CIE Research Inc., a Prince Edward Island based electronic sign company, officially signed an agreement with a Polish company, Zaklady Elektromechanics S.I. "Elektra", today in Warsaw, Poland, to licence their technology for the next ten years. The deal was made official during the eight-day trade mission to Eastern Europe with Prime Minister Jean Chretien and Premier Pat Binns.
Expertise and contacts are essential when cultivating relationships on a global scale. During this recent trade mission, Island companies are proving that they have the expertise to compete in many sectors when it comes to the export market.
"Looking for new business opportunities in Poland was an Enterprise PEI idea that came about as a result of the export development work they are doing," says Pat Banks, CEO of CIE Research. "The country has a strong, growing economy and we are working with Elektra to license our technology. They will manufacture signs in Poland using our technology and a combination of our components and theirs."
Through trade development partnerships with established, new and potential exporters, such as CIE Research, Enterprise PEI's primary trade objectives are to increase the number of exporters on PEI, as well as increase the revenues exporters receive for their foreign sales.
"Government's support in the area of trade development provides Island companies, like CIE Research, with the extra support they require when entering new markets," notes Premier Binns. "By sharing the expertise we have within our province with new exporters, our businesses and communities benefit, creating new opportunities for both growth and employment."
CIE Research Inc. is an Island based microelectronics design company who has developed a patented operating system for the programmable electronic display industry. CIE's technology enables the cost effective manufacture of high speed, high resolution, full color display systems for graphic and video application.
Enterprise PEI, through the Canada/PEI Trade Development Centre, acts as a catalyst and focal point for the collection and distribution of information on export markets; export awareness, education, and training; market entry and development initiatives; and the provision of practical export marketing advice to businesses in Prince Edward Island.
After leaving Poland, the trade delegation will travel to Germany and the Ukraine where it is expected that more new agreements will be signed with Island companies.