Four Irish companies backed by Enterprise Ireland have signed new strategic partnerships with Chinese firms worth more than €50m.
The deals involving the Irish enterprises Irish Breeze, Reagecon, Solvotrin Therapeutics and Novaerus were announced at the inaugural China International Import Exhibition (CIIE).
The companies announcing new deals today include healthcare, skincare, medtech and diagnostics specialists.
Irish Breeze, a provider of dermatologically friendly skincare wipes Water Wipes, has signed a deal with JD.com, China’s largest e-commerce market and retailer hosting more than 20,000 international brands.
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.
Solvotrin Therapeutics, a manufacturer of new and innovative healthcare and medicinal products has completed an exclusive distribution agreement with Shanghai Fosun Pharmaceutical for more than €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 a lucrative 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.
Nine Irish companies backed by Enterprise Ireland are attending the event in Shanghai and they 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 said: “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”.
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.
She said: "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.”