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IAC Wins Company of the Year Award

IAC are announced Welsh Company of the Year at the South Wales Chamber awards.

Newport-based Industrial Automation and Control (IAC), an electrical systems integrator, won the accolade at the awards, run in association with the University of Glamorgan Business School.

The Company, which operates from a 37,000 sq ft manufacturing facility on the outskirts of Newport and employs 66 staff, has successfully weathered the economic storm and is now aiming to double its size over the next three years through organic growth and acquisition.

Diversification has helped to strengthen the balance sheet and safeguard the company from the risk of a downturn in any one market.  The firm has also expanded overseas by acquiring Tiprow Controls in South Africa in 2010, a move which added £1.5m of turnover to the business.

Rather than laying people off when the recession hit, IAC Group made a commitment to the workforce to retain as many people as possible.  This decision not to downsize paid off as the company has been able to take advantage of opportunities as the economy recovered.

Speaking about the achievement of winning the award, Peter Lewis, managing director of IAC Group, said "the Welsh Company of the Year award is one of the most coveted awards in Wales, and I'm absolutely thrilled that IAC has been selected as a winner"

"We've worked hard to grow the business, in spite of the turbulent economic times that we've all been facing, and our determination to see it through has paid off.  2011/12 looks as if it will be a record year for the company, the current order book is looking good and the expansion of the workforce in 2010 means that the company can accommodate the increased workload comfortably.

"I'd like to thank our hard-working team, without whom all of this would not have been possible.  The wellbeing of our workforce is our number one priority and we are committed to ensuring their long-term future by continuing to run a thriving Welsh business."