Cadden, specializing in electronic measuring systems for geopositioning and oceanography, is entering a new growth phase. The Nantes-based small business wants to earn 20% of its sales internationally within 2 years. To achieve this goal, a new “export” sales representative has joined the team.
2011, a pivotal year
Until 2011, Cadden’s business outside France primarily involved leasing echosounders and sonars to the overseas territories. In 2011, the 22% jump in sales over 2010 was mainly due to an increase in exports, which grew six-fold. This strong growth is the result of two product lines and services:
- The Geod range, a series of smart GPS antennas designed by Cadden’s R&D team, launched in mid-2010. Supported by OSEO Innovation, the in-house development of these products also enabled the company to obtain a research tax credit, reducing its investment. This year, the company secured several contracts for these antennas with African countries (Congo, Mauritania, Angola), and a major trade agreement was recently signed with global leader Fugro.
- The "Integrated Hydro Pack," a turn-key solution for equipping survey vessels. Initiated for the DEAL in La Reunion in March 2011, this innovative approach responds to a clearly identified need expressed by shipyards worldwide.
- Four new employees
These results are the first fruits of the international development strategy implemented by Gilles Dandec, director of the company. Cadden has also enlisted the services of Coface, which has provided effective support in obtaining co-financing for export insurance and hiring a dedicated sales representative. Frédérick Clément, an experienced professional in the offshore sector, joined the company in mid October 2011 to develop international sales. The activities of technical support, development and marketing support have also been strengthened, with the arrival of three new employees during the last quarter.
A target of 20% of sales from exports
In twelve years, Cadden has become a major player in the integration and distribution of high-tech solutions on the French hydrography market. While continuing to pursue growth in France, the company's objective is to earn 20% of its sales in Europe and Africa by June 2013. In the longer term, Cadden plans to increase its exports by creating a dealer network to sell Cadden branded products and integration services.