David Davies, Member of Parliament for Monmouth, visited TXO on 28 May 2014 to officially open the company’s new telecom equipment refurbishment and repair facilities, and discuss its ambitious three year expansion plan.
Commenting on the visit, David Davies said “TXO is a stand out example of a Welsh company fully integrated with the global economy. TXO’s commitment to the area will ensure new employment opportunities and a centering of global expertise. I look forward to delving into their success story at a local level.”
The Chepstow headquartered business specialises in the recovery, reuse, resale and recycling of pre-owned telecoms and networking infrastructure equipment globally, enabling its customers to drive down cost whilst meeting environmental and sustainability targets.
The company is expanding its service offering to include an on-site multi-vendor telecom network repair facility. The new facility will provide a single-source solution for Telecom Operators and Service Providers wishing to extend the life of their telecom networks. Telecom equipment manufacturers (OEMs) will also be able to use the facility to outsource repair and maintenance contracts.
TXO has experienced an impressive 40% CAGR in the last three years of trading, taking total employee numbers up from 20 to 100 globally. This year the business received a £4 million Revolving Credit Facility from HSBC to help accelerate growth still further. The company’s three year growth plan targets a trebling of turnover and an increase in global employees to 200 by 2017.
TXO will recruit from the local area to help expand its operational and sales base in Chepstow. As one of the world’s largest used telecom equipment providers, it will continue to make further investments in its stock holding of 600,000+ telecom parts, and plans to grow its overseas operations in the USA, Brazil and China.