Innovation in action
24 September 2013
REID Lifting has won the prestigious Queen's Award for Enterprise in Innovation 2013, for an innovative product created as a resultof a Knowledge Transfer Partnership with Cardiff University.
The product is the latest addition in the Chepstow-based company's best-selling product range, the Porta-Gantry Rapide, and is part of a major breakthrough in exporting of lightweight, portable lifting systems, which now account for 55% of total sales.
The KTP with Cardiff's School of Engineering facilitated the provision of academic knowledge to help design the product, whilst also developing the existing design skills within the company. Additionally, the collaborative project has led to the recruitment of staff and outsourcing of work to local business.
Nick Battersby, company MD, commented: "The KTP with Cardiff has been a great success for us as we have had access to academic expertise, excellent test facilities, young engineering talent and most importantly developed a strong relationship with the University. The key outcomes for the company have been improved design capability, a highly innovative new product and a high-calibre new recruit with great potential."
REID also won the Queen's Award for Enterprise in International Trade 2013. A first time International Trade Queen's Award winner, the company has increased overseas sales by 75% over the last three years, with European sales accounting for 66% of its export turnover, and two-thirds of that into France with exciting recent growth in USA and Australia.
Paul Thomas, Business Manager at Cardiff University said: "The KTP with REID Lifting has delivered significant success for both the company and the University. We are delighted to be a part of this ongoing innovative relationship, with a second KTP project with REID now underway. Our focus is to continue to develop such long term working relationships with industry, for large and small companies alike and help ensure mutual project goals are met and exceeded."
The University has an impressive portfolio of KTPs and is currently ranked 4th in the Russell Group for KTP activity. The team within Cardiff's KTP Office has an excellent track record in the development and delivery of KTPs, providing advice, guidance and support from inception to completion of each project. They are experts in the management of the application process which is reflected in their 100% success rate of securing KTP funding.
Picture caption - REID Lifting was presented with their dual awards by the Lord Lieutenant of Gwent, the Queen's Representative