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Gloucestershire Business News

Government official parachuted into fast-growing business

Increasing activities in international markets of a Gloucestershire business have drawn the attention of Government - so much so it has decided to put one of its own on the board.

Advanced materials engineering group Versarien plc said it is "pleased to announce" that Matt Walker, will join the Cheltenham company for 12 months on secondment.

Mr Walker is head of outward direct investment at the UK Government's Department for International Trade (DIT) and will work exclusively for Versarien as head of international strategy and Government relations.

Neill Ricketts, CEO of Versarien (pictured), said: "Matt will be key to ensuring the successful continued international expansion of Versarien and maintaining our special relationship with the UK Government.

"I would like to express my sincere thanks to the Department for International Trade for their continued support and in particular their faith in Versarien through seconding such a senior resource.

"The inclusion of Matt in our growing team enables us to focus on our plans for the international expansion of the Nanene Brand in multiple locations and regions, whilst still focussing on our current collaborations, which are progressing well, and additional projects we are discussing."

Since the DIT's creation on July 13, 2016, the secretary of state for international trade has been clear the DIT should support UK businesses with their overseas investments, naming this as one of the department's priorities.

Academic research suggests that companies which invest and/or export overseas are more profitable.

"More profitable UK companies are, therefore, extremely valuable to improving and benefitting the overall UK economy," said the statement released by Versarien.

It added: "The DIT has recognised that Versarien is increasing its activities in international markets and that in order for Versarien to fulfil its ambitions in these markets and to ensure that it creates a robust and sustainable international investment strategy, it would benefit from further UK Government support, alongside private sector support.

"The DIT therefore agreed to the secondment of Matt Walker to help progress Versarien's overseas investment ambitions, ensuring Versarien benefits from UK Government connectivity and UK Government benefits from the knowledge gained through seconding a senior resource into the private sector".

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