|Carlow Company Hi-Spec Announces New Joint Venture in Germany|
|Friday, 25 March 2011 12:33|
Carlow firm, Hi-Spec Engineering, has announced that it has formed a new joint venture with German company Europe Dairy Systems. Hi-Spec, which is based in Bagenalstown made the announcement in Dusseldorf during the St. Patrick’s Day visit of the Minister for Jobs, Enterprise and Innovation Mr Richard Bruton to Germany. The newly formed company, Hi-Spec Deutschland GmbH,allows Hi-spec to establish a permanent presence in Germany for the storage and distribution of products and parts, product presentations and dealer training.
The joint venture is expected to generate exports of €500k for the client in 2011. This is forecast to grow to €2.5m per year in three years. This will sustain the current 39 jobs in the company and create two more before the end of this year. Hi-Spec also expects that a further ten new jobs will be created in the Bagenalstown plant within the next three years.
Hi-Spec Engineering Ltd. is an Irish manufacturer of diet feeders for dairy and cattle farming. Established in 1988, the company has grown steadily and currently employs 39 staff. As a client of Enterprise Ireland, the company now exports into 15 countries.
Europe Dairy Systems is a Dutch company that distributes high quality and efficient dairy production systems in several European countries. The company is based in the Netherlands with a significant and growing base in Germany managed from its state-of-the-art premises in Seehausen.
Michael Nolan of Hi-Spec engineering said:
“This joint venture will represent a successful fusion of Europe Dairy Systems strong and growing market presence in Germany with Hi-spec’s well proven diet feeder range. This strategic alliance allows for the development of the Germany market enabling us to bring it to a new level of success.”
Congratulating Hi-Spec, Minister Bruton said:
“Germany is a market with strong potential for companies such as Hi-Spec that are developing and manufacturing, innovative, high-quality machinery. I wish Hi-Spec the very best in this strategic joint venture which will consolidate their position in the German market and allow the company to expand its presence in Europe. The growth that will arise from this joint venture will help secure jobs at home as they service their continuing international growth.”
Chief Executive of Enterprise Ireland Frank Ryan added:
“Hi-Spec is a prime example of a leading Irish manufacturer that is securing international success through a keen focus on innovation and quality. The company has already earned an international reputation for the high quality and reliability of their products. This joint venture is another important step in Hi-Spec’s ongoing internationalisation and Enterprise Ireland looks forward to continuing to work with the company to ensure their international growth and success.”
|Last Updated on Friday, 25 March 2011 12:43|