Lee County Company Selected to Participate in Virginia’s VALET Program

RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Lee County company, DeRoyal Industries, Inc., of Rose Hill, into its two-year Virginia Leaders in Export Trade (VALET) program. Launched in January 2002, the program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as an expansion strategy.

DeRoyal Industries joins the program as part of the 11th class of VALET companies. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growth through export. Currently, 86 Virginia companies have been accepted to participate in the VALET program.

DeRoyal® is a privately owned, U.S. based manufacturer of quality healthcare products. Its product offering includes more than 25,000 stock keeping units encompassing the fluid waste management, birthing and neonatal, anesthesia and temperature monitoring, angiography and endoscopy, rehabilitation and therapy, sports medicine, orthopedic bracing and supports, wound care and disposable surgical accessory markets. Each of DeRoyal’s products exist in response to real needs based on the advice and input of clinicians in the surgical, orthopedic and wound care arenas. DeRoyal has manufacturing facilities in Europe and Latin America, as well as across the U.S. from California to Virginia.

“DeRoyal Industries is greatly honored to have been chosen as one of the participants in the 2007 VALET class by the Virginia Division of International Trade,” said Michael Iekeker, Vice President International, DeRoyal Industries. “We plan to capitalize on this valuable opportunity by utilizing the program's plentiful resources to access relevant market strategies. In order to achieve the goal of increasing our expanding international presence, we specifically plan to concentrate on markets in India, Hong Kong and Brazil. We expect our participation in several VALET Trade Missions as well as the benefits of the VALET market research program will be key tools for determining the feasibility of conducting successful business in these new markets.”

The VALET program incorporates services from a team of experienced international service providers who assist the VALET companies with their international goals. Service providers such as attorneys, Web designers, bankers, translators and freight-forwarders contribute essential skills for expansion into international markets.

“VALET welcomes DeRoyal Industries into the program,” said Leslie Parpart, VALET Program Manager. “We look forward to working with its international team over the course of the next two years to assist the company in exceeding export goals.”

The VALET program was recognized as a national model in November 2004 by the National Council for Public-Private Partnerships (NCPPP) for VALET’s innovation in bringing the public and private sectors together to achieve a benefit for the public. The VALET program was the only winner of the 2004 NCPPP Public-Private Partnership Award in the Innovation category.

The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 21-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico, Brazil, Korea and Japan.

To learn more about the VALET program, contact Leslie Parpart, VALET Program Manager, at LParpart [at] YesVirginia.org or visit the programs tab at www.ExportVirginia.org.