Address by Mr Noel Treacy TD
Minister for Science, Technology and Commerce
at the Presentation of the Irish Exporters Association / AIB Capital Markets
Millennium Exporter of Excellence Award – IT Category
at the AIB Capital Markets Offices, IFSC, Dublin
on Thursday 27th January 2000 at 1.00pm

I am very pleased to present the Irish Exporters Association/AIB Capital Markets Millennium Exporter of Excellence Award in the I.T. industry to Mr. John Maybury, Managing Director of Eurologic Systems Group Ltd. I would like to take this opportunity to thank the Irish Exporters Association and AIB Capital Markets for inviting me here today to present this very prestigious award to this very highly regarded Irish exporter.

I am delighted to congratulate Eurologic Systems on their achievement in winning this coveted award which clearly confirms their creativity, innovation, and commitment to excellence. They have achieved remarkable success in the very demanding international marketplace and their entrepreneurship is an example to us all.

This award honours the exceptional achievement of Eurologic in winning sales and market share in overseas markets. I am delighted to be associated with this event which highlights the importance of export performance to the Irish economy and the very important role played by both the Irish Exporters Association and AIB Trade Finance Services in promoting the export performance of Irish businesses.

Eurologic was established in 1988 and is a leader in the design and manufacture of high availability, mission critical data storage products to Original Equipment Manufacturers, Vertical Market Resellers and strategic partners world-wide.

Today, its products are installed around the world and are sold and supported by a growing network of partners. These products are in use in a wide range of industries and applications and by a prestigious client base including many of the world's leading technology companies.

From the outset, Eurologic has been at the forefront of technology and has been quick to adopt and exploit emerging standards. This pioneering spirit, coupled with an unfailing commitment to excellence, customer satisfaction and quality, has enabled this great company achieve a very impressive growth rate.

Specialising in the design and manufacture of cutting edge data storage solutions since 1988, Eurologic, an ISO 9002 certified company, has emerged as a leading force in the data storage industry across the world.

An enduring commitment to innovation combined with a "partnership approach" has seen the development of long term relationships with leading Original Equipment Manufacturers, Vertical Market Resellers and strategic partners, and has formed the basis of the company's success to date.

Eurologic possesses world-class expertise in all aspects of data storage solution design and manufacturing.

Because of the increase of the 'knowledge society' the data storage market has grown by over 40% over the last number of years and will continue to grow in the future.

Employment in the software sector has increased to almost 12,000 people among Irish owned companies. The software sector continues to develop a range of innovative products ranging from end user applications to development tools and from advanced telecommunications software to multimedia systems.

A number of Irish-owned companies have become market leaders in test and control equipment, integrated circuit design and vision inspection systems. Successful Irish companies tend to target international niche markets, and these markets are now worth IR£300 – IR£500 million.

Sales in the sub-supply sector to the electronics industry were approximately IR£275 million in 1998.

Enterprise Ireland's policy has been to develop smaller companies to grow and to assist high potential new entrants into the market, so that they can avail of these niche markets.

Irish electronics companies are export-oriented, often supplying proprietary products and services to global customers. Some are showing the potential to become significant international players, creating the prospect of a new generation of companies, Irish-owned but multinational in scale and character.

Over the next few years a number of leading Irish companies in this sector are likely to seek public flotation, and may acquire smaller companies in related niche markets.

As Irish-owned electronics companies continue to grow, exciting opportunities and high calibre jobs in emerging world-class companies will be available to experienced industry professionals. Around 2,000 jobs will be created in Irish electronics companies over the next two years.

The Opportunity Ireland overseas marketing initiative – designed to attract skilled expatriates back to Irish industry – is helping to increase the availability of suitably qualified people, back home in Ireland.

International trade is central to the Irish economy today. Ireland is the most export-oriented country in the Euro-Zone. In 1998, our exports accounted for 94% of GDP.

Ireland's exports grew by 72% in the period 1994-1998, and this dramatic export growth – the highest in the OECD – is the primary stimulus of our overall economic growth and job creation.

Ireland's total merchandise exports exceeded £45 billion in 1998, the last full year for which statistics are available and this is a very substantial increase of 28% over the previous year. The latest export figures available, which are for January to August of 1999, show export growth increasing at 13%.

Ireland's merchandise trade surplus in 1998 was the highest level ever in the history of this state. The surplus broke all records and stood at £13.7 billion, a 45% increase over the 1997 performance. The surplus grew at a faster level during 1998 than ever before. The latest trade figures available, show Ireland's trade surplus is still increasing at a lower but still very substantial rate of 32%.

Eurologic is an excellent example of the type of company which is making Ireland's export success happen and by doing so they are providing excellent example to other Irish companies which is vitally necessary for the continuation of Ireland's success in overseas markets, as we enter a historic new millennium of boundless opportunity.