PWR RACES AWAY WITH AWARDS

PWR Performance Products is powering from one award win to another, last night taking out the prestigious Prime Minister’s Exporter of the Year Award.

The Yatala-based engine component manufacturer was one of twelve companies vying for the national award at its 50th anniversary gala event at the Parliament House Great Hall.

PWR provides engine cooling components for some of the world’s top motor racing teams, including the three-time world-championship-winning Red Bull Formula One team of Sebastian Vettel and Mark Webber.

It supplies more than half of teams competing in the Formula One championship, 90 per cent of the cars competing in the NASCAR circuit and is a dominant presence in the V8 Supercar series.

Queensland treasurer Tim Nicholls congratulated the company, which also won the Small to Medium Manufacturer Award.

“PWR is an outstanding Queensland company that designs and sells its high performance cooling systems to racing markets around the world,” says Nicholls.

“In the past year, PWR has supplied products to winning NASCAR and Formula1 teams.”

Race car driver Paul Weel started PWR in 1997 as an off-shoot of his father Kees Weel’s radiator business.

Federal Trade Minister Craig Emerson hosted the awards and says exporters like PWR Performance Products will play an important role for Australia in the Asian Century.

"I congratulate tonight's winners and wish them continued success in the future," he says.

PWR beat 78 national finalists with a combined contribution of $8.6 billion in export earnings to the Australian economy, while employing more than 27,000 people.

On Saturday night, PWR Performance Products won the Gold Coast Business Excellence Award in the manufacturing and construction category. It took out the overall best business award in 2011.