Implant Production in Iran
DIO Corporation, a dental implant manufacturer, officially announced on June 13 that it has decided to buy 51 percent stake, or 15,300 shares, in DIO PARS CO.,Ltd., its subsidiary in Iran, for 1 billion won (US$851,789).
Starting business in Iran in 2007, DIO has sold dental implants in the Middle Eastern country for eight years after signing an exclusive dealership contract with Afrand Atlas in 2008. With the rapid growth of digital implant market, DIO and Afrand Atlas have established a joint venture in Tehran to locally supply digital solutions, including “DIO Navi”, and locally produce some implant products.
Accordingly, DIO has become the second Korean company which has a subsidiary in Iran, along with KT&G.
As a mid-size company, DIO expects to expand market power and boost sales by converting its indirect sales strategy through agency to direct production and sales strategy through its subsidiary.
The company, which currently exports digital dental implants to the U.S., Canada, Mexico, China, Japan and Taiwan, plans to sign a new implant supply contract in its two largest markets – China and the U.S. – by the end of the year. With such efforts, DIO is expected to increase overseas sales from 29 billion won (US$24.7 million) last year to 45 billion won (US$38.33 million) this year.