RTU Limited is targeting £1.5 million worth of sales in the Republic of Ireland construction market following an investment supported by Invest Northern Ireland.
The Newtownabbey-based firm produces high quality mortar, concrete, plaster and screed for the construction industry. However, as a result of the downturn, market opportunities for these building products are becoming highly competitive.
RTU’s £255,000 investment involved securing a distribution partnership with the well known German company Knauf. The firm helped RTU to produce and sell an innovative eco-friendly liquid floor screed product called Ultraflo in NI and RoI markets.
Invest NI offered RTU over £49,912 to help the firm implement a market development plan and employ a business development manager to launch the product and build market share. Sales of the innovative liquid floor screed product now account for almost a quarter of all business activity, with export sales to RoI accounting for nearly 15 per cent of turnover.
Gren Armstrong, Manager of Invest NI’s North Eastern Regional Office, commented: “This investment was a tactical decision by a first time exporter, which was designed to boost its competitive advantage and secure new business. RTU has achieved significant success to date and is progressing well towards securing sales of £1.5 million in RoI.”
Daniel McIlroy, Director of RTU Limited, commented: “During a challenging time for the construction industry, we identified the opportunity to begin exporting in order to sustain the business.
“The concept of floor screeding had been used in Europe and mainland UK for 20 years and we recognised there was an opportunity for a readymix form. Invest NI’s support was crucial in securing the agreement with Knauf and will support us as we develop a market and generate sales for their product in RoI.
“We will use the experience gained to drive new export opportunities across our product range and are focused on further increasing sales, maintaining profits and securing jobs at the factory.”