Expanded International Presence Aimed at Increasing Sales
WILMINGTON, MA--(Marketwired - Jun 6, 2013) - Implant Sciences Corporation (OTCQB: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced that it has opened a representative office in Shanghai, China. The new office, which will operate as American Implant Sciences, Shanghai Representative Office, better positions the Company to work closely with its current in-country distributors, identify additional new distributors, and enhance its understanding of the China market. Joseph Laskey, Area Vice President and General Manager, Asian Sales and Business Development, will lead the Shanghai office.
The office is located in the Changning district of Shanghai at Room 521, GIFC No. 1438, Hongqiao Road, Shanghai, China 200021. Shanghai was selected as the location given its status as a global city with influence in commerce, technology and transportation, and its proximity to Nanjing, the second-largest commercial center in China and Hangzhou, China's fourth largest metropolitan area.
"Having generated sales of $20 million to date, China is a very important market for Implant Sciences. We believe that having our own representative office in Shanghai to support our distribution network will help further increase our market share and revenues in the country," stated Implant Sciences' President and CEO, Glenn D. Bolduc.
"This is an opportune time for us to open a representative office. China has implemented a sweeping program to upgrade and outfit the security measures in new and expanded airports throughout the country. Given our track record of sales and a strong word of mouth reputation in the aviation security market in China, this is a significant opportunity for us," commented Dr. Darryl Jones, Vice President Sales and Marketing.
According to reports from the Civil Aviation Administration of China (CAAC), there are approximately 180 airports in China that are now being brought up to international standards, with more under construction. During China's 12th Five-Year Plan period, from 2011 to 2015, 56 new airports are scheduled to be built, 16 relocated and 91 expanded.
As with Apple,China holds the key for everyone's growth.IMSC also knows this.Shows me that management knows where the business is in the future.Buying more shares.
Sentiment: Strong Buy
They would not be opening an office in China if they didn't already know that there is/will be a HUGE further demand for our products there. Just like they would not have increased manufacturing space by 140% if they did not KNOW that they will need it soon. Perfect storm brewing.
See a pattern developing here? I sure do. Thanks for posting the new info (as usual).
Sentiment: Strong Buy
I realized that China was their biggest customer, but not 20 million worth to date. Seems like a no-brainer to open an office with the history of sales there and seemingly opening a new/upgraded airport every month. China is so damn big that they could easily match that sales figure in one large sale to the new airports.
Seems I just repeated what Fred added, cause I was too busy making coffee and taking my time. So I'll add this. They need someone in Brazil now. A huge market with the World Cup right around the corner and the Olympics in '16. The market over the next five years will be incredible and would be helpful to have a similar situation as they now have in China. Someone in Rio, knocking on doors. Fala Portugese?