Two Chinese companies announce relocation to Maryland’s International Incubator and one renews contract
SHANGHAI, CHINA (June 2, 2011) – Governor O’Malley today joined Maryland companies – including RTKL and Martek Biosciences – as they signed deals with Chinese companies or educational institutions worth more than $45 million. One of the largest deals was Tasly Group, one of China’s leading biopharmaceutical companies, which the Governor announced earlier today will invest $40 million in a new U.S. operation in Montgomery County, marking the largest investment in Maryland by a Chinese company.
In addition, two emerging Chinese companies – Sunscape, a producer and supplier of new building materials and CellPath China, a life sciences company – announced plans to set up U.S. operations in Maryland’s International Incubator and DaSol Energy Science and Technology Co., a solar energy company, will renew its contract with the Incubator.
“Maryland’s diverse economy is well represented in these academic and business relationships,” said Governor O’Malley. “These agreements underscore the great potential for Maryland companies, colleges and universities in China, as well as the exceptional opportunities for Chinese companies in our State. By collaborating with our global partners, we can expand markets, share knowledge and expertise, and improve our quality of life for generations to come.”
“We are pleased to be working with such an esteemed Chinese company and believe that our strong partnership with COFCO demonstrates Martek's commitment to expanding our presence in the Chinese market,” said Steve Dubin, Martek CEO.
“These three companies have joined others at the Maryland International Incubator to become the newest members of the ever-growing foreign business community,” said Kai Duh, Director of the Maryland International Incubator. “Their decision to invest in Maryland proves again the State of Maryland is an attractive place to invest and conduct businesses. It has demonstrated the successful collaboration of DBED and University of Maryland, leveraging effectively the vast resources from a major research university for the Foreign Direct Investment Initiative. It will benefit the University community as a result of joint research projects that engage faculty and student members.”
Today’s agreements include:
· Columbia, Maryland-based Martek Biosciences Corporation (now a division of Royal DSM N.V.), a leading global innovator in the development of nutritional products, this week renewed its partnership with Fortune Global 500 company COFCO, for the use of Martek's signature product, life’sDHA™ in cooking oils and potentially other categories. Later this month, COFCO will launch a new consumer cooking oil product featuring Martek’s life’sDHA, a sustainable source of DHA omega-3 for brain, eye and heart health. The first product featuring life’sDHA, Fortune Natural Grains Blended Cooking Oil, was successfully launched in 2010 and was the first DHA-supplemented cooking oil on the Chinese market.
· Baltimore, Maryland-based RTKL, a global design firm, will provide design consulting services to Beijing United Family Hospital.
· Maryland’s Towson University will provide a faculty training program and school management services for Pudong Educational Bureau.
· Baltimore, Maryland-based Wall Street Institute School of English will initiate an English language training program for the Shanghai Police Academy.
Maryland has long maintained a strong presence in China, becoming the first U.S. state in 1996 to open a trade and investment office in China – the Maryland China Center. In 2010, China was Maryland’s 3rd largest export market with $571 million in goods and services, and was the State’s 2nd largest import market, with more than $2.6 billion. There are 13 Chinese headquartered companies in Maryland, including U.S. Orchids, an orchid propagation company in Somerset County; Electrical Systems Integrator, an electric tools developer and supplier to Stanley Black and Decker in Baltimore County; and Yisheng U.S. BIOPHARMA, a biopharmaceutical company in Montgomery County.
Maryland is well-positioned for growth in the global market, with more than 300 foreign-owned companies from 30 countries currently calling Maryland home. Roughly 105,000 Marylanders, or 3.5 percent of the workforce, are employed by foreign-owned firms, with companies headquartered in the Netherlands, United Kingdom and Germany as the top three foreign employers in Maryland.
Maryland’s Office of International Investment and Trade works to stimulate foreign direct investment in the State, offers export assistance for small and mid-sized Maryland companies and coordinates international trade and investment missions and trade show opportunities for Maryland companies. For more information on resources available to business that want to market their products or services globally, visit www.choosemaryland.org.