06 Nov 2018 | 10.43 am
China Warms To Irish Breeze Water Wipes
Enterprise Ireland trade mission to China
06 Nov 2018 | 10.43 am
Irish Breeze, Reagecon, Solvotrin Therapeutics and Novaerus have agreed sales deals with Chinese partners at the inaugural China International Import Exhibition, the world’s largest trade exhibition.
Business minister Heather Humphreys (pictured) is leading the six-day Enterprise Ireland trade mission to China, during which nine Irish firms are showcasing their wares.
Irish Breeze’s deal with JD.com has potential for sales of €25m over five years for the company’s Water Wipes product.
In other announcements, Reagecon Diagnostics said it has agreed a distribution agreement with Beijing Thorigin that could be worth up to €10m over five years. Reagecon already has distribution agreements in Singapore, Malaysia, Thailand, Vietnam, Taiwan and South Korea.
Solvotrin Therapeutics has inked a distribution deal with Shanghai Fosun Pharmaceutical for Active Iron that has potential for €15m in sales over the next three years.
Air disinfection specialist Novaerus has secured a deal with Hangzhou Door Import & Export that calls for up to €760,000 product purchasing over three-year period. 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.
Humpreys commented: “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.”
Greater China is currently the fourth largest export market for Enterprise Ireland clients who achieved exports of €1 billion in 2017. Enterprise Ireland believes this can be raised to €1.4 billion in exports by 2020.
Global Shares has linked up with Huanying International. The aim is to provide Employee Share Ownership Plan administration and the deal could be will be worth circa $15m over the next five years. Global Shares is opening of a new office in Beijing, following the official launch of its Hong Kong Office earlier this year.
Know Your Customer has agreed a deal with Neat.
Over 20 Irish fintech companies are active in the Hong Kong market including Fexco, Daon, CurrencyFair, Intuition Publishing, Fenergo, Fineos, Tax Back International, Corvil, and Financial Risk Solutions.