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27/01/2012
Innovation Boosts Sales Of Clandeboye Estate Yoghurt
Enterprise Minister Arlene Foster has heard how the Clandeboye Estate Yoghurt company in Bangor has almost doubled turnover by investing in innovation.
The company utilised an Invest Northern Ireland Innovation Voucher to develop new products leading to increased sales of yoghurt including to the Republic of Ireland and Great Britain.
The Innovation Voucher enabled the company to access the technology team and facilities at Loughry Campus of the College of Agriculture, Food and Rural Enterprise (CAFRE).
During a visit to the company Arlene Foster said: "The food industry is a vitally important part of my portfolio and one which I believe has substantial growth potential. Currently food and drink companies generate £3.7 billion for the Northern Ireland economy and employ almost 20,000 people. By focusing on market-led innovation, companies can achieve faster growth and provide new employment opportunities.
"In addition, food companies contribute substantially to the local farming industry and to the overall wellbeing of the rural community. Clandeboye Estate is an excellent example of how investment in a food business can help to sustain a dairy farm.
"The company’s success also shows that there is a very strong relationship between innovation, particularly in terms of new product development, and an increase in sales in Northern Ireland and in export markets.
"This small and ambitious company, which had established a base in Northern Ireland through the development of an initial product, recognised that it needed to expand its portfolio to meet market demand."
The Minister concluded: "Support from Invest NI’s successful Innovation Voucher programme enabled it to benefit from the knowledge and expertise of food technologists at Loughry Campus of the College of Agriculture, Food and Rural Enterprise (CAFRE) in creating a new product range.
"As a result of this investment in innovation, the company has doubled business over the past year and has seen an increase in sales in the Republic of Ireland."
Over 100 food and drink companies, mostly smaller businesses, have taken advantage of Innovation Vouchers to develop new products and processes that strengthened their capability to compete successfully and profitably particularly in markets outside Northern Ireland.
(GK)
The company utilised an Invest Northern Ireland Innovation Voucher to develop new products leading to increased sales of yoghurt including to the Republic of Ireland and Great Britain.
The Innovation Voucher enabled the company to access the technology team and facilities at Loughry Campus of the College of Agriculture, Food and Rural Enterprise (CAFRE).
During a visit to the company Arlene Foster said: "The food industry is a vitally important part of my portfolio and one which I believe has substantial growth potential. Currently food and drink companies generate £3.7 billion for the Northern Ireland economy and employ almost 20,000 people. By focusing on market-led innovation, companies can achieve faster growth and provide new employment opportunities.
"In addition, food companies contribute substantially to the local farming industry and to the overall wellbeing of the rural community. Clandeboye Estate is an excellent example of how investment in a food business can help to sustain a dairy farm.
"The company’s success also shows that there is a very strong relationship between innovation, particularly in terms of new product development, and an increase in sales in Northern Ireland and in export markets.
"This small and ambitious company, which had established a base in Northern Ireland through the development of an initial product, recognised that it needed to expand its portfolio to meet market demand."
The Minister concluded: "Support from Invest NI’s successful Innovation Voucher programme enabled it to benefit from the knowledge and expertise of food technologists at Loughry Campus of the College of Agriculture, Food and Rural Enterprise (CAFRE) in creating a new product range.
"As a result of this investment in innovation, the company has doubled business over the past year and has seen an increase in sales in the Republic of Ireland."
Over 100 food and drink companies, mostly smaller businesses, have taken advantage of Innovation Vouchers to develop new products and processes that strengthened their capability to compete successfully and profitably particularly in markets outside Northern Ireland.
(GK)
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