High End Power Tools Tame the Dragon

Media Release
22 June 2009

High End Power Tools Tame the Dragon

Albany based power tool manufacturer, Teknatool International, has fended off strong competition to take out the Supreme China Trade Award at the Cathay Pacific NZCTA Trade Awards 2009 last week (June 16).

Teknatool, encouraged by the prospect of the FTA, set up a manufacturing facility in China in 2005 to supply the China domestic and export markets. Its strategy to mix the best of NZ and Chinese business and design practices at its Qingdao facility impressed judges sufficiently to win it both the “Doing business in China” award, sponsored by Mondiale and then the Supreme Award.

Absolute Foods, BioVittoria, who had won the Supreme Award in 2007, and Zespri were the other category finalists, who went forward for the Supreme Award.

“We had a record number of applications “said NZCTA Chairman, Stuart Ferguson, “which doubtless reflects the recognition by New Zealand businesses that China continues to grow in importance as a global player and influencer on the world stage.”

The professionalism of the applicants, their recognition that entering China requires commitment and courage and their common need to absorb a few mistakes along the way impressed the nine judges.

“It was very hard to pick the winners out from the field,” Ferguson continued, “but Teknatool was the definitive case study of how to approach China - sound strategic thinking and, of course, ultimate success.”

The prize of $10,000 cash and two business class tickets to China flying on Cathay Pacific, was awarded to Teknatool by Trade Minister, Hon Tim Groser guest of honour at a celebratory dinner, attended by 300 members and guests.

David Figgins, country manager for Cathay Pacific in New Zealand, said that Cathay Pacific was “honoured” to be naming sponsor of the awards.

Said Mr Figgins: “It is encouraging to see that New Zealand exports to China are growing at such a healthy rate during a downturn, and that so many New Zealand companies are taking advantage of the recent Free Trade Agreement with China.

“China is, of course, also of strategic importance to Cathay Pacific as an airline and since Dragonair joined the Cathay Pacific group in late 2007, we have been able to offer one of the most comprehensive schedules to China from New Zealand.”

The Cathay Pacific NZCTA Trade Awards, in association with the Hong Kong NZ Business Association, are held every two years to celebrate New Zealand’s success stories in China.

ENDS

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