The UK government encourages businesses operating in emerging markets to prepare for bribery and corruption risks, as well as potential human rights abuses. The Department for International Development has launched the Business Integrity Hub to help businesses do this. Coltraco Ultrasonics talks about the benefits of operating a business with integrity in new markets.
Founded in 1987, Coltraco Ultrasonics Limited
is a leading British Ultrasonics Technology Manufacturer: “Using sound which others cannot hear, in liquids, air and solids.”
Coltraco Ultrasonics designs innovative and intuitive safety technology, focusing on watertight integrity, fire safety, condition monitoring and lifetime after sales support.
The company exports 89% of their output to 108 countries – 40% to Asia, 10% Middle east, 15% Europe, 17% N America and the balance to South America & Africa. They operate across 19 market sectors in service of 17% of the world’s commercial shipping fleet, top 15 navies, 50% of oil & gas operators and one out of four top renewable wind turbine O&Ms.
Coltraco Ultrasonic’s CEO and Managing Director Carl Hunter travels annually to more than 30 countries and has built a network of strategic partners, service providers and distributors to support their customers globally.
Operating with integrity has been a key drive of our business sucess and it is an increasingly important differentiator for us in highly competitive international markets. - Carl Hunter, CEO, Coltraco Ultrasonics
DRIVERS OF BUSINESS INTEGRITY
Coltraco Ultrasonics has been trading in frontier markets for many years. As a family company set up 30 years ago they have learned that doing business with integrity is also good for business.
Carl Hunter, CEO explains: “The fundamental foundation of our business is truthful, solidly- grounded science. We cannot sell truthful science without marrying this to commercial integrity, and together the two combine to underpin and give meaning to our core values. No long-term relationship can truly prosper without integrity at its heart.”
BENEFITS OF BUSINESS INTEGRITY
Doing business with integrity creates tangible business benefits for Coltraco Ultrasonics:
APPROACH TO DOING BUSINESS WITH INTEGRITY
Coltraco Ultransonics’ approach to embedding integrity in its core operations and along the value chain includes: