The exclusive agreement allows Tritech, Inc. to extend Hanil's life science product distribution in North America after achieving over 80% market share in South Korea.
Hanil Science Industrial has been the leading scientific and laboratory equipment manufacturer in Asia for research, testing, clinical and educational institutions since 1958. Hanil has recently opened a new corporate research and development center where state-of-the-
"The market for high-quality lab instrumentation is growing dramatically as more institutions expand their laboratories and departments,"
Hanil is eager to enter the North American market where companies and educational institutes spend on average of $21 billion per year on laboratory supplies in the United States alone. Hanil and Tritech are set to introduce a range of precise lab instruments which will compete against manufacturers like Beckman-Coulter and Thermo Scientific. Circo points out that "breaking into a market against industry leaders who for the past 60 years have controlled the lab equipment market will certainly be challenging, but Hanil's quality and product offering match or exceed that of their overseas competitors."
About Hanil Science Industrial:
South Korean-based Hanil Science Industrial is one of the leading manufacturers of life science instrumentation for research, educational, and clinical institutes. Hanil has consistently produced records sales in South Korea within the biotechnology, medical, agriculture, and life sciences industries. Currently, Hanil enjoys over 80% market share in South Korea and continues to expand throughout Asia.
About Tritech, Inc:
Maryland-based Tritech, Inc. is one of the most prominent suppliers and service providers of life science instrumentation in the United States. Recognized research and educational institutes such as Yale, Harvard, and Penn State have relied on Tritech for after-sales support of the complex equipment since 1987. Today, Tritech continues providing the highest-quality equipment and on-site support while reducing costs for its customers across several different industries. For more information on Tritech, Inc. or its offerings, please visit http://www.tritechinc.com