The 'invisible' penny share fuelling China's growth

This small-cap engineering firm exports specialist equipment for power stations, with a lot of its business going to China. It has been around for nearly 200 years, yet it is 'invisible' to most investors, says Tom Bulford.

Chinese power generating capacity has grown six-fold since 1987. And it's not stopping there. Last year China spent a massive $115bn building the power stations needed to fuel its seemingly intractable growth.

These are big numbers for a big project. And last week I paid a visit to a little-known UK company that has an integral role in this project. I was at the Luton factory of Hayward Tyler, a venerable engineering company that can trace its history all the way back to 1815.

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Tom worked as a fund manager in the City of London and in Hong Kong for over 20 years. As a director with Schroder Investment Management International he was responsible for £2 billion of foreign clients' money, and launched what became Argentina's largest mutual fund. Now working from his home in Oxfordshire, Tom Bulford helps private investors with his premium tipping newsletter, Red Hot Biotech Alert.