Post Time:Aug 13,2008Classify:Company NewsView:444
SOLON -- The opening of the Olympic Games in Beijing last weekend should open doors for many people and businesses in Northeast Ohio.
As a million dollar machine assembles panes of insulating glass together, the sound it makes is that of rush hour on the Road to China at Truseal Technologies in Solon.
The company makes the energy efficient spacers that go between panes of insulating glass, and they're making millions of them for China.
"We have exported nearly $100 million worth of product to China, so it's been a very energizing environment for us," says Gus Coppola, president of Truseal.
In a conference room with a large map of China behind him, Coppola explains that China builds the equivalent of a new city the size of Philadelphia every year and demands energy efficiency in all new construction.
He says Truseal meets that need and it has meant stability, employment, and profits for the Northeast Ohio company.
"With rising oil prices around the world and increasing consumption this is going to be more and more important and we recognize that," Coppola says.
"We have to do it right and we have to do it cost effectively and provide products that are required for various applications."
Truseal Technologies has been exporting to China for about ten years, but demand for their products is growing so quickly, the company is now building an 80,000 square foot factory near Shanghai just to keep up.
"Now that we're there, we're very thankful that we're there," says Coppola. "The business opportunities there seem to be extremely good and it will definitely be part of long term strategic plan for some time."
Ohio companies now export $1.5 billion dollars worth of products each year to China. That does not including products made in China by Ohio businesses.
"The rate of growth of exports from the state of Ohio to China are growing double digit rates that exceed most places in the world," says David Yen, former director of the World Trade Center Cleveland, and now an independent consultant to companies and investors doing business with and in China.
Coppola cannot envision his company without a substantial presence in China. He sees no downside. "It helps our business grow, and for our shareholders and our employees it provides a better future."
With the Beijing Olympics, the Truseal president anticipates even greater interest by local companies in the emerging Chinese market.
"I would encourage those companies that have products that they feel can be consumed in China that they shouldn't hesitate in working with the Chinese government and Chinese entrepreneurs," Coppola says.
Source: WKYC-TV Author: admin