Enterprise Ireland today welcomed the signing of a product licensing agreement between Inishowen Engineering Manfacturing Ltd of Drumfries, Donegal and  McFadden Enterprises of Kerrykeel, Donegal.  The agreement gives Inishowen manufacturing and marketing rights to an innovative underwater lamp developed by John McFadden.  The lamp will be used in the marine industry, particularly in the fish farming sector where underwater lighting is a critical component of the fish rearing cycle.

The agreement is an exclusive international licence enabling Inishowen to penetrate export markets in Europe, North and South America, Japan and Australia.   Michael McKinney managing director of  Inishowen estimates that "this product has the potential to generate sales of €3m over 3 years with 60% of sales coming from export markets."

The agreement was assisted by Enterprise Ireland through its TechSearch licensing service and supported  under the Productivity Improvement Fund.  Jim Cuddy, manager of the TechSearch service said "the licensing route is a very cost effective way to acquire products for manufacture and export.   Using the Productivity Improvement Fund provides the financial support to help companies like Inishowen ramp up their export activity."

Press Release Issued Thursday 6th July 2006

Further information from Jim Cuddy, Enterprise Ireland, 087 2995759