Formula Yacht Spars named South East exporter of the year
Lymington based, Formula Yacht Spars, one of the largest producers of performance carbon and aluminium yacht spars, was awarded the prestigious accolade of South East Exporter of the Year at the recent UK Trade and Investment (UKTI) awards.
Formula Yacht Spars was presented the award at the UKTI international Awards dinner at Mercedes Benz World, Brooklands on Thursday 22nd March. Formula also walked away with the High Growth Award for demonstrating significant growth in international trade at a sustained level.
Richard Balding, Chairman, and Mark Merritt, Group Managing Director, both of Formula Yacht Spars accepted the award from Jeff Alexander, an Executive Director of the South East of England Development Agency (SEEDA), and Richard West, formerly of McLaren and Williams Formula 1 teams.
“We are delighted that our efforts have been rewarded,” said Mark Merritt after receiving the award. “This shows what can be achieved by a hard working and dedicated team and demonstrates our commitment to global markets. Our export turnover has increased by nine-fold since 2004, which now accounts for nearly 70% of our total turnover.”
The Formula Group continues to go from strength to strength and the award follows the company’s acquisition of Black Flag Composite in France, which has greatly expanded their European base and led to Formula being recognised as one of the most technically advanced composite companies in Europe.
For further information about Formula visit http://www.formulayachtspars.co.uk
Send this story to a colleague
