Australian security monitoring solutions and CCTV specialist, Swann Communications has launched a new operation in Hong Kong in a bid to capitalise on the burgeoning security market in China, the Asia-Pacific region and throughout the globe.

Swann Global Ltd (HK) formalised its foundation with an inaugural board meeting on Friday, July 22 at the company's new office in Hong Kong International Airport's Tradeport complex.

According to company chairman, David Swann, the new Hong Kong company and its new office are key components in Swann's worldwide expansion strategy which is targeting 100% sales growth to US$45 million for the 2005-2006 financial year with similar growth targeted over the next 5 years.

"Opening an office in Hong Kong is paramount to realising our growth expectations in Asian and other global markets," Swann said. "For us to deliver the best quality support to our vendor partners and customers in the region we need to be there.”

"We can introduce significant intellectual property to the China market in areas such as logistics, quality control, product support and strategic direction. These are core competencies that will help us cement existing vendor relationships and develop mutually beneficial new ones. In fact, we have just signed a major partnership agreement with one of our key supply partners that will allow us to develop products on an exclusive basis for some of the world’s largest retailers.

"In addition, we are now in a far stronger position to take advantage of new product procurement, development and manufacturing opportunities that emerge going forward.”

According to Swann, the company has seen significant sales growth in its CCTV business as demand soars in today’s security-conscious climate. The deployment of CCTV surveillance systems is growing at an exponential rate throughout the world in an effort to reduce the problems of vandalism, crime and terrorism.

"This new member of the Swann Global family will be the hub of Swann's future international expansion. All of our suppliers and customers will benefit from us having a strong presence in China," Swann commented.