June 2018
PANAMA
PROJECT PUTS MECHAN ON MAP IN THE AMERICAS
Takeda
buy drug manufacture Shire in $62 bln deal
Royal seal of approval for
TRIO Healthcare
Pioneering Silicone Ostomy Product Improving Quality Of Life For Patients
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Contents
Introduction Welcome to the 3rd issue of UK Trade Magazine. The leading digital publication highlighting UK exports, overseas trade deals and investment news.
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Export Deal Helps Steel Fabrication Company To Double Workforce & Triple Turnover
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China Ocean Engineering Shaghai Co (COES) Indiciate Intent To Establish Base In Scotland
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Panama Project Puts Mechan On Map In The Americas
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North East firm reaps the benefits of exporting after partnering with industryleading US firm
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ABHI Expands US ‘Innovation Hub’
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HealthTech Association Host Inward Trade Mission Helping US Companies Enter The UK Quicker
Thank you for your support. I hope you enjoy this magazine. If you wish to connect with me on LinkedIn, you can do so by clicking here.
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U.S. Expansion Planned as P3 Medical Ltd Continues to Grow
For any media enquiries, feel free to email me directly.
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Royal seal of approval for pioneering silicone ostomy product improving quality of life for patients
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Japan’s Takeda clinches $62 bln deal to buy drugmaker Shire
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UK Based Football App Announces £8.275 Million Investment
Editorial Editorial contributions must be emailed to news@uktrade.news, with a high-resolution image and/or video link. Editorial and advertising contributions must be received by the 15th of the month. We accept no legal responsibility for any drawings, photographs, videos or literary contributions during transmission or while in the publisher’s hands. No responsibility is accepted for any editorial errors. Opinions express in editorial content do not necessarily represent the views of Clickability Limited, and no responsibility is accepted by Clickability Limited for advertising or editorial content.
Featured on the front cover is Lloyd Pearce, Managing Director of Trio Healthcare who’s pioneering silicone ostomy product was recently awarded the Queens Award for Enterprise. In addition, we bring you engaging articles from five leading export sectors and a number of the UK’s most innovative companies making their mark in the overseas markets.
Matthew Pearsall, Publisher
Engineering
Major export deal helps BM Steel Fabrications double workforce and triple turnover Newry based steel fabrication company, BM Steel has won its first business in Holland & Great Britain, estimated to be worth £800,000 in its first year.
provider of Component Parts and Bespoke Structures. The company is a major supplier to Cargotec Ireland and offers works in structural steel and corresponding architectural works, having recently completed projects in London and Scotland. “The support and training we have received from Invest NI has helped to increase our confidence in many areas from promoting and selling our products, to how to approach a meeting with a potential buyer”, added Mike. The company has availed of a range of Invest NI trade support to help secure this new contract, most recently visiting the GB market where it met with a number of potential buyers. Supporting ambitious Northern Ireland businesses like BM Steel to identify new export markets, and then grow in those markets, is the main aim of the support we offer. BM Steel is a great example of a company which has seized the opportunity to build its business in global markets. We want to see more companies like this capitalise on their exporting potential
The contract is a joint venture with GB structural engineering firm, JB Towers, to supply the company’s products to DAEL Telecomm to service Holland and GB’s telecom market.
BM Steel was established in 2004 and has grown to become a leading provider of Component Parts and Bespoke Structures.
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Mike Mathers, Director of BM Steel said: “In the last six months we have doubled our workforce and almost trebled our turnover. This is due to our ambitious growth strategy and our focus on exporting to help our business grow. “Exporting is literally transforming our business and we are very keen to expand further into the GB and Europe markets and grow our customer base globally.” BM Steel was established in 2004 and has grown to become a leading
- Alison Gowdy, Invest NI Congratulating the company Alison Gowdy, Invest NI’s Director of Trade said: “Securing this major contract with one of Holland’s biggest players in the telecommunications industry, DAEL Telecomm, is not only a great result but will also open up more opportunities for the company. This experience has helped it develop the skills and confidence to make professional sales presentations and win new business. “Supporting ambitious Northern Ireland businesses like BM Steel to identify new export markets, and then grow in those markets, is the main aim of the support we offer. BM Steel is a great example of a company which has seized the opportunity to build its business in global markets. We want to see more companies like this capitalise on their exporting potential.”
Engineering
CHINA OCEAN ENGINEERING SHANGHAI CO ANNOUNCES STRATEGIC INTENT TO ESTABLISH A PROJECT BASE IN SCOTLAND The China Ocean Engineering Shanghai Co (COES) have indicated their strategic intent to establish a project base in Scotland during a meeting with Scotland’s First Minister Nicola Sturgeon in Shanghai. COES is a Chinese state owned company, globally recognised for providing more than 60 years of service to the marine construction and offshore industry. The company who specialise in offshore construction and decommissioning, ocean going towage, salvage and wreck removal and offshore renewable activity worldwide have been scoping out premises and port facilities to determine the best location logistically central to all the ports on the eastern seaboard of Scotland which will offer the capability and available capacity to serve offshore markets in the UK, Norwegian and Dutch sectors. Dundee has been selected as the location for the COES Scottish project office base. The company anticipates the creation of jobs in Scotland, linked to contract success. This new presence will allow the company a better position to capitalise on the massive opportunity in Scotland’s offshore oil and gas decommissioning market. Latest forecasts from the industry trade association Oil and Gas UK estimates decommissioning
expenditure at £17 Billion on the UK continental shelf alone covering the period through until 2025. Forecast annual decommissioning spend on the Norwegian and Dutch sectors are put at between £400 - £800 Million and £650-£800 Million respectively. The First Minister said: “I welcome the announcement that COES intends to establish a base in Scotland. Throughout my visit to China I have been travelling with the message that Scotland is a fantastic place to invest and do business. I look forward to hearing more details of COES’s plans in due course.” COES has a flexible fleet of over 40+ specialised assets and an excellent track record of successfully completing the most complex of projects. It is hoped that the company’s capabilities will prove of great interest to prospective clients in the UK, Norwegian and Dutch offshore sectors. COES has recently invested substantially in the construction of 2 new state of the art construction engineering vessels which are currently under construction and are expected to will bring pivotal and game changing
marine capabilities to the region. In 2017, COES received international acclaim by marine experts for successfully completing, arguably, one of most difficult offshore single lift wreck recoveries ever attempted. The Raising of SEWOL passenger ferry, which sank off the southwest coast of Korea was the most complex and sensitive of projects and by way of achievement it was a: »» World first - single piece, intact wreck removal 7,900 MT from 45m water depth in extreme sea and seabed conditions. »» World record trailer load in operation »» Enviable Health, Safety & Environmental record which included 12,000 hours working under water.
COES
has a flexible fleet of over 40+ specialised assets and an excellent track record of successfully completing the most complex of projects.
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Manufacturing
PANAMA PROJECT PUTS MECHAN ON MAP IN THE AMERICAS Rail depot equipment specialist, Mechan, is expanding its export horizons and preparing to ship its very first order to the Americas.
The Sheffield-based manufacturer is supplying heavy lifting equipment to the Panama City Metro, as part of a major project to construct a second line in the republic’s capital. Mechan is working with parent company, CIM Group, to deliver a set of 20 12-tonne lifting jacks, four turntables and 40 vehicle stands to a new build depot in the Nuevo Tocumen area of Panama City. The equipment is about to leave the UK, after successful factory acceptance tests. This is Mechan’s first project with CIM, following its acquisition by the French group in March last year. CIM has a contract to install and maintain 50 kilometres of track, catenary and workshop equipment in Panama City, linking the western district of San Miguelito with Felipillo in the east. Lindsey Mills, Mechan’s sales manager, said: “Since CIM’s takeover, our international development has accelerated dramatically and we are
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receiving enquiries from across the globe. The Panama project is particularly significant, as the Americas were the only remaining continents we had yet to supply. Production of the equipment is going well and we are looking forward to travelling there very soon to oversee the installation.” Completion of the Panama City Line Two project is expected in 2019, introducing 21 five-car Alstom Metropolis trains to the capital, significantly improving travel options for its 1.4 million inhabitants. CIM completed Line One in 2014 and has, since then, worked in close partnership with the Panamanian Ministry of Education at a professional railway maintenance training centre. For more information about Mechan’s flagship lifting jacks or its wide range of depot handling equipment, email info@mechan. co.uk, telephone (0114) 257 0563, visit www.mechan.co.uk Author: Nina Sorby, Corner PR www.corner-pr.co.uk
Completion of the Panama City Line Two project is expected in 2019, introducing 21 five-car Alstom Metropolis trains to the capital, significantly improving travel options for its 1.4 million inhabitants.
Manufacturing
North East firm reaps the benefits of exporting after partnering with industryleading US firm A Sunderland thermal systems business is celebrating after forming a strategic partnership with a major US company. HTUK, based at the North East Business and Innovation Centre (BIC), has secured a long term relationship with US-based Watlow – the world’s largest industrial heating manufacturer. Established in 2001 the company has grown into an integrated thermal solutions provider and operate under the HTUK banner. Their specialist support sees them supply and install industrial heaters, temperature sensors, controllers, insulation and system assemblies. The business also specialises in designing and manufacturing complete thermal systems, allowing them
to recommend, develop and deliver thermal solutions for their customers. And the firm are now a distributor for Watlow and their collaboration marks significant business progress for the Sunderland firm, according to HTUK’s Managing Director Alan Pearson. “We’re delighted to be working with Watlow and to have a great relationship with their European Distribution Manager, Walter Taylor,” said Alan. “They have big ambitions to be a billion-dollar company by 2023 and
we’re very happy to be part of their journey.” Speaking on the benefits of the partnership, Alan explained: “Opening up export is crucial to our long term success so developing and maintaining a good relationship with world class partners is essential to that success. “With the addition of Watlow’s products we now have access to different markets meaning we can win new customers. “And the solid working relationship with high quality, like minded companies gives us continuity of supply and allows us to grow – it’s as simple as that.” The company’s growth is further highlighted by the fact that over the 16 years HTUK have been based at the BIC, they have continued to expand and have become a leading international heating supplier. After starting out in a small incubator unit, the family-run business now occupy a large office and warehouse at the BIC to house their staff and substantial stocks, and the firm now distribute products to over 20 different countries worldwide. Watlow’s Walter Taylor added: “Both of our companies’ sales are on the rise which is great news for both parties. “The partnership has been successful so far and we’re delighted with the way business is going.”
Author: Thomas Embleton, North East Business and Innovation Centre (BIC) www.ne-bic.co.uk Photo caption: (L-R) Walter Taylor & Alan Pearson
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Medical
ABHI Expands US ‘Innovation Hub’ Author: Julia Price, Julia Price PR www.juliaprice.co.uk
ABHI has taken another important step in supporting UK HealthTech companies do business in the US. Following its launch six months ago, ABHI’s Innovation Hub has proven to be of significant benefit to UK companies. As a result, the Hub will now be expanded to accommodate double the number of organisations.
The Hub is a unique partnership between ABHI and the Dell Medical School at the University of Texas in Austin, offering UK companies a base within the State of Texas to grow their business. With access to Dell’s world-class faculty, the Hub allows companies to take advantage of a network of clinical contacts, hospital systems, investors, and key business groups. “The adoption and use of innovative technologies is the greatest enabler for delivering population health and valuebased care. We are therefore delighted to be working with ABHI and the Innovation Hub members to deliver this”, added Ruben Rathnasingham, Assistant Dean for Health Product Innovation at Dell Medical School. He continued: “it is particularly pleasing to see just how successful this initiative has been, and I look forward to supporting more UK companies across Austin and the wider State.”
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The Innovation Hub is a critical part of ABHI’s US Accelerator Programme, which also gives companies complete access to ABHI’s Texas trade missions, designed to forge and develop partnerships across the State with leading clinical communities. In addition, inclusion in the Innovation Hub allows companies to participate in the ‘Texas Health Catalyst,’ a programme designed by the Dell Medical School to foster health research and advance innovation. Speaking about the partnership, ABHI International Director, Paul Benton said: “We have had so much momentum with the Innovation Hub that we have decided to expand the scheme to enable more companies to benefit from it. Not only are we offering physical space and connections, but the support offered through our network of US-based mentors allows companies to tap into
Medical
advice and expertise from a group of inmarket specialists. It is a great opportunity and we are looking forward to welcoming more UK companies into the Hub over the coming months.” Commenting on his company’s decision to join the Innovation Hub, Simon Talbot, P3 Medical’s Managing Director said: “This is a great opportunity for us as a company. Being part of the Hub allows us to be in a world-class facility, within an ecosystem of clinicians, investors and mentors whilst we grow our American business.” East Midlands Academic Health Science Network Managing Director, Professor Mike Hannay added: “Innovation is essential to the future of healthcare around the world and we are committed to building relationships that enable better clinical outcomes and improved patient experiences. The Hub is a great opportunity to make this happen.”
Innovation Hub allows companies to participate in the ‘Texas Health Catalyst,’ a programme designed by the Dell Medical School to foster health research and advance innovation. Supporting the initiative, Richard Stone, Chief Executive, Medilink WM added: “The US market is highly prized, but challenging to enter - particularly for SMEs, and in a trading environment dominated by Brexitrelated worries, Medilink wholeheartedly supports positive market access initiatives such as the ABHI Innovation Hub.” Applications to join the Innovation Hub are now being accepted. For further queries, or to apply to join, contact paul.benton@abhi.org.uk
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Medical
UK HealthTech Association Launch First Pathfinder Program The UK’s leading health technology trade association is hosting an inward trade mission to help US companies accelerate the speed at which they enter the UK. The week-long Pathfinder Program will connect businesses to hospital systems in key cities, as well as a comprehensive overview of the UK market, remuneration systems, regulation and guidance on navigating Brexit. Mission participants will also have access to ABHI’s International
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Membership scheme, providing companies with year-round support and access to the association’s network of connections. ABHI coordinates several outbound missions to the United States each year, which has seen significant partnerships in some of the nation’s largest States, as well as the establishment of an Innovation Hub at Austin’s Dell Medical School. The Pathfinder Program, running from 18th – 22nd June 2018, now sees the
Medical
association extend its deep UK market knowledge to US companies. Paul Benton, ABHI’s Managing Director of International said: “We are a country steeped in academic excellence, and in the NHS, we have the biggest single-payer health system in the world. By actively developing a sustainable two-way trading bridge, we can connect pioneering US companies with the right UK partners. ABHI’s Pathfinder Program is a terrific opportunity for those looking to collaborate, learn and accelerate their business this side of the Atlantic”.
Academic Health Science Network is delighted to support ABHI’s inward mission which will build on the UK’s strengths in health technology.” Supporting partners of the Pathfinder Program include: the US Commercial Service, AdvaMed, the UK’s Department of International Trade, the Academic Health Science Network, National Institute for Health and Care Excellence (NICE), Medicines and Healthcare products Regulatory Agency (MHRA) and National Institute for Health Research (NIHR).
The Academic Health Science Network is delighted to support ABHI’s inward mission which will build on the UK’s strengths in health technology.”
Commencing at the new US Embassy, the mission will take in visits to healthcare hubs, including London, Cambridge and Birmingham. Commenting on the Program, Verena Kallhoff, PhD, MBA, Manager of the Health CoLab at University of Texas Dell Medical School said: “ABHI has demonstrated a strong commitment to transatlantic partnerships and collaboration. For US companies looking to access the highly dynamic UK market, ABHI are uniquely positioned to provide expert levels of guidance, insight and support. No other trade association has the knowledge, credibility, and connections to the UK health system like ABHI.” Tony Davis, Commercial Director of West Midlands Academic Health Science Network added: “The
For more information on the UK Pathfinder Program, please direct all enquiries to david.phillips@abhi.org.uk.
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Medical
Royal seal of approval for pioneering silicone ostomy product improving quality of life for patients A life changing silicone adhesive that prevents abdominal stomas from leaking and provides a range of benefits for patients and healthcare professionals, has been awarded the prestigious Queen’s Award for Enterprise.
Privately-owned Trio Healthcare was presented the award under the Innovation category for its breakthrough patented silicone technology, which is improving the lives of ostomates around the world. It is the UK’s most prestigious business accolade which recognises the benefits offered to ostomates and their unique needs. Abdominal stomas are surgically created intestinal openings which are a result of treating conditions such as colorectal and bladder cancer, Crohn’s or colitis. The stoma outputs body waste such as faeces and urine which is then collected in an
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odour-proof bag. At one time or another, all ostomates will suffer from leakage and therefore damaged to the skin, which has a dramatic impact on their social life and psychological wellbeing. To combat this, Trio has developed a unique, secure adhesive known as Trio Responsive® Silicone, that can be used around the stoma to provide a skin-friendly seal and a long awaited alternative solution to hydrocolloid. The company’s R&D team have focused on using a non-hydrocolloid technology to develop their innovation using silicone polymers.
Medical
By modifying the chemical make-up of the silicone formulation, Trio has developed a secure but comfortable solution that allows the skin to breathe normally, even perspire, whilst maintaining a secure connection. The patented formulation leaves no residue and its waterproof nature prevents absorption of any faeces or urine providing a complete barrier, which allows the skin to naturally heal underneath.
a person’s social life and well-being is dependent on the ostomy adhesive and bag’s performance.
The development of the pioneering technology – which is manufactured in house -has enabled Trio to launch a revolutionary range of silicone-based accessory products in an industry dominated by hydrocolloid. These products are seen as a precursor to the natural next phase of ostomy products coming out of Trio’s pipeline. The company is currently in the development phase of a new, innovative ostomy system to complete the range.
The Queen’s Awards are presented each year by Her Majesty Queen Elizabeth II on her birthday, 21st April, on the advice of the Prime Minister, assisted by an advisory committee comprising representatives of Government, industry, commerce and the trade unions. The company will attend a reception at Buckingham Palace in June, hosted by HRH Prince of Wales.
Lloyd Pearce, Managing Director from Trio, said: “We are delighted to win such a prestigious award for our contribution to ostomy care. Due to the stigma and embarrassment associated with body waste and bag leakage,
“Too many people around the world were suffering from leakage and irritated skin, so as a company we have made it our mission to provide an alternative solution . Our products offer reassurance and comfort, so the wearer can get on with their everyday lives without fear of sore skin.”
This is the second time Trio Healthcare have been the recipients of a Queen’s Award for Enterprise. In 2011 they were awarded the Queen’s Award - International Trade. The company have offices in both Buckinghamshire and North Yorkshire.
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Pharmaceutical
Japan’s Takeda clinches $62 bln deal to buy drugmaker Shire Takeda Pharmaceutical agreed to buy London-listed Shire for 45.3 billion pounds ($61.50 billion) after the Japanese company raised the amount of cash in its offer to secure a recommendation.
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The deal -- assuming it wins the backing of shareholders -- will be the largest overseas acquisition by a Japanese company and propel Takeda, led by Frenchman Christophe Weber, into the top ranks of global drugmakers. The tie-up is one of the largest ever in the pharmaceuticals sector, crowning a hectic few months of deal-making as big drugmakers look to improve their pipelines by bringing in promising medicines developed by younger companies.
Pharmaceutical
Shire had rejected four previous offers, due to price concerns and the fact that the Japanese company is proposing to pay for much of the acquisition in stock.
The final deal is approximately 46 percent cash and 54 percent stock, leaving Shire shareholders owning around half of the combined group.
The enlarged group will be a leader in treatments in gastroenterology, neuroscience, oncology, rare diseases and bloodderived therapies, used for serious conditions such as haemophilia. The agreement came on the last day for Takeda to make a firm bid. Shire had rejected four previous offers, due to price concerns and the fact that the Japanese company is proposing to pay for much of the acquisition in stock.
Shire investors will receive $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda American depositary shares for each share, the companies said, valuing the offer at 48.17 pounds a share based on the latest price and exchange rate. Shire’s shares, which had been trading about 10 pounds below the value of Takeda’s offer, traded 4 percent higher at just over 40 pounds, still well under the agreed price and indicating that shareholders still have reservations. Jefferies analysts said they expected the shares to trade at a relatively wide discount to the offer, given the large stock component and the fact that the deal is not expected to close until the first half of 2019.
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Technology
Dugout Announces New £8.275 Million ($11.685 Million) Investment
Digital football business Dugout today revealed details of new investment that will see the company expand its existing operations, as well as ambitious partnership plans to enhance its technology offering and support growth in the MENA region. Dugout represents the first time the world’s biggest clubs have joined forces to create a business - with founding partners including AC Milan, Arsenal FC, Chelsea FC, FC Barcelona, FC Bayern Munich, Juventus, Liverpool FC, Manchester City FC, Paris SaintGermain, Real Madrid CF, Inter Milan, Roma, Napoli, Tottenham Hotspur, Atletico Madrid and more. All 77 clubs (and a growing number of players) have a dedicated Dugout profile to upload content and interact with fans, meaning that Dugout
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users get a totally personalised experience based on the clubs and players they follow. The business launched in late 2016 and has already gathered over 67 million unique users and 912 million video views to date. Dugout has a social footprint of 2.1 billion and over 12,500 videos have been posted on the platform by clubs, players and brands. Today, Dugout has announced an additional £8.275 million investment led by renowned US entrepreneurs David and Frank McCourt, alongside a number of other strategic smaller-scale
investors. The £8.275 million investment reflects the rapid growth of the business and its expanding network of partners across football, business, media, technology and brand advertising. David McCourt, founder and CEO of Granahan McCourt Capital, the worldwide investors in technology, media and telecommunications, is one of the world’s most successful entrepreneurs. David is also the founder of ALTV.com, one of the fastest growing free streaming services in the MENA region. His
Technology
brother, Frank, is Chairman and CEO of McCourt LP and McCourt Global, and well known to sports fans as the owner of Olympique De Marseille and former owner of the Los Angeles Dodgers. David McCourt, Founder and CEO of Granahan McCourt Capital, said: “Dugout represents an excellent opportunity to capitalize on two significant global trends. Firstly, the huge demand for great, original and highly-personalized content. Secondly, the soaring popularity of football in practically every market. Dugout has already done what many thought impossible by bringing the world’s top clubs together in one shared enterprise. Now, we want to use this excellent foundation to grow a truly iconic company that inspires fans and brands the world over.” “Our collaboration with Dugout will also enhance the company’s tech capabilities and enable it to grow its audience in strategically important markets. For example, the partnership between Dugout and ALTV will deliver exclusive access to original content for football fans across the Middle East and North Africa.” Elliot Richardson, Founder and Chairman of Dugout, said: “We are delighted to have secured both the Series A funding round and strategic capital investment, led by Frank and David McCourt. Frank and David bring with them decades of commercial success, experience and entrepreneurial zeal - they are fantastic partners as we move into the next phase of our development as a business.”
“We’re thrilled with how popular the platform has proven so far with fans, as well as the brands and commercial partners we’ve brought into the fold. This investment keeps that momentum going and partnerships with innovators like ALTV and Alchemy Media both enhance our technology offering and open up key markets like the Middle East and North Africa, where we know our club partners have such huge support.” Dugout has recently announced a number of other strategic partnerships designed to support the business’ objective of expanding its global presence. For example, in December Dugout launched a partnership with Major League Soccer (MLS) - boosting the brand’s global profile and tapping into the growing popularity of football in North America. Today’s announcement highlights the company’s focus on MENA, although Dugout is expected to make further announcements in the coming weeks about other territories and partnerships. This approach reflects Dugout’s core belief in “localisation of content” - giving partners and brands detailed analytics that enable them to better understand audience behaviour and tastes in specific markets, in order to boost fan engagement and unlock potential. The company has also signed deals with innovative tech companies like VEWD, SPOTX Rakuten/Viber and Amazon to reach more users and provide brands advertising on the platform with better engagement, cutting-edge user consumer targeting and detailed analytics.
Dugout has recently announced a number of other strategic partnerships designed to support the business’ objective of expanding its global presence.
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