Cork-headquartered Zenith Technologies announced a deal with the Chinese division of Swiss multinational engineering company ABB to help develop manufacturing facilities that comply with China’s industry regulations.
The announcement was made yesterday during an Enterprise Ireland trade mission to China where Zenith global sales and marketing director, Stuart Richards, welcomed the deal.
“China has the fastest growing life sciences sector in the world. The pace of development and the potential of the market there present many operational and compliance challenges and our experience with the global sector is obviously seen as very convertible,” said Mr Richards.
The life sciences industry in China is estimated to be worth €500bn and is expected to continue its fast-paced growth, fuelled by economic growth and a growing middle class.
Zenith will provide technology solutions and platforms for the emerging industry, as well as specialised software and expertise.
Regulatory changes announced earlier this year, which include increased post-market supervision and escalated penalties for non-compliance with rules, have heightened the importance of compliance in the market, according to the company.
Speaking from Shanghai, Jobs Minister Richard Bruton said that Zenith is an example of the type of company the Government is looking to help.
“Zenith is a highly innovative company which has doubled its workforce in the past five years with the creation of an additional 200 jobs by rapidly growing its exports,” said Mr Bruton.
Following the ABB deal, Zenith, which has its headquarters in Ringaskiddy, Co Cork, now assists the top eight global multinationals in the life sciences sector.