October 1 2014 Latest news:
Friday, April 25, 2014
A St Neots IT company has won a Queen’s Award for Enterprise for its international trade.
Pico Technology Ltd was one of 10 firms in the East of England announced as a winner on Monday.
Based in Eaton Socon, Pico designs and manufactures electronic test equipment for diagnosing faults in vehicles.
Employing 64 people, it was set up in 1991 and has a network of 180 distributors in 130 countries across the world.
Sales to the United States make up nearly 42 per cent of its exports.
It won the Queen’s Award for continually growing its overseas earnings, which have shot up by 204 per cent in six years. Since 2008, growth of sales in Japan has been 460 per cent, China 543 per cent and Russia 271 per cent.
Pico managing director Alan Tong said: “We are honoured to win this prestigious award and our policy of finding the best local talent has led to this amazing growth of the company and made this all possible.”
Liz Basing, UK Trade and Investment (UKTI) East of England regional director, said: “The Queen’s Awards for Enterprise are the UK’s most prestigious business awards. Our region has enjoyed considerable success in recent years, and I’d like to congratulate the latest winners.
“Queen’s Award winners lead the way in showcasing the significance of international trade.
“UKTI East is already working with many award winners in the region. Our team is here to help businesses grow through exports, and I would encourage businesses of all sizes to contact us to begin their exporting journey.”
INFORMATION: For more on Pico, visit www.picotech.com.