UK Export Finance: Welsh business secures £2 million export contract

  • UK manufacturer Global Attractions wins its largest ever contract in South-East Asia with government backing
  • It’s world leading soft play centres are sold to the world from Wrexham
  • The seasoned Welsh exporter uses government support to fuel its ambitious export led growth plans

Children in Thailand will soon be crawling over Welsh-made soft play centres as a Wrexham-based manufacturer secures a £2 million export contract with UK Government help.

UK Export Finance (UKEF) has been working with Global Attractions to help them expand to the far corners of the Earth and boost British business.

The contract is the company’s largest ever contract and is expected to help create local jobs as we build back stronger from the pandemic.

Global Attractions is the latest UK company to benefit from UKEF support. Last year, UKEF provided £12.3 billion for over 550 companies, which is estimated to have supported over 100,000 UK jobs directly and in the supply chain – showing how effective UKEF is in delivering for the country.

 

Minister for Exports, Mike Freer, said:

“Companies that export are more productive, more profitable, and pay higher wages – which is essential for us to build back better from the pandemic.

I am delighted that UK Export Finance has delivered yet another multi-million pound export contract which will create jobs and boost GDP.”

 

Andy Davies, Finance Director at Global Attractions, said:

“Securing finance solutions for our customers unlocks vital overseas trading opportunities for us. The collaboration between UK Export Finance and the London Forfaiting Company has allowed us to find that solution, providing opportunities for us to grow and help our customers to fulfil their projects.

The vision of our parent company, SPI Global, is for Global Attraction to be the number 1 full concept supplier within the Play & leisure industry worldwide. The fast-growing market demand coupled with our main manufacturing unit being right here in Wales, the export facility provided by UKEF will be significant in achieving that goal.”

UKEF support for the project, provided through the London Forfaiting Company, allowed Global Attractions to offer its buyer favourable repayment terms, helping the company win the contract ahead of overseas competitors.

Global Attractions, a designer, manufacturer and distributor of family entertainment units, secured the international contracts to build and export soft play centres to shopping malls in Pattaya City and Bangkok.

The company won the contracts internationally due to its high-quality British designs and expertise coupled with a competitive financing package backed by the UK government. This builds on projects delivered for global businesses for over 25 years including McDonald’s, IKEA, KFC and Ferrari World Abu Dhabi – all from its base in Wrexham.

Its soft play centre will feature in one of the Pattaya City’s largest malls, with 4 floors dedicated to family friendly activities that attract 1 million residents in the city just south of Bangkok.

This deal has opened a new trading market for Global Attractions. The company is now capitalising on this success by securing another deal to supply a soft-play centre to be shipped and installed in Bangkok, also with UKEF support.

 

Secretary of State for Wales, Simon Hart, said:

“It is great to see a Welsh business, Global Attractions, win contracts worth over £2 million and I’m delighted that they have achieved this with the help of UK Export Finance.

“There is phenomenal growth potential for this business in South-East Asia, and it’s wonderful to see Global Attractions thriving despite the difficult circumstances that this pandemic continues to bring.”

 


About UKEF

UK Export Finance is the UK’s export credit agency and a government department, working along-side the Department for International Trade as an integral part of its strategy and operations.

Established in 1919, it exists to ensure that no viable UK export should fail for a lack of finance from the private market. It provides finance and insurance to help exporters win, fulfil and get paid for export contracts.

UKEF has a number of products available to support small businesses across Wales. Local exporters who want to know more about UKEF’s support should contact their local Export Finance Manager to support their exporting journey.

UKEF support was provided through its Bills & Notes Guarantee, which ensures UK exporters get paid immediately for their goods and services while the buyer benefits from longer repayment terms.

Editor

Lisa Baker is the Editor of International Business News. As the Owner of Need to See IT Publishing, Lisa is an experienced business and technology journalist and publisher.

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