Rapid Russian Success For Armagh Firm

There is 'concrete success' on the way for a Co Armagh construction sector firm with news that Rapid International in Tandragee has won business worth around £800,000 in Russia from its participation in an Invest Northern Ireland trade mission to Moscow and St Petersburg.

Rapid International is supplying concrete production machinery to clients in southern Russia for a range of applications including road construction.

The firm is a leading manufacturer of concrete batching plants and concrete mixers, secured the contract as the result of a partnership established with a new machinery dealership in Moscow over a year ago.

The news was welcomed by Invest NI Trade Director Dr Vicky Kell: "This is an important contract which gives Rapid International a solid base for both short and long term growth in one of the world's fastest developing markets, part of the so-called BRIC regions - Brazil, Russia, India and China - which are achieving growth rates well ahead of the US and Europe.

"As a result of our strategic focus on Russia, as well as Brazil, Russia and China, we are now seeing Northern Ireland companies, in particular smaller companies, winning significant business throughout Russia.

"We recognise Russia is not a market that is right for all companies but, for some, it holds considerable opportunities. We can help companies determine if the market is right for them," she said.

"Russia is a vast and dynamic market with immense growth potential especially in terms of infrastructure projects currently underway or planned in both short and long terms.

"Rapid has tapped into this market with its machinery for the construction industry. The significant thing about the contract is that it will see Rapid's machinery being used beyond the traditional centres of Moscow, St Petersburg and Ekaterinburg.

"Immense opportunities are also developing rapidly in other sectors for our companies as a result of a growing Russian middle class which is keen to access western consumer products and technology," she added.

Jarlath Gilmore, Rapid International's Sales and Marketing Director, announced the latest export contract and said: "We are investing time and finance to develop the Russian market because our research shows there are extensive opportunities for our products throughout this vast nation. This has included participation in a major construction industry exhibition and in an Invest NI trade mission.

"Russia is certainly not an easy market to crack. It's also an expensive market in which to operate. Our breakthrough has resulted from taking time to find the right distributor for our products, a company with a strong network of contacts and established business in the construction industry and one that we believed would fit well with us.

"Building on the platform that we've established will require further visits to the market and measures to strengthen the relationship with our distributor," he added.


Related Northern Ireland Business News Stories
Click here for the latest headlines.

27 November 2019
Newry Sweet Producer Wins £250k Contract In China
A sweet production company based in Newry is to begin stocking shops in China after striking a deal worth £250,000. Crillys Sweets is aiming to grow its business in China to around £1 million over the next year with the help of the new contract.
26 February 2020
Jobs Boost As Construction Begins On £2.7m Lisburn Development
Some 50 new roles have been created in construction as work gets underway on a £2.7 million development in Lisburn. The 18 new homes at Thaxton Village are a project of Hagan Homes and include three-bedroom detached, semi-detached homes and townhouses. Starting prices will be at around £120,000 with completion expected by the end of the year.
19 June 2017
Trade Mission To South Africa & Nigeria Announced
Invest NI have announced a Trade Mission to South Africa and Nigeria from 11 – 15 September, 2017. Businesses are invited to join the mission and take advantage of the business opportunities within the region. South Africa and Nigeria are both emerging and import dependent markets offering a multitude of export opportunities for local companies.
22 June 2015
Markets Made Clear.com To Develop New Technology
Belfast based firm Markets Made Clear.com is being assisted by Invest Northern Ireland to develop and market technology for trading in global financial markets.
07 September 2001
Global stock markets take further tumble
Although the Nasdaq recovered slightly in afternoon trading thanks to some good news in the technology sector, a higher than expected rise in the US unemployment rate served to reinforced the current downward trend in global stock markets. Official data from the US Department of Labour shows that in the US unemployment jumped to 4.