Judges praise power supply systems’ manufacturer’s 360-degree approach to growing international markets
ASEA Power Systems has been named the winner of the 2019 IBI Export Excellence Award. The trophy was presented by IBI editorial director Ed Slack at yesterday’s Industry Breakfast that traditionally raises the curtain on the International Boatbuilders’ Exhibition and Conference (IBEX) that began its three day run yesterday in Tampa, Florida.
In praising Asea Power Systems’ commitment to growing overseas markets – its export reach has grown to 41 countries worldwide, generating 65% of its annual revenues within a mere three years – IBI’s Ed Slack commented: “ASEA Power Systems could have written the playbook when it comes to developing a successful export strategy. Identifying the problem of ageing marina infrastructure around European islands, this manufacturer of power conversion equipment, spotted an opportunity. With electrical needs onboard ever increasing, and microgrids struggling to cope, ASEA took to developing specific new products to spearhead its growth into new markets.”
The judges were particularly impressed with ASEA’s 360-degree approach that testifies to the fact that growing exports is not just about building distributor networks, but about developing a thorough understanding of individual market needs.
ASEA’s sales manager for the America, Joseph McCartney, accepted the crystal trophy recognising the firm’s success, as well as an advertising prize package worth in excess of US$10,000 in IBI magazine.
Along with ASEA, the award judges also felt Dr Shrink’s modification of its shrink wrap covers and ventilation systems to boost sales in the Middle East was worthy of a highlight. Bellingham Marine’s ‘Bellingham Marine in a Box’ concept that allows it to set up in country with a mobile set of tools, forms and key personnel to design and construct larger one-off projects was also deemed noteworthy, as was Bob’s Machine’s leveraging of various enterprise grants to maximise its show presence around the world, helping build both its customer and distributor base.
The IBI Export Excellence Award is now in its second year and was conceived to recognise US businesses that have a long-term strategy and shown unrivalled commitment, both financially and on the ground, to growing their international business.