BI Electrical Wins £20M China Agreement with Invest NI Assistance
Mallusk based BI Electrical Services has signed an agreement in China that could be worth around £20 million. The company has been assisted by Invest Northern Ireland in the development of its export business.
BI Electrical, a specialist in electrical engineering services, has signed a Memorandum of Understanding with Keenshine in Shanghai and has set up an office in the Chinese business centre.
The company’s success in China was announced by Ian Humphreys, Managing Director of BI Electrical Services, and welcomed by Michael Garvey, Invest NI’s Head of Asia Pacific, during a business reception in Shanghai for companies taking part in the latest Invest NI trade mission to the market.
Mr Garvey said: “This is an extremely significant and immensely encouraging development for one of our leading electrical engineering businesses in the world’s most dynamic marketplace, one we have been encouraging and assisting local companies to explore over many years.
“This announcement comes during what has been another highly successful trade and business mission and further underlines the benefits of developing relationships in China.
“China is fast becoming a hugely important market for local companies. Our visits are designed to showcase the expertise, quality products and services that our companies can provide and to support those businesses focusing on business there.”
The agreement represents a significant growth opportunity for BI Electrical and follows the successful establishment of a new operations centre in Shanghai.
Mr Humphreys said: “A strategic decision by the company, encouraged and assisted by Invest NI, to focus resources on China, nearly two years ago, is starting to pay dividends.
“Over the last two years, we’ve been building the relationships and getting the necessary licenses in place to be able to operate in the Chinese market.
“Our standing as one of the UK’s top electrical engineering companies has allowed us to enter the market with a strong track record for delivering high quality projects. Our partnership with Keenshine reflects our focus on building long-term relationships with industry leaders in the Chinese market. Invest NI has been a fundamental element to supporting our export growth strategy.”
The agreement is the result of a tri-party agreement between Keenshine, BI Electrical Services and its wholly foreign-owned enterprise, SBI Electrical operating in Shanghai, China.
Welcoming the new agreement Jack Zhang, President of Keenshine said: “This tri-party agreement significantly strengthens our capabilities. It also gives us an advantage to service our existing clients from China which are currently entering the UK and EU market through BI Electrical Services, one of the most respected names in the industry. We look forward to a long and fruitful relationship in the months and years ahead.”
BI Electrical Services will deliver testing, inspection and commissioning services as well as facilities management as part of its agreement in China.