Four Enterprise Ireland backed companies, Irish Breeze, Reagecon, Solvotrin Therapeutics and Novaerus have today announced new strategic partnerships with Chinese partners. The deals were announced at the inaugural China International Import Exhibition (CIIE), the world’s largest trade exhibition. Minister for Business, Enterprise and Innovation, Heather Humphreys TD is leading the six-day Enterprise Ireland trade mission to China, alongside Enterprise Ireland CEO Julie Sinnamon.
Nine Irish companies are showcasing the depth and range of Irish industry during the inaugural CIIE event in Shanghai, with the announced deals highlighting the #IrishAdvantage abroad. The companies announcing new deals today include healthcare, skincare, medtech and diagnostics specialists, and highlight the opportunity for significant growth in Asia Pacific, particularly on mainland China.
Deals announced today at CIIE include:
Irish Breeze signs deal with JD.com with plans to achieve sales of €25 million within five years for their Water Wipes product
Reagecon Diagnostics Ltd agrees distribution agreement with Beijing Thorigin for €10 million over five years
Solvotrin Therapeutics and Shanghai Fosun Pharmaceutical sign exclusive distribution agreement in Chinese market for Solvotrin’s product, Active Iron for over €15m per year over three years
Novaerus secures three-year distribution agreement with Hangzhou Door Import & Export worth €760,000 in product purchasing.
Irish Breeze, the industry leading provider of dermatologically friendly skincare wipes Water Wipes, has signed a deal with JD.com, China’s largest ecommerce market and retailer hosting more than 20,000 international brands. WaterWipes has set ambitious sales targets of €25 million) within five years, while Irish Breeze, the parent company of WaterWipes has ambitions to become one of JD.com’s key corporate strategic partners.
Chemical and Physical Standards producers Reagecon Diagnostics Ltd has finalised a distribution agreement with Beijing Thorigin over a five-year period, worth a total value of €10 million. The deal with Beijing Thorigin further embeds Reagecon in the Asia Pacific market, with existing distribution agreements in Singapore, Malaysia, Thailand, Vietnam, Taiwan, South Korea and China.
Solvotrin Therapeutics, a manufacturer of new and innovative healthcare and medicinal products has completed an exclusive distribution agreement with Shanghai Fosun Pharmaceutical for over €15m per year over three years. The deal will see the exclusive marketing of Solvotrin’s Active Iron in China. Shanghai Fosun Pharmaceutical is one of China’s leading pharmaceutical and medicinal products producers.
Air disinfection specialist Novaerus has secured an agreement with Hangzhou Door Import & Export, with €760,000 product purchasing over a three year period. Using advanced plasma technology developed in Ireland, Novaerus disinfection units eradicate all airborne viruses, bacteria, moulds and odours.
Other Irish companies showcasing under the Irish Advantage banner include; Hostelworld, Glen Dimplex, Emerald Green Baby, Cartoon Saloon, PM Group, Orbis and PPI.
Welcoming the deals announced today, Minister for Business, Enterprise and Innovation, Heather Humphreys commented that “The breadth and scale of these four landmark signings is a testament to the hard work undertaken by Irish companies and the support offered by the Government through Enterprise Ireland. Irish companies are winning business across international markets at an unprecedented scale and I would like to congratulate everyone involved on these latest successes. Our presence at CIIE demonstrates Ireland’s commitment to China and the wider Asia Pacific region, and I am delighted that we had such positive outcomes from our engagement at the event. I look forward to further developing these links with our Chinese partners in the coming years”.
Commenting on the new strategic partnerships, Enterprise Ireland CEO Julie Sinnamon highlighted that “As one of the world’s fastest growing economies, we see great opportunity for Irish exporters to build on existing trade links with China and to further develop our exporting market in the greater APAC region. Greater China is currently the fourth largest export market for Enterprise Ireland clients who achieved exports of €1.03 billion in 2017. Reflecting the market potential, we have our sights set on increasing this by 40% to €1.44 billion in exports by 2020. The CIIE event has been instrumental in promoting the strengths of Irish exporters to the Chinese market and today’s significant announcements reflect the scale of the opportunity for Irish exporters in China.”