One of Caerphilly County Borough’s largest businesses has won an award for its fight back from difficulty.
International Greetings, based in Ystrad Mynach, won at the recent Institute for Turnaround’s annual awards ceremony.
Widely regarded as Europe’s top turnaround awards, the event was hosted by broadcaster Jeremy Vine and recognises the work of Business Turnaround professionals helping companies in difficult circumstances.
Christine Elliott, CEO of the Institute for Turnaround, said, “International Greetings is important locally as it employs 450 people in Ysrtad Mynach alone. Turnaround work is the engine that will drive the local economy back to its full potential.”
International Greetings manufactures and trades throughout the UK, USA, Australia, Holland, Poland and China – making greetings accessories including 1.9bn feet of gift wrap, 70m crackers, handmade cards and gift bags per year.
In 2008 International Greetings announced a £27m loss. Since being turned around, the organisation returned to profit in 2010, with 9.4% growth in sales, and 46% growth in profit for 2011.
IFT fellow Chris Howell joined the organisation as non-executive director in 2009.