FOR RELEASE: Friday, April 13, 2012
CONTACT: Mary Lehecka Nelson, Governor’s Office of Economic Development, 605.773.3301
South Dakota Businesses Benefit From China Trade Mission
PIERRE, S.D. – Two South Dakota companies have already seen results from a recent trade mission to China, according to Gov. Dennis Daugaard, who led the March trade mission.
“It was my expectation that our trip to China would produce measurable outcomes for our state and our businesses,” the Governor said. “I’m excited to announce that the trip was a success on both counts, advancing the economic interests of South Dakota and our businesses in future international trade.”
One of the companies that had successful negotiations in China was Kolberg-Pioneer, Inc., of Yankton, Gov. Daugaard said.
“Kolberg-Pioneer was selected as one of two companies vying for a contract to build dozens of aggregate plants over the next five years in China. A yet-to-be-named Chinese company purchased a 4500 VSI crushing plant as a test machine, and will make a purchasing decision in the next few months.”
The Governor said Lloyd Systems of Rapid City also had some success from the trip to China.
“Lloyd Systems was able to use the Gold Key Matching Service and this trade mission to secure at least four sales to Chinese companies,” he said.
The Gold Key program matches U.S. companies with foreign distributors and is administered by United States Commercial Service.
The other company on the trade mission, MASABA Mining Equipment of Vermillion, returned with a greater understanding of the opportunities China offers, the Governor said.
The South Dakota delegation joined North Dakota’s Lt. Gov. Drew Wrigley and the North Dakota Trade Office to complete South Dakota’s first trade mission, focusing on manufacturing and agriculture. The two state delegations pursued independent business opportunities, but met for a joint reception in Shanghai.
“North Dakota Lt. Governor Drew Wrigley is an excellent ambassador for his state,” Gov. Daugaard said. “I was honored to join him and the North Dakota Trade Office on my first trade mission. Our group learned a great deal from their expertise, and I look forward to further developing our partnership as we move forward with international trade.”
The Governor’s Office of Economic Development and the state Department of Agriculture will spend coming weeks following up with Chinese officials, companies and a Chinese group looking to invest in South Dakota businesses.
“Many states are leading trade missions overseas, particularly trips to China,” Gov. Daugaard said. “We see great potential for South Dakota and China to partner in both agriculture and manufacturing, and we look forward to continuing to cultivate the relationships we’ve made so far.”