Analysing a market for international export growth
The award recognises the fact that BioTector, which manufactures online liquid analysers, increased sales by 45% over the last 12 months.
“Over the last four years, we have grown turnover by 168% and now have over 1,200 installations in 47 countries worldwide,” says its chief executive, David Horan.
Serving oil and gas industries, pharmaceutical and chemical companies in addition to the food and beverage sectors in the US, Europe, Asia and the Middle East, BioTector has an extensive customer base which includes Shell, ExxonMobil, Dow Chemical, Pfizer, Glanbia, Coca -Cola, Mars and Samsung.
Significant events for the company over the last 12 months have included the signing of a contract with a distribution partner in the Middle East.
Yokogawa Middle East and Africa will supply BioTector products to 12 countries and Mr Horan estimates that this will be worth €5m in revenue over the next five years.
Located at Ringaskiddy, the company employs a staff of 37 and is recruiting with a view to taking on four new staff by mid-January.
“We expect to grow the staff size to 43 by the end of 2014 and are targeting an 18% increase in turnover,’ says Mr Horan.
With a strategic focus on developing sales in the Middle East and growing BioTector’s presence in the food and beverage sector internationally, he is targeting an ambitious growth rate of 95% over the next three years.
BioTector was originally set up in 1995 by Mr Horan’s parents, Martin and Nancy.
Company chairman Martin Horan had identified a gap in the market for a reliable analyser.
Patenting technology in 2000, the company began by selling to the petrochemical industry in Texas.
“Our groundbreaking technology has now become recognised as a leading product worldwide. It is a market leader in the US and we aim to establish it as a market leader in the Middle East in the next three years,” says Mr Horan.
BioTector analysers monitor process wastewater to highlight areas for increased efficiency, sustainability and profitability.
Mr Horan says the key selling point for the technology is improvement in operational efficiency and reduction in plant costs.
“For example, in the dairy industry we have seen that BioTector can reduce product loss by between 15% and 40% and our clients tell us that they see a return on their investment in three to six months.”
Since 2010, BioTector has adopted an aggressive international marketing strategy and has worked on developing a network of distributors to sell and support its product internationally.
In 2010, it signed an agreement with Hach, a US-owned global manufacturer of monitoring equipment, through which BioTector’s products are sold in the US, Canada, South America, Europe, China, Japan and Taiwan.
The agreement with Yokogawa has now expanded the company’s global reach and brought the number of global distributors to 11.
A product leader award in 2012 from Frost & Sullivan — a US-owned global consulting company which analyses technology — was a huge boost to sales.
“Winning was a key milestone and confirmation that we are the market leader in the US, with 25 to 30% market share.”
The US is currently BioTector’s largest market, accounting for 22% of sales, although Mr Horan says it is likely that the Middle East may overtake it during the next three or four years.
As part of the growth plan, BioTector adopted a new marketing strategy in 2012. Previously, the company had emphasised the functions the analyser could perform, but Mr Horan says it has now realised that it is more effective to tell potential customers what commercial value and operational savings they can achieve.
“The message that it can reduce product losses by between 15% and 40% works well, especially with the dairy and beverage industries. We are now targeting corporate level and plant managers in addition to personnel responsible for environmental control.”
BioTector is continuing to invest heavily in R&D and has spent €2.3m on new product developments since 2008. “In 2013, 40% of our turnover came from products that have been developed in the last three years,” says Mr Horan.
He says the outlook for 2014 is bright.
“With BioTectors installed in five of the top 10 international dairy processors, we are working on furthering our sales to the food and beverage industry.
“In Ireland, we sell to Dairygold, Carbery, Kerry Group and Glanbia and our aim now is to develop a dairy strategy which will allow us to replicate internationally what we have done in Ireland.”
Mr Horan was particularly pleased to accept the Irish Exporters’ Award for best manufacturing exporter. “It tells us we are doing the right thing, that our sales strategy is effective, that we are targeting the right industries and making the right decisions.
“It also gives the team a great boost to start the new year,” he adds.
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