BRITISH racing legend Sir Stirling Moss OBE yesterday heaped praise on a fast-growing Exeter firm that is helping to drive motorsports around the world.

Sir Stirling, winner of 16 Grand Prix, officially marked the latest chapter in the success of fluid transfer systems or "hose" specialist Goodridge by opening its half a million pound factory extension.

The event also coincided with the firm's 40th birthday celebrations, with a lunch for city dignitaries and partners and suppliers from around the world, with guests coming from as far away as Australia.

Speaking to the Western Morning News, Sir Stirling, who turns 80 in September this year, said: "Thank God companies like Goodridge have remained because it's a company that was built on expertise and excellence and also, at the same time, is very approachable. Being able to expand now in these difficult times is fantastic. It's so nice to see a family company like this expand. They usually get taken over by another big consortium and they lose the personal touch."

It was the motorsport veteran's second visit to Goodridge, based on Exeter Business Park. Twenty years ago he opened the firm's new headquarters on the park – which saw it finally quit its "potting shed" home in Totnes.

Today it boasts a £30 million annual turnover and has a staff of 242, of which 77 are in Exeter.

Originally formed in 1969 by Stuart Goodridge, Goodridge rapidly established a core business of importing aircraft steel braided hose for the UK motorsport market.

The continued success and expansion in this market allowed the company to develop its own manufacturing base.

Its original rubber hoses have evolved to include hard line and flexible hose systems to meet the high specification demands of a modern automotive sector. And it now supplies its systems globally, with 10 offices in the UK, Japan, the USA, Germany, France, Spain, the Netherlands and Mexico.

It not only supplies original equipment for new vehicles under top car marques such as Bentley, Aston Martin and McLaren, but also produces upgrade hose kits for the retail market.

It is most famous for its specialist fluid line systems produced for motorsports, including Formula One and the North America's premier NASCAR (The National Association for Stock Car Auto Racing) series.

Significantly, it is also producing parts for the new Bloodhound SSC car designed to reach speeds up to 1,000mph.

Group managing director Bill Ray, who bought into the business last year along with director of corporate development Jon Hanna, said the firm had enjoyed a "record" 2008. "Last year was a record year and we are on track to make it a record year this year in terms of sales and profitability. We have been very fortunate this year; we have picked up some really exciting new business, including the Toyota team in the Nascar this year," he said.

For a full report see Thursday's WMN2 Business