|GCMS CEO Kim Young-pil (left) and PT. Mitra Global Hanindo President Cho In-jae shake hands after signing a technology transfer agreement, at the former’s office in Yongin, Gyeonggi Province, Tuesday.|
GCMS said Wednesday it would export its blood pack manufacturing technology to PT. Mitra Global Hanindo.
The total contract value is 40 billion won ($36.9 million), equivalent to 46 percent of the company’s sales in 2016. In detail, the GCMS plans to supply 6.1 billion won worth of completed blood bag products and 30.7 billion won of blood pack part. Also, the company will receive 3.2 billion won in technology transfer fee and royalties. The contract will last until 2029.
Under the agreement, GCMS will supply completed blood bag products from the second half of this year and parts for blood pack manufacturing from the first half of next year. The company also plans to consult on PT. Mitra’s blood bag factory, set for completion next year.
PT. Mitra will become the only company in Indonesia to manufacture blood bags after finishing construction of its factory. In the future, The company plans to deliver the blood bags produced through the technology transfer of GCMS to the Indonesian Red Cross (PMI).
GCMS expects that such business diversification as long-term supply contract will lead to maximizing the company’s profitability in domestic and overseas markets.
“The contract is a project that demonstrates the superiority of GCMS’ 45-years of integrated blood bag manufacturing technology,” GCMS CEO Kim Young-pil said. “As more and more countries have been designating blood bag as a wartime supply item, the contract can contribute to the domestic production of blood bags in Indonesia.”