‘The US office will play a key role in establishment of new contacts and customers in Latin America’
Ideal Cures has recently opened a representative office in the US to augment its global reach to the Americas. Suresh Pareek, Managing Director, Ideal Cures speaks to Sachin Jagdale about the new venture in the US
What will be the key responsibilities of your newly opened US office?
The key responsibilities of our newly opened US office will be to expand our business footprint in the Americas by building an organisation to support customers in Canada, the US, Mexico and Latin America. Business development strategies from a global perspective will also be a key responsibility along with working closely with the head office in India and satellite offices in Europe and Israel.
Where in US has the office been opened?
The office is opened in the Greater Philadelphia Area.
What will be the employee strength?
Initially, we will recruit people to manage the application labs and then build a full-fledged manufacturing workforce, so we plan to start with a few people (three to five) and then expand to support the customers’ need and demand.
What are your current business figures in the US market? How will your US office help augment these figures?
We have many companies who are our customers in Asia and Europe but we are not supplying our products to these companies in the US. Once they are aware of our services in the US, they will start considering us seriously for their requirement in the US markets and this will eventually help in our growth. The US office will further play a key role in establishment of new contacts and customers in the Latin American countries.
Ideal Cures has a well-developed market in Asia and Europe compared to the US market. Why so?
We first established ourselves firmly in India and neighbouring countries and then expanded to rest of the Middle East by establishing an office in Israel. Next, we targeted Europe where we already had a tech team and an application lab to support customers. It usually takes three to five years of developmental activities and support to customers for getting a firm hold in the market. The Europe office started in 2009 and since it is well established now, we decided to expand to the Americas.
When do you plan to start construction of the manufacturing plant in the US? Which products will be manufactured in the new facility?
We expect to have manufacturing capabilities within the next two to three years with application lab support available within a year. Ideal cures will offer all its products to the industry, based on the regulatory climate in each country and will lead with our flagship Instacoat ready to use film coating systems.
Which markets will the US plant cater to?
The US plant will cater to both North and South America.