning its attention to Korea, Brazil and the Middle East. This is helped by the development of a Centre of Excellence (CoE) opening next year that the company says will be the world’s most advanced

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Published July 2016 by UK Trade & Investment

facility for specialist fluid-filled motor manufacture and will allow them to increase capacity by 40%.

“ It now sells 90% of its products overseas, which in the last year alone has helped increase its business from £43 to £48 m.”

“Countries such as China and India are becoming increasingly important as they develop, populations grow and demand for power increases,” says the company’s Commercial Director for Oil and Gas, Geoff Robinson. “Our products support the development of the necessary infrastructure across a range of power generation technologies within these countries. The UK, on the other hand, has a mature power generation fleet so the focus is on delivery of aftermarket service although this will change as Hayward Tyler supports the UK new build nuclear projects planned over the coming decade.”

Whereas the US is a popular country for exports from this region (it comes in at number two after Germany); China (although fast moving up at number eight), India, Korea and the Middle East are less common and often pose more challenges for the exporter, something Hayward Tyler doesn’t take for granted despite having over a century of exporting experience. “UKTI (UK Trade & Investment) have helped us with opening up more opportunities as well as market updates on the countries we’re already exporting to,” says Geoff. Recently this has included attending a trade mission to Korea to generate interest in its oil and gas products as well as the development of an analysis of the Korean market. “Our trade advisor Brian Stammers is an excellent sounding board and might say ‘have you considered this?’ giving us a different perspective on a particular issue.”

Says Brian: “I have been working closely with Hayward Tyler senior management for three years and regard them as an ideal example of how the interactive process between the company and its International Trade Advisor can really work to help

in defining effective international strategies that deliver export growth”

Through UKTI the company has also become more conscious of the importance of understanding local traditions and culture: “this makes us think more carefully about how we are represented in a country,” says Geoff. “By having a permanent employee in the country, for example, we are able to operate in their time zone and language as well as be aware of any underlying cultural currents.” Another concern for those exporting to new markets is whether they will be paid, which is where support from UK Finance Export is beneficial, such as with the Bond Support Scheme with which the government provides partial guarantees to banks in support of UK exports.

“ UKTI have helped us with opening up more opportunities as well as market updates on the countries we’re already exporting to,”

With Bedfordshire businesses being encouraged by the new government campaign ‘Exporting is Great’ to think about selling their products or services overseas what advice is there from this seasoned exporter? “I’d say to anyone thinking of exporting to do their homework first,” says Geoff. “For Korea we gained access to companies and people we wouldn’t have been able to without that degree of support. Keep up regular contact with your trade advisor and be aware of the wider services available. If you’re new to exporting it’s the regulatory and payment mechanisms that are most challenging, so find out what is out there to help, such as a letter of credit guarantee (where a UK bank adds its confirmation to a letter of credit issued by an overseas bank to finance an export from the UK).”

Follow these examples and your company could be celebrating more exporting successes in 100 years’ time.

What next

To find more opportunities in other markets, just visit https://www.exportingisgreat.gov.uk/opportunities/ and use the criteria most relevant to your product or service.

If you have any questions then please do not hesitate to contact your International Trade Advisor. If you are unsure who your advisor is or you would like to be put in touch with one, please contact our customer services team on 01707 398 398 or email EastInfo@mobile.ukti.gov.uk