BEIJING, Sept. 28 /PRNewswire-Asia/ -- VanceInfo Technologies Inc. (NYSE: VIT) ("VanceInfo") an IT service provider and one of the leading offshore software development companies in China, today announced it has entered into an agreement to establish an offshore development capability in Shenzhen, China for Cathay Pacific Airways Ltd. ("Cathay Pacific"), one of the world's most successful airlines.
The offshore development capability will be used to provide a variety of IT services and solution expertise in support of Cathay Pacific's future business direction and address its expected growth initiatives. VanceInfo will help Cathay Pacific deliver development and enhancement services for the client's airline information systems including passenger and cargo services, flight operations, and corporate and administrative functions.
"The engagement of VanceInfo in our information technology landscape is an important component of our operating model," said Tomasz Smaczny, Director and CIO of Cathay Pacific. "We look forward to working with our new partner, VanceInfo, on delivering technology solutions that support our world class service."
"We are pleased to be selected as an offshore partner for Cathay Pacific following a rigorous process that included not only our local competitors here in China, but also leading global IT service providers," commented VanceInfo Chairman & CEO Chris Chen. "We will leverage our unique position in China to provide IT services and solutions that enable Cathay Pacific to address their current IT projects and support sustained future business growth both in China and around the world. We look forward to building a strong long-term strategic partnership with Cathay Pacific."
About Cathay Pacific Airways
Cathay Pacific Airways is a Hong Kong-based airline offering scheduled passenger and cargo services to some 120 destinations in Asia, North America, Australia, Europe and Africa, using a fleet of 128 wide-body aircraft. The company is a member of the Swire group and is a public company listed on the Hong Kong Stock Exchange. Dragonair is a wholly owned subsidiary and Cathay Pacific also has a 60% stake in AHK Air Hong Kong Ltd, an all-cargo carrier operating regional express freight services. Cathay Pacific has made substantial investments to develop Hong Kong as one of the world's leading global transportation hubs. The airline is a founder member of the oneworld global alliance.
About VanceInfo
VanceInfo Technologies Inc. is an IT service provider and one of the leading offshore software development companies in China. VanceInfo was the first China software development outsourcer listed on the New York Stock Exchange.
The Company ranked number one among Chinese offshore software development service providers for the North American and European markets as measured by 2009 revenues, according to International Data Corporation.
VanceInfo's comprehensive range of IT services includes research & development services, enterprise solutions, application development & maintenance, quality assurance & testing, globalization & localization and other solutions and services. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and Greater China, targeting high-growth industries such as technology, telecommunications, financial services, travel services, manufacturing, retail and distribution.
Safe Harbor
This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, should, expects, anticipates, future, intends, plans, believes, estimates, and similar statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include, but are not limited to, the company's dependence on a limited number of clients for a significant portion of its revenues, the economic slowdown in its principal geographic markets, the quality and portfolio of its services lines and industry expertise, and the availability of a large talent pool in China and supply of qualified professionals, as well as the PRC government's investment in infrastructure construction and adoption of various incentives in the IT service industry. Further information regarding these and other risks is included in VanceInfo's filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in the attachments is as of September 28, 2010, and VanceInfo does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
