SEKO Logistics' core market investment strategy now includes the opening of its own operation in Ireland to serve multinational customers prospering in one of Europe's fastest growing economies.
According to the European Commission's Interim Economic Forecast, Ireland is likely to have recorded the highest GDP growth in the EU in 2018, estimated at 5.6% versus 2.1% for the region overall. This follows the country's strong momentum of 2017 when its 7.3% growth rate was three times higher than the Eurozone average.
As SEKO Logistics has expanded its presence globally in recent years, it has strategically invested in new facilities in key markets such as the UK, Hong Kong, Mexico City, New York and Chicago. Driven by the growing number of multinational companies operating in Ireland as well as increased consumer spending, it has also become a prime global trade market for SEKO's international clients. This latest investment, which includes the opening of a new office and warehouse facility based at Dublin Airport, Harristown, at the start of 2019, enables SEKO to support its existing customers and step up to meet future growth opportunities.
Michael Daly, Managing Director of SEKO Logistics in Ireland, said: "The amount of trade in and out of Ireland - accelerated by the strength of the Irish economy and the level of inward investment - makes Ireland the next logical step in SEKO's strategic investment development plan. Ireland is especially important to UK, European and US brands and that's why we are investing in our own facility and staff to give SEKO customers in Ireland and around the world the service, technology, visibility and support they need to optimise the potential of this dynamic country. We want to be fully invested here and recognized as a long-term partner."
Keith O'Brien, SEKO's Chief Operating Officer EMEA, added: "This is a natural extension of our growth in Europe and across our global network. In the last 12 months, we've opened major new facilities in London and Amsterdam, entered into a key strategic partnership with Hermes Germany and invested significantly to increase our presence in the US, Greater China and Mexico. This is helping us to keep pace with our customers' growth in these markets and will continue in 2019 as we proactively seek more opportunities to grow."
SEKO Logistics previously operated in Ireland through an agency partnership but is already firmly established as a successful and innovative brand in the market. In 2017, SEKO won the Technology Award in The Irish Logistics & Transport Awards for its delivery of innovative, cost-saving supply chain solutions for three leading global brands. Last year, it was also a shortlisted finalist in Ireland's prestigious Export Industry Awards in the 'Supply Chain Company of the Year 2018' category for accelerating its customers' export growth into new markets, its flexibility in managing changing market conditions, and for providing technology tools which give exporters unique visibility across their entire supply chains.
Establishing its own operation in Ireland provides SEKO with a platform to expand further in the retail, high-tech and medical device sectors, which are core customers of SEKO Logistics in Ireland and across the globe. Ireland's MedTech sector alone has become one of the leading clusters for medical device products globally. Exports of medical devices and diagnostic products now represent 8% of Ireland's total merchandise exports.
Ireland's thriving economy and business climate means it is also home to five of the top 10 companies on Forbes' list of The World's Most Innovative Companies as well as leaders in the aerospace, technology and software, industrial automation, and pharmaceutical sectors.
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