CDE Global enjoys profit growth of 50% as it wins sales in foreign markets
Co Tyrone manufacturer CDE Global has increased pre-tax profits by around 50% to £2.5m. The firm also grew its turnover by 43% to £46.3m, with the company saying its strategy of targeting new export markets had paid off.
It designs and manufactures washing materials and classification equipment and has offices in India, Brazil and the US.
And the firm is hoping that it can win more sales in the sector of equipment for the recycling of construction and demolition waste.
It already has 30 recycling plants operating across the world, diverting around eight million tonnes of waste from landfill.
Earlier this year CDE announced that it will create 110 new jobs by 2022, in an investment worth £6.8m.
In the last year, the company's workforce has grown from 102 to 161.
Colin Trainor, CDE's finance director, said: "Our company figures for 2015 demonstrate that we are operating with confidence and aiming to reach our vision of being the number one wet processing equipment company in every country in the world."
"We are investing in our people and also in continuous R&D to bring to market new products which will help our customers to become more efficient.
"As part of our export strategy we are building local teams and expanding our offices in the USA and Australia."
During 2015 the company sold its goods to 33 countries, with 60% of its products exported outside the UK.
Its sales fall into categories including sand and aggregates, waste recycling, industrial sands, mining and environmental.
Mr Trainor added: "At the end of 2015 we set in place our 2020 vision strategy, which established our growth objectives for the next five years and detailed the geographies and the sectors which will present the greatest opportunities.
"Given the opportunities that exist across the world for our equipment, we are confident that we will continue to grow as we approach 2020, providing many more local employment opportunities across all areas of our business."
Its international offices are in Kolkata, Sao Paulo and North Carolina. And in Africa, the company has worked with Dar es Salaam company Estim Construction to provide its sandwashing plant, the CDE Combo X70.
The company's CDE M2500 is also being used in Kuwait in the Middle East.
Invest NI offered more than £1.3m towards the company's expansion plans announced earlier this year.
Its plans include building a new factory extension, as well as a new head office building to accommodate the expanding workforce.
Speaking at the time, Deputy First Minister Martin McGuinness described CDE as "a first class engineering company which is successfully exporting their innovative materials across the world".
He added: "It is an excellent example of how the capabilities of our local manufacturing sector can be developed for international success."
The Co Tyrone area has become known as the Silicon Valley of heavy machinery as firms follow in the footsteps of Powerscreen, set up in 1966.