Treasury Minister visits successful Manchester export business
'EDM is a great example of a company driving the local economy in the North West', Priti Patel explains.
Exchequer Secretary to the Treasury Priti Patel visited Manchester today (Monday 2 February) to hail the success of a local business that has broken into the international export market.
EDM manufactures training equipment and simulators for the commercial aviation industry and the military. Last week, the company delivered and installed its first A350 door trainer at Cathay Pacific’s cabin crew training centre in Hong Kong.
Since 2012 EDM’s export business has increased by 53% and the company now makes products for America, Oman, Saudi Arabia, China, Hong Kong, and Japan, as well as many countries within Europe.
Its recent success in exports has meant the company has been able to expand its workforce by 50%, from 100 to 150 employees in the last 18 months.
The company’s rapid growth is in part thanks to the government’s research and development tax credit scheme, which has helped it develop world class products, such as the A350 door trainer, as well as the military “G-cueing seat”, a replica pilot seat that simulates the movement of an aircraft.
Exchequer Secretary to the Treasury, Priti Patel, said:
It’s fantastic to be here today to celebrate the success of a company that has broken into the international export arena, and, as a result, has been able to expand to provide more jobs for local people.
EDM is a great example of a company driving the local economy in the North West and helping to create a northern powerhouse of jobs, investment, prosperity and bright futures, that is the objective of our long term economic plan for the North West.
Mick Bonney, Director of Sales & Business Development at EDM said:
As an engineering business 10-15 years ago we saw a decline in UK engineering and realised that in order to survive it was exports that were going to allow us to do that. We have been steadily growing our international business and in 2014 our exports equated to 88% of the company’s annual turnover.
Our exposure to overseas customers and their demanding requirements has led to significant product development and innovation.
For example working on the development programme for the F-35 has driven the sophistication and development of our training solutions in both commercial aviation and defence sectors.
Last month, the Chancellor set out the government’s six-point long-term economic plan for the North West, which aims to generate an £18 billion real terms increase in the size of the North West economy by 2030 and ensure over 100,000 more people in employment in the North West during the next Parliament.