We are delighted to announce that Invertek Drives, a world leader in the design and manufacture of variable frequency drives to control electric motors, has been named Powys Business of the Year.
Invertek Drives collected the coveted accolade together with the Award for Development of New Markets in the UK or Export, sponsored by Mid Wales Manufacturing Group, at the annual Powys Business Awards dinner at Hafren, Newtown on Friday.
The awards were collected by the company’s international sales manager Wayne Morris who said: “We are absolutely thrilled because these are very prestigious awards. To win the Powys Business of the Year is an honour of the highest order.
“Invertek Drives has grown from a very small endeavour to become one of the world’s leading manufacturers of variable frequency drives. The technology that we produce in Welshpool is up there with the very best in the world and it’s critical that we continue to invest in our people and research and development as we have the Chinese nipping at our heels.
“We are striving to develop the markets in Asia and North America to allow us to continue growing as we have done in the last five years. We employ top quality people from the surrounding area and are now reaping the rewards of the time, money and effort that we have invested to make them the best that they can be.”
The independently owned company, established in 1998, employs 190 people worldwide, including more than 150 at its Welshpool headquarters and has doubled its turnover to £22 million in the last five years.
Its variable speed drives, which can halve energy consumption, are used to control the speed of electric motors in a wide variety of industrial automation and energy saving applications.
More than 90 per cent of the products made in Welshpool are currently exported to 80 countries worldwide and the business has subsidiary companies in Germany and Poland and trading operations in Malaysia and Indonesia.
“Invertek Drives has ambitious growth targets backed by a clear global sales and marketing strategy,” said Rhydian Welson, sales and marketing director. “The success of increasing global awareness of the Invertek brand is best judged by the fact that some of the world’s largest automation companies are now directly working with us.
“Innovation is a key driver of Invertek’s success to date. The company has recently opened additional production and logistics facilities in Welshpool to ensure it is able to meet growing global demand for its products.
“It is estimated that Invertek Drives contributes more than £5m per annum to the local economy through employment, welcoming visitors to the area and supporting local organisations and causes.
“Invertek is regularly cited as an example of a thriving high-tech company based in Powys and it is extremely proud of both its heritage and the contribution it is able to make to the local community and the wider region.”
The award judges said: “This is a company that has not been afraid to invest heavily in personnel and research and development and to push the technological boundaries that drives its business to further its ambitions for profitable growth.
“It is a company that clearly has its strategic eye on the wider opportunities and has all the hallmarks of a successful local business.”
The other finalists in the Development of New Markets in the UK or Export category were Sharp Clinical Services, Crickhowell and Plant i Ltd, Machynlleth.
Picture captions l-r:
Top right: Invertek Drives Ltd’s international sales manager Wayne Morris and his wife Sandra receive the award for Powys Business of the Year from Powys County Council chairman Cllr Paul Ashton and portfolio holder for regeneration and planning Cllr Avril York watched by judge Bob Millard.
Bottom left: Wayne Morris receives the award for Development of New Markets in the UK or Export from Hannah Barratt and John Brunt from Mid Wales Manufacturing Group.
