Zenith Tech­nolo­gies on course for €100m sales

The Irish Times - Business - - BUSINESS | NEWS - BARRY ROCHE South­ern Cor­re­spon­dent

Ir­ish-owned tech­nol­ogy com­pany, Zenith Tech­nolo­gies is on tar­get to achieve sales of over €100 mil­lion in 2019 af­ter reach­ing €85 mil­lion this year, ac­cord­ing to in­ter­nal fig­ures.

Re­sults just filed show the Cork busi­ness had a profit of €4.9 mil­lion in 2017 as sales grew by 12 per cent to €79 mil­lion.

The profit fig­ure was off­set by an ex­cep­tional pay­ment of a €5.7 mil­lion bonus to key ex­ec­u­tives as­so­ci­ated with a sig­nif­i­cant in­vest­ment stake in the com­pany by US in­dus­trial gi­ant, Gen­eral Elec­tric.

Zenith Tech­nolo­gies founder and ex­ec­u­tive chair­man Bren­dan O’Re­gan said the com­pany has seen sig­nif­i­cant growth in all its key mar­kets, in par­tic­u­lar in the US and China.

The Rin­gask­iddy-based pro­vides dig­i­tal and au­to­ma­tion in­te­gra­tion to its glob­ally di­verse Life Sci­ence cus­tomers, who now in­clude the top 10 Life Sci­ence com­pa­nies in the world. Its tech­nol­ogy sup­ports the process and tech­nol­ogy choices that cus­tomers make.

Last year, Gen­eral Elec­tric, through its sub­sidiary GE Health­care Life­sciences Hold­ing AB took a 30 per cent strate­gic in­vest­ment in Zenith, thus bring­ing the Ir­ish com­pany’s au­to­ma­tion ex­per­tise to GE Health­care.Zenith Tech­nolo­gies chief ex­ec­u­tive Joe Haugh said the GE in­vest­ment was cen­tral to the com­pany’s growth.

The busi­ness employs some 300 peo­ple in Ire­land and more than 500 peo­ple in eight other coun­tries.“As a com­pany we are well po­si­tioned for growth in a mar­ket that will de­liver sub­stan­tial op­por­tu­nity in the next few years driven by tech­nol­ogy ad­vance­ments and new med­i­cal treat­ments,” said Mr Haugh.

Bren­dan O’Re­gan: sig­nif­i­cant growth for com­pany in all its key mar­kets

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