Minister hails Royston firm

PUBLISHED: 12:54 31 August 2010

Vince Cable, Secretary of State for Business, Innovation and Skills

Vince Cable, Secretary of State for Business, Innovation and Skills

Archant

A frontbench politician has heaped praise upon a Royston-based company.

A frontbench politician has heaped praise upon a Royston-based company.

Secretary of State for Business Vince Cable paid tribute to Syrris for the progress they have made in their exporting to Brazil.

The company, which specialises in manufacturing and designing products for chemists, identified Brazil as a potential good source for and has had success in their dealing with the nation ever since.

Vince Cable said: “It is clear to me that there is great untapped potential in our business relationship (with Brazil). Syrris, in Royston, is one of the companies that is showing the way.

Syrris have established a base and appointed staff in Brazil and have made sales of around £250,000 since they started dealing there just over a year ago.

Nick Tait, Chief Financial Officer at Syrris, said: “We were keen to establish ourselves in a growing market where there were real opportunities for our automated chemistry products.

“We decided to focus on Brazil because we wanted to establish a bigger footprint in Latin America, where research and development is becoming an increasingly important industry.

“We have been singled out primarily by Mr Cable because we have always been exporters and have always been very committed to it.”

Mr Tait revealed the reason for establishing themselves in Brazil was due to the possibilities the market has, and that they are planning on expanding in the future.

“Latin America is a region that we have only recently moved into. We started exporting to The USA and Western Europe back in 2004 and as time has moved on we have seen the potential in developing markets such as India and China.

Brazil has an awful lot of untapped potential and we felt in 2010 that we needed to make the move to establish a subsidiary office in Sao Paolo.

“We are hoping to add Mexico and Chile to the near future as well.”

The comments from Mr Cable come as he prepares to form closer ties between the UK and Brazil, which is tipped to become the world’s fourth largest economy by 2050.

He will be visiting Brazil this week in a similar trip to that made by David Cameron to India in July.

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