SA1 firm's CEO to head to Buckingham Palace tomorrow
The CEO of a Swansea Company which is bringing home a prestigious award from Buckingham Palace this week, says businesses in our region are increasing their presence on the global stage.
In the wake of the devastating news about Ford's decision to close their Bridgend plant, Giles Davies, who heads up Cyden in SA1, says many Swansea companies are tackling global market challenges head on.
Cyden, which is based in SA1 produces devices for hair removal using intense pulsed light and now exports to over 30 countries. They have subsidiaries in Tokyo and China, with new partnerships in Thailand and South Korea.
The company has now been awarded the Queens Award for Enterprise and Mr Davies will be going to Buckingham Palace for a reception tomorrow as well as meeting Prince Charles and Prince Andrew.
Mr Davies said that in spite of recent bad news for the local economy, there were in fact a lot of small and medium-sized businesses in our area which had a global presence:
"I think the advantage with small companies is that you can be agile. You can do things very quickly, and while you don't have the profile of a big company, like Ford for instance, it does mean you can do exciting things on a global stage."
Mr Davies said in the last five years Cyden had grown its local workforce from 19 to 120.
"The way markets are moving and route to market are changing, I think there's certainly more opportunities now for small, product-based and consumer product-based companies to develop more quickly to export more and trade more outside of the UK."
But he said they were keeping their focus on the local area:
"We try to do as much as possible in Wales. We've set up our own factory so all our products are designed, developed and manufactured in South Wales."