i-SENS Expects Global Export Expansion with Completion of Songdo 2nd Factory
SEOUL, KOREA — Following the completion in March of their first glucose strip factory in Wonju, i-SENS (www.i-sens.com), a company specializing in glucometers, has announced the completion of their second factory within the bio complex in the Incheon Songdo Free Enconomic Zone. The Wonju factory has a production capacity of 1 billion glucose strips per year, and now the Songdo complex adds another 0.8 billion to that number with its large-scale manufacturing facility and also includes a research facility for new product development.
The glucometer, the main product of i-SENS, is recognized for its technological prowess and its advanced capabilities, being exported to 60 countries around the world such as the U.S., Europe, and Japan. As a result, it began production for a Japanese company ranked 5th on the global market, and the completion of the Songdo factory will now allow expansion in product supply.
A point to note is that this Songdo Factory features specialized facilities for research & development. The resources used to be dispersed at i-SENS headquarters and at the Wonju Factory so this new facility will allow augmented development for better quality and next-generation advancements. Even more, to allow more active research & development, the Songdo branch features equipment for prototype production which means it will help product testing.
Since 2010, the i-SENS glucometer has grown to become the third most popular product in the industry following Roche and Johnson & Johnson surpassing the sales of not only global companies such as Abbott, Bayer, etc. but also domestic manufacturers in the domestic market. While even global manufacturers are downsizing, i-SENS is gearing up with an astounding growth rate to take over second place in the glucometer industry even though it is known to have fierce competition.
i-SENS CEO Geun Sig Cha said that “The Songdo factory will be a base for an even greater sales growth and position i-SENS in a favorable position to experience a 2nd growth phase based on cutting-edge biosensor technology” and that “moreover, as the Wonju factory has in the Gangwondo region, the 2nd facility is expected to play a similar part in creating stable jobs in the Gyeonggido region.”
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