Nov 19, 2020 | Other

Forming new partnership ties with Composites UK

Western Union Business Solutions are excited to announce our partnership with Composites UK, the Trade Body for the UK composites industry.

As the recognised trade body for the industry, Composites UK strives to further their member’s interests in all things related to Composites (a material made from two or more constituent materials, which when combined, produce a material with characteristics different from the individual components). By partnering with Western Union Business Solutions, their offering to members has expanded to include foreign exchange insights, support and services from Western Union Business Solutions as the majority of their members have elements of international trade involved in their businesses; from importing materials and machinery, to exporting products far and wide.

With members ranging from consultants to international companies, Composites UK has strategic partnerships with companies and associations to aid member companies. Alongside their collective voice influencing government policy and standards, business support and numerous networking opportunities from site visits, sub sector groups, exhibitions, supply chain meetings, they also support with skills training and providing industry statistics and updates to benefit their members.

The composites industry is ever changing, as new materials, processes and applications are constantly being developed. The global composites materials market is growing at about 5% per year, with carbon fibre demand alone growing at 12% per year.

With around 1500 British companies involved, the UK composites product market was estimated at £2.3bn in 2015, and could grow to £12bn by 2030 ( Reference: The 2016 UK Composites Strategy).

As composites are present in hundreds of new applications every year, from golf clubs to jet skis, aircraft, missiles and spacecrafts across multiple sectors such as aerospace, automotive, construction, consumer goods, defence, marine, medical, oil & gas, rail and renewables, Western Union Business Solutions are well positioned to help those businesses trading internationally to navigate the global marketplace through our extensive global network, spanning 200 countries/territories and over 130 currencies. Combined with our knowledge of local markets, we can help businesses manage international payments simply, effectively and efficiently.

This partnership offers a platform for Western Union Business Solutions to engage with current and prospective members to help support them in their business stability, growth and global endeavours whether that includes global payments, cross-border transfers or currency volatility. In addition to this, both parties are keen to explore other collaborative initiatives such as events in order to further strengthen benefits all round.

Christina Wadlow, Head of Partnerships at Western Union is pleased to see the partnership come to fruition and is looking forward to new collaborations, commenting “having understood the synergy across our client bases and the desire to support business growth from both sides of the relationship, we’re excited to become more visible to businesses who may not have considered reaching out to us previously so that we can support their cross border payments and risk management strategy in terms of foreign exchange rates and their fluctuations.”

Composites UK Supply Chain Relationship Manager, Charlotte White, is equally enthused about the opportunities that the partnership will bring.

“As an organisation, we are very proud to work alongside Western Union Business Solutions as a part of our Partner network and forge new opportunities at the same time.”

Look out for future announcements on our social or through your Composite UK or Western Union Business Solutions contact.

T: 0800 096 0172