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Old February 14th, 2008, 10:16 PM   #1
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Baltimore and International Business

I'm starting this thread to keep up-to-date with Baltimore businesses operating abroad, or foreign businesses operating in the Baltimore area. Increased business ties between Baltimore and foreign nations may some day yield more international nonstop flights from BWI, which is my main concern at this point.

Recently there have been a number of developments in the news--FTI and Under Armour gaining business in Europe, and Phillip's Seafood expanding in Asia (Thailand), just to name a few.

Here's news from today:

Under Armour inks deal to outfit Welsh Rugby Union
Baltimore Business Journal - by Ryan Sharrow Staff

Under Armour Inc. said Thursday its European footprint will expand by inking a deal to outfit the United Kingdom's Welsh Rugby Union.

The deal is a major coup for the fast-growing performance apparel company, which has been looking to boost its presence internationally.

British newspapers reported Thursday that the four-year deal with Welsh Rugby Union could be worth about $20 million.

Reebok, one of Under Armour's top competitors, had been the previous outfitter of the union.

In December 2006, Under Armour (NYSE: UA) struck an apparel deal with two United Kingdom professional sports franchises to become the official outfitter of the clubs.

The Reading Football Club -- football being what the United States calls soccer -- and the Sale Sharks.

The Reading Football Club, a member of the F.A. Premier League, was the first team in the popular league to ink a partnership deal.

Earlier in 2006, Under Armour signed a deal with the English Cricket Board to become the official outfitter for the English Test squad.

Under Armour opened a European headquarters in January 2006 in Amsterdam to help boost the company's sales and marketing efforts abroad.

The company also signed a deal last September with the National Hockey League's Toronto Maple Leafs that includes advertising rights throughout the Air Canada Centre during the team's home games through the 2009-2010 NHL season. Under Armour's signage rights include the arena's videoboard, the rinkboard around the ice, the team's Web site and game programs, and outside the team's dressing rooms.

The interlocking "UA" logo will not be displayed on the Maple Leafs' uniforms. But the sponsorship deal does designate Under Armour the official athletic performance apparel sponsor of the franchise.

http://www.bizjournals.com/baltimore...l?surround=lfn
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Old February 15th, 2008, 05:32 PM   #2
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I think the European travel restrictions expire in March. Southwest is suppose to go international. I think they may team with Ryanair or Ryanair will begin flying here under it's own name.

I think there is plenty of international dealings from this area. Medicine/healthcare, biotech, finance and software.
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Old February 15th, 2008, 06:38 PM   #3
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Yup. I think the Open Skies Agreement goes into effect on March 8. Ryanair has already stated that Baltimore will be one of its three US desinations (the other two will be Providence, RI and some other place that I can't remember at the moment). Unfortunately, I have heard that service won't begin until 2010, but one article I read mentioned the possibility of 8 pound flights between BWI and Heathrow. If Southwest, particularly, but Airtran as well, could get international routes in and out of BWI as well, it'd be a huge boost for the airport and region. Southwest has a growing presence in Philly and DC though too, don't they?
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Old February 15th, 2008, 08:42 PM   #4
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Yeah Southwest has said that they would (at first) work with another carrier to operate services to the rest of North America and eventually Europe from Baltimore or Philadelphia, based on statements made in these two respective areas.

In other rumors, Air Jamaica might be lightly expanding its services to Jamaica this summer with nonstops to both Montego Bay and Kingston. Their BWI-MBJ route was one of the best performing last year, apparently.
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Old February 15th, 2008, 08:54 PM   #5
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Here's the BBJ article about Phillips Foods in Thailand:

Phillips to spend $21M to beef up seafood operation in Thailand
by Julekha Dash Staff
1/11/08

Phillips Foods Inc. is pouring more than $21 million into growing its presence in Thailand, with a new seafood processing facility there that will eventually employ more than three times as many workers as its Baltimore headquarters.

The 150,000-square-foot plant -- roughly the size of a Wal-Mart -- marks a major expansion for the Baltimore company as it extends its global reach and derives more of its sales from finished food products that offer a higher profit margin than raw seafood.

The Thai plant would supply hotels, restaurants, cruise lines and grocery stores in Asia, Australia and Europe with seafood products, which could include crab soup, stuffed shrimp and crab cakes. Prepared foods for the U.S. market will continue to be processed out of its manufacturing facility in Baltimore, where Phillips employs 200.

The new facility will be built in two phases. The first phase will involve building a 60,000- to 70,000-square-foot facility to be completed in early 2009, Phillips CEO Steve Phillips said. The design for the first phase will be finished in four months, after which time construction will begin. The next phase will involve adding another 60,000 square feet to the Bangkok plant within three years. The privately held company expects the seafood plant in Thailand to pull in $20 million in its first year. Once the facility is completed, it could employ as many as 700 workers during peak production.

Phillips executives declined to say how the company will finance the plant's construction.

The new plant will produce what manufacturers dub "value-added products," which deliver better returns than commodities. In the case of Phillips, that means pinning growth more on breaded mahi mahi and less on crab meat.

Profit margins for value-added foods range from 8 percent to 20 percent, versus 1 percent to 3 percent for commodities, said Bob Goldin, an executive vice president with Technomic Inc., a Chicago food research and consulting firm.

For that reason, nearly all food manufacturers, including Tyson Foods Inc. and Hormel Foods Corp., have expanded their products to sell food that is flavored and marinated as opposed to raw meat, Goldin said. "Almost all companies are chasing the Holy Grail of value-added" foods, he said.

Five years ago, Phillips Foods derived little sales from crab cakes and other seafood sold to retailers and restaurants. Today 35 percent of revenue comes from value-added food, which includes delivering seafood to national chain restaurants and hotels, Phillips said. Company officials declined to disclose revenue.

Within three years, Phillips executives would like half of the company's food sales to come from value-added products because of their higher profit margins, Phillips said. The seafood company is counting on much of this growth to come from customers in Australia and Asia, where a growing middle class in India, Thailand and other countries possesses more disposable income and is hungry for new cuisines.

With its flagship Inner Harbor restaurant and iconic crab heralding its headquarters in Locust Point, Phillips is practically synonymous with Maryland seafood. But the company's footprint is global as it increasingly infuses Asian flavors into its seafood products. Phillips has been in Thailand for more than a decade, and the company owns and operates 11 seafood processing plants in Asia, including China, Vietnam, India, Indonesia, Malaysia and the Philippines. Three years ago, Phillips chose Bangkok as its headquarters for sales in Asia, Australia and the European Union. The Bangkok office employs 35 and houses sales, research and development and central manufacturing operations for the company's Asian-inspired prepared food products, called Asian Rhythms, which includes crab rangoon and shrimp spring rolls.

Phillips chose Thailand for its stable government, infrastructure and strict food safety standards, Phillips said.

"We've had a tremendous amount of success there," Phillips said of Thailand.

Phillips' expansion in Asia will help the state boost its own plan to increase trade with the region, said Robert W. McGlotten Jr., Maryland's assistant secretary for business development. The state hopes that Phillips can be an ambassador of sorts for the state of Maryland abroad so more Asian companies set up operations in Maryland, he said.

Though Phillips is not as big as other U.S. companies in Thailand, such as General Motors or Ford, its presence is important to the Thai economy that looks to derive more growth from food exports, said Thai Commercial Minister Kessiri Siripakorn. Free trade agreements with Japan, India and China have prompted Thai business and trade officials to become food exporters to the world markets. The nation sends $8 billion in seafood exports, including crab, shrimp and fish.

There is another, more personal reason for Phillips' Thai push. Steve Phillips is a fan of the nation's cuisine.

"I took a cooking course in Thai food," he said. "It's my favorite food."

http://www.bizjournals.com/baltimore...14/story3.html
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Old February 15th, 2008, 10:49 PM   #6
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Yeah they have operations in Philly and DC but they are minimal. US Airways rules Philly and I think United has a big hub at Dulles. I think a lot of international flights would do well from here if more airlines gave it a shot. Just so hard to compete with Dulles clout.
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Old February 16th, 2008, 06:07 PM   #7
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More Under Armour News

Hannover 96 soccer club to don Under Armour gear
Baltimore Business Journal - by Ryan Sharrow Staff

One day after inking a deal with a Welsh rugby club, Under Armour Inc. said Friday it will outfit a professional German soccer team.

Hannover 96 will don Baltimore-based Under Armour's performance apparel beginning in the German Football League's 2008-2009 season. The agreement will span through the team's 2011 season.

The deal for Under Armour (NYSE: UA) also includes advertising rights inside Hannover's AWD Arena -- which houses nearly 50,000 spectators -- and promotional rights.

Under Armour's deal will be budgeted within the company's marketing spending, which is between 12 percent and 13 percent of its annual revenue, said company CFO Wayne Marino in a news release. Terms of the deal were not disclosed.

"We see it as another authentic anchor point in the brand's growth in Europe," Marino said.

The Hannover deal is Under Armour's first with a professional soccer team in Germany.

On Thursday, Under Armour announced a deal to outfit the United Kingdom's Welsh Rugby Union.

Both deals are a major coup for fast-growing Under Armour, which has been looking to boost its presence internationally.

British newspapers reported Thursday that the four-year deal with Welsh Rugby Union could be worth about $20 million.

Reebok, one of Under Armour's top competitors, had been the previous outfitter of the union.
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Old February 16th, 2008, 08:04 PM   #8
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Well, it is good news. Considering the whole recession talk going on as of late.
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Old February 16th, 2008, 10:47 PM   #9
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I saw a BBJ list of foreign companies operating in the area a few editions back...A lot of the largest foreign companies with significant operations here were based in the Netherlands. Considering that, as well as the fact that Under Armour has an Amsterdam HQ for Europe, you'd think Northwest would finally start (or re-start, if KLM) that rumored BWI-Amsterdam flight!
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Old February 18th, 2008, 08:30 PM   #10
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Baltimore advisory firm opens in London
By Pauline Skypala, Financial Times

Published: February 18 2008 02:00 | Last updated: February 18 2008 02:00

Brown Advisory , an independent Baltimore-based investment advisory firm, has opened a London office in order to build a European fund range and presence.

It set up a Dublin-based Ucits structure in 2006 and has been marketing a US large cap value fund in Europe. It plans to launch a US smaller companies fund in the next few months.

"We want to build the brand, get the value fund over $100m (£51m, €68m) [from $32m currently], and get money into the small cap fund," said Logie Fitzwilliams, director at Brown Advisory. "Then we can look at where the opportunity is in the market and potentially hire investment staff. We want to build an investment hub [in London], not just a sales hub."

He said the firm last year started looking for partners to work with in continental Europe. It has met Interdin in Spain, which distributes funds for groups such as Jupiter Asset Management and Man Group, and Nordic distributor Intervalor, which works with Ermitage and New Star Asset Management.

http://www.ft.com/cms/s/0/dc0dfeec-d...0779fd2ac.html
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Old February 19th, 2008, 04:00 PM   #11
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In Baltimore Development LilMoeJoeJoe posted this regarding the end of North American Airlines' international services:

http://www.prnewswire.com/cgi-bin/st...4757939&EDATE=

I'm not sure it affects BWI all that much since flights in the past year have been operated via JFK. Maybe it'll open up the Lagos route to Virgin Nigeria...if the airline can get all its issues resolved. If anything, for now it seems like the loss of another regular widebody.
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Old February 19th, 2008, 10:15 PM   #12
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Seems like Delta and NW are merging. Delta will be the largest airline. I wonder if that will affect BWI's international service.
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Old February 19th, 2008, 10:20 PM   #13
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Md. officials tout '07 exports and strength in 'global marketplace'
Baltimore Business Journal - by Robert J. Terry Staff (2/19/08)

Maryland exports jumped 18 percent to $8.9 billion in 2007, state officials said Tuesday.

Canada was the top destination among the 200 foreign countries the state exported to, receiving $1.4 billion in exports. The United Kingdom, Germany, the Netherlands and Belgium totaled $1.6 billion in exports from Maryland.

"Maryland's record exports speak to the strength of our companies in the global marketplace, the quality of our products and our highly educated work force," said Gov. Martin O'Malley in a statement.

Maryland's exports to China increased by more than 40 percent to $446 million in 2007. Greater China (mainland China, Hong Kong, Taiwan and Macau) imported $732 million of Maryland products, making this region the state's third-largest export market, after Canada and Europe.

Maryland's 18 percent increase in exports in 2007 outpaced the 2007 national average of 12 percent, state officials said. Among the top 20 export markets for Maryland products, the fastest-growing markets included Spain, Mexico, United Arab Emirates, Australia and India.

A total of 3,575 companies exported goods from Maryland locations in 2005, according to the most current data available from the International Trade Administration of the U.S. Department of Commerce.

The majority of those companies, 86 percent, were small and midsize companies with fewer than 500 employees.

http://www.bizjournals.com/baltimore...l?surround=lfn
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Old February 20th, 2008, 10:36 PM   #14
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Royal Philips closes $427M deal to buy Visicu Inc.
Baltimore Business Journal - by Robert J. Terry Staff
(2/20/08)

The $427 million acquisition of Visicu Inc. by Royal Philips Electronics of the Netherlands closed Wednesday.

The deal brings together one of Greater Baltimore's fastest-growing public companies with one of the world's biggest makers of patient-monitoring technology used in hospitals.

Visicu's health care technology is used in intensive care units to monitor patients remotely. Company executives said in December when the deal was announced that Visicu would remain in Baltimore.

With the acquisition's close, Visicu stock, traded on the Nasdaq, is no longer listed on the exchange.

Royal Philips (NYSE:PHG) reported revenue of nearly $39 billion in 2006.

Visicu had revenue of more than $30 million in 2006, up nearly 65 percent from 2005 when the company reported revenue of just over $18 million. The company was Baltimore's fourth fastest-growing company when ranked by revenue growth from 2005 to 2006, according to Business Journal research.

Visicu, founded 10 years ago by two Johns Hopkins Hospital doctors, went public in April 2006.

http://www.bizjournals.com/baltimore...ml?jst=b_ln_hl
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Old February 21st, 2008, 03:47 PM   #15
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FTI buys firm that battles counterfeiting
By Jamie Smith Hopkins | Sun reporter
February 21, 2008


FTI Consulting Inc., a Baltimore company whose myriad services range from forensic accounting to business restructuring, said yesterday that it has bought a company that battles Chinese counterfeiters.

Thompson Market Services Ltd., based in Hong Kong, is an intellectual property and "brand protection" services firm that investigates the counterfeiter supply chain - from makers to exporters to cyber-traders - and coordinates with the Chinese government on raids. It also provides market assessments and consults on brand-protection efforts.

FTI did not disclose how much it paid or other key terms of the deal.

Thompson Market Services says on its Web site that it has carried out about 2,300 counterfeit raids since it was founded in 2004. It takes credit for 130 criminal convictions of "serious infringers." The company says the global exporting of counterfeit products has become a multibillion-dollar underground industry.

The players are sophisticated, and they're mass-producing, said Mike Slattery, senior managing director of FTI's international risk and investigations subsidiary.

"You actually have groups that will in many respects assume the identity or assume the brand - set up a manufacturing plant with a brand name," he said. "It can be almost anything: It can be computer products, semiconductors, pharmaceutical products. It's a very, very serious issue in certain industries."

The acquired company is joining Slattery's group, which helps multinational companies handle risk - from corporate fraud to politics. Thompson Market Services founder Bill Thompson and his senior management signed four-year employment agreements as part of the acquisition.

Slattery said FTI wants to expand the anti-counterfeiting services outside Asia.

"Latin America is very heavy into counterfeiting, as well," he said.

FTI's stock rose 121 percent last year, the biggest increase among Maryland-based companies, because investors expect the subprime mortgage debacle will mean good things for the company's restructuring business.


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http://www.baltimoresun.com/business...,5485393.story
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Old February 21st, 2008, 03:51 PM   #16
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McCormick buys Canadian honey company for $75M
Baltimore Business Journal - by Joanna Sullivan Staff
(2/20/08)

Talk about a sweet deal.

McCormick & Co. Inc. (NYSE: MKC), the Sparks spice company, said Wednesday it has acquired the shares of Billy Bee Honey Products Ltd. for $75 million in cash.

Billy Bee Honey, considered Canada's largest honey business with $37 million in annual sales, sold the shares in an auction, said Joyce Brooks, McCormick's assistant treasurer.

Brooks said the acquisition gives McCormick a strong complement to the savory products it already sells in Canada. Toronto-based Billy Bee is known for its honey-based mustards, sauces and salad dressing. It also sells Doyon brand products popular in Quebec.

"This is a leading brand of honey in Canada," she said. "We're really looking to expand the strong brands the company has geographically."

McCormick officials, in announcing the deal, said they expect the purchase to help earnings and the company's goal of 8 percent to 10 percent earnings per share growth. The deal was announced after the market closed Wednesday, so Wall Street didn't have a chance to react.

Alan D. Wilson, McCormick's CEO, said in a statement that Billy Bee Honey fit into the company's acquisition strategy. In November, the company announced it was buying the Lawry brand of sauces, marinades and spices.

The $75 million spent buying Billy Bee Honey is about eight times McCormick's EBITDA (earnings before interest, tax, depreciation and amortization) and will be financed through cash from operations and short-term lines of credit.

http://www.bizjournals.com/baltimore...l?surround=lfn
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Old February 22nd, 2008, 03:52 PM   #17
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pretty good articles overall.
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Old February 29th, 2008, 09:01 PM   #18
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FTI Consulting, Inc. Announces the Acquisition of TSC Brasil
Thursday, February 28, 2008; Posted: 05:10 PM

BALTIMORE, Md., Feb 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- FCN | news | PowerRating | PR Charts -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced that it has acquired TSC Brasil Limitada (TSC), the leading systems integrator and computer forensic and IT security consultant in the Brazilian and greater South American marketplace. Terms of the transaction were not disclosed.

Founded in 1999, TSC is headquartered in Sao Paulo. TSC is a leading provider of a full suite of digital risk management services, including IT security, computer forensics, and consulting services. The firm has developed an innovative new approach, "Digital Risk Management", which leverages its expertise across its various service areas to provide clients with a complete end-to-end solution to their computer risk management needs. TSC's client base includes a number of the region's leading companies, as well as multi-nationals doing business in Brazil and greater South America. TSC will be integrated into FTI's global business intelligence and investigations group, reporting directly to Frank Holder, Senior Managing Director in FTI's Forensic and Litigation Consulting (FLC) practice. Rinaldo Angelicola, Paulo Araujo and Eduardo Sanches of TSC have joined FTI as Managing Directors in the Company's FLC practice.

"TSC represents another excellent acquisition for FTI that further enhances our ability to help our clients in South America manage their enterprise risks," said Jack Dunn, President and CEO of FTI. "It will extend our eDiscovery platform into this large and dynamic market where we are experiencing dramatic growth driven by accelerated anti-money laundering and Foreign Corrupt Practices Act (FCPA) activity plus a growing number of cross-border assignments from domestic clients expanding into foreign markets. It will also complement the services we provide in our FLC practice, and will further enhance our dedication to providing our customers with the market leading technology to address their risk management and mitigation needs. TSC has excellent long-term growth prospects, a strong reputation in its market and domain expertise in the financial services sector."

"We see tremendous opportunity to leverage the respective capabilities and relationships of FTI and TSC," said Frank Holder, Senior Managing Director in FTI's Forensic and Litigation Consulting practice, "We have worked with TSC on a variety of matters for over five years, and know them well. Their capabilities, service offerings and clientele are complementary to our business, and their expertise in digital risk management within the prevailing legal systems will enhance our ability to mitigate the overall enterprise risks of our clients."

Rinaldo Angelicola, founding partner and Director of Business Operations of TSC commented, "We are very pleased to be joining FTI, who will enable us to take our business to the next level. FTI brings us the resources, additional services, access to clients and a worldwide platform to better service our clients in Brazil and now around the world."

About TSC Brasil

TSC Brasil, Ltda. is a digital risk management firm dedicated to helping organizations manage, protect and enhance the security of their digital assets through IT security services, computer forensics, systems integration, compliance and consulting services. With more than 70 professionals located in Brasil, TSC is one of the top firms in the country related to these issues. More information can be found at www.tscbrasil.com.br.

About FTI Consulting, Inc.

FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 2,800 professionals located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.

http://www.tradingmarkets.com/.site/...0News/1150253/
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Old March 11th, 2008, 09:22 PM   #19
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Baltimore, Ireland incubators teaming to help startups expand overseas
Baltimore Business Journal - by Scott Dance Staff

A Baltimore business incubator is moving forward with a new international partnership just in time for St. Patrick's Day.

The Emerging Technology Center, a city-funded facility for young technology companies, is working with a similar organization in Dublin, Ireland, to promote trade between the two cities. A new agreement will allow members of both incubators to open offices overseas.

Leaders of the Dublin Business Innovation Centre (DBIC) are in Baltimore this week to sign an agreement they hope will help companies from both countries establish international business.

"DBIC was very interested in collaborating with the ETC as they are well known for creating an environment in which like-minded startups can accelerate their potential," DBIC Chairman Hugh Governey said in a statement. "This is exactly the kind of atmosphere Dublin companies want to access when establishing a U.S. operation."

As part of the agreement, the companies will also have access to local advisory committees that will help guide the foreign companies to succeed in their new markets overseas.

"This collaboration will assist new and existing technology firms to expand internationally in physical space which can accommodate their unique needs, while receiving the business mentoring, technical, and networking services that traditionally have been provided by DBIC and ETC," ETC President Ann Lansinger said in a statement.

http://www.bizjournals.com/baltimore...l?surround=lfn
----------
Although it might not have helped much, it would have been nice to have this in place before Aer Lingus fled to Dulles. I heard late last year unofficial word that Aer Lingus was not performing as well as they hoped at Dulles...but that was earlier on. The situation may have improved since then.
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Old March 11th, 2008, 09:26 PM   #20
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Millennial Media eyes international demand for mobile advertising
Baltimore Business Journal - by Scott Dance Staff

Mobile advertising company Millennial Media Inc. is expanding its reach to Europe, the Middle East and Africa.

The Canton-based company, which develops interactive and display advertising for cell phones and other mobile devices, had recently said it planned for international expansion. The company landed a $15 million round of venture capital in November that CEO Paul Palmieri said would help fund the growth.

Millenial Media is tapping growing international demand for mobile advertising, executives said Tuesday.

"There is a tremendous growth opportunity for mobile advertising on a global basis, as evidenced by a rich and active mobile direct marketing industry, as well as surging demand from top brand advertisers," Palmieri said in a statement. "The mobile device and the mobile Web are powerful vehicles that are increasingly being used by marketers around the world. ... It's a natural progression to take our industry-leading networks and solutions global."

Several publishers Millennial Media works with, including MySpace Mobile Europe, Dictionary.com and Zannel, are already using the company's mobile advertising services in Europe and other parts of the world, the company said.

After the recent venture capital round, led by Boston-based Charles River Ventures, Palmieri said many of the company's partnerships were expected to move toward Europe.

http://www.bizjournals.com/baltimore...l?surround=lfn
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