China deal boosts Mark Goodman firm
A consultancy and investment firm established by Larry Goodman's son Mark made almost a €2.2m profit last year, according to accounts for the business.
MGI Marketing was established by Mark Goodman in 2004 and is owned entirely by him. Its activities are focused entirely on the Asia region. The firm had made a small loss in 2016.
One of its main investments is in the manufacture of safety equipment for meat factories, in conjunction with Shangyu Seeway, a Chinese company.
It manufactures cut-resistant gloves that are used in the meat processing industry as well as other sectors including construction and pharmaceuticals. It exports to almost 40 countries.
Mr Goodman founded MGI Marketing in 2004 when he was in college. He studied marketing at the Dublin Business School. He expanded the business after he first visited China in 2010. Mr Goodman is also managing director of the international division of food processor ABP, the business established by his father - one of Europe's largest beef processors which exports to countries all over the world.
Earlier this year, ABP secured the first contract to supply Irish beef to China since exports from Ireland to the country were blocked following the BSE crisis. ABP signed a €50m deal to supply Chinese restaurant chain Wowprime, which has more than 400 restaurants in China and Taiwan across 18 brands.
ABP said the contract would also extend to its joint-venture partners Slaney Foods, but it remains dependent on Irish beef gaining access to the Chinese market. Irish beef exports to China are expected to resume in the summer.