CP Hire, the Coleraine-based plant and tool hire business, is being assisted by Invest Northern Ireland to increase its competitiveness and grow sales outside Northern Ireland.
The family-owned and managed company, which employs around 70 people, has received support to strengthen its export sales through Invest NI’s Growth Accelerator Programme (GAP).
CP Hire Managing Director Andrew Hutchinson announcing the company’s export growth plan today said: “We have identified substantial new business opportunities in the Republic of Ireland, where we already have a foothold, for our expert services.
“To maximise the growth opportunity, we sought guidance from Invest NI on how we could increase our capability and accelerate sales in the Republic of Ireland in particular.
“We’ve been helped to strengthen our management team, which will enable me to focus on the strategic development of the business in the Republic. I have identified several new sites to expand our network of depots there, enabling many more companies in construction and related industries access to our services.
“This is an important development for the business and should lead to a significant increase in sales turnover over the next two years,” he added.
Welcoming CP Hire’s strategic growth focus, Des Gartland, Manager of Invest NI’s North West Regional Office, said: “This is an entrepreneurial and innovation based business with significant growth potential in the Republic. It is a growing business that has doubled turnover over the past four years.
“We are providing GAP assistance, which offers flexible and fast response funding, to support the CP Hire Managing Director as he seeks to achieve accelerated growth outside Northern Ireland.
“GAP was developed specifically to offer smaller companies quick access to an agreed level of support that would enable them to increase capability and overall competitiveness in external and export markets.
“This is a key feature of our draft Corporate Plan for 2008-11 which features a strong commitment to help locally-owned companies with export potential to increase their sales in target markets, including the Republic of Ireland, through measures that will increase their capability and add value to their business,” he added.
CP Hire has been in operation for 36 years and has seven depots in Northern Ireland and two in the Republic of Ireland. It supplies an extensive range of plant, machinery and tools especially for the building industry.