[Public Notice+] Nanomedics Signs Large-Scale Supply Contract with Philippine Fire Department... "Countdown to Achieving Cumulative Sales of 45 Million USD"

[Asia Economy Reporter Yoo Hyun-seok] Nanomedics announced on the 29th that since starting its first supply contract in November 2018, it has been continuously securing supply contracts from the Philippine Fire Department, with the order amounts gradually increasing.

Nanomedics explained through a public disclosure on the same day that it has signed a supply contract for large fire pump trucks with JROG Marketing and the Philippine Fire Department. This order is a large-scale contract worth approximately 12.6 billion KRW (10 million USD) to supply 64 large fire pump vehicles, which amounts to 44% of the sales in 2018.

Nanomedics began full-scale sales activities in the Philippine market in early 2018 and secured orders worth about 13 billion KRW last year. By signing this contract worth 12.6 billion KRW, Nanomedics’ market share in the Philippines is gradually increasing.

A Nanomedics official stated, “As the quality of Nanomedics products already delivered has been verified, the volume of orders has significantly increased, and we expect to easily achieve cumulative sales of over 45 million USD by the first half of this year.” He emphasized, “An additional order worth 30 billion KRW is scheduled in the first quarter of this year, so we expect to achieve cumulative sales of over 45 million USD within just two years of market entry.” He added, “Nanomedics has established a new business plan with Philippine suppliers to increase its market share in the Philippine fire special-purpose vehicle market and aims to secure orders exceeding 100 billion KRW in the future.”

Nanomedics has focused on overseas sales since 2016 with the goal of becoming the number one in the Asian market. Targeting to be the top special-purpose vehicle manufacturer in Asia, it is expanding its market presence not only in the Philippines but also in Laos, Sri Lanka, Vietnam, and Indonesia.

This content was produced with the assistance of AI translation services.