SHANGHAI, China, March 18 /Xinhua-PRNewswire/ -- VanceInfo Technologies Inc. (NYSE: VIT), an IT service provider and one of the leading offshore software development companies in China, today announced the opening of a China Development Center (CDC) in Shanghai specifically designed for 3M China. In the newly established CDC, VanceInfo’s application development and IT services team will provide 3M China with IT services and consulting support for the group’s needs including eBusiness application development, data warehousing / business intelligence, and enterprise solutions.
China’s booming economy has encouraged the rapid expansion of many multinational corporations in the region. As a result, the demand for IT services has been increasing and has created new and promising growth opportunities for Chinese IT outsourcing service providers such as VanceInfo, one of the leading players in the IT services market in China.
VanceInfo designed the CDC specifically for 3M China with the goal of enabling the group’s IT department to support the rapid growth 3M is experiencing in China and the region. The CDC partnership demonstrates the significant inroads VanceInfo has made in providing IT consulting and services for the manufacturing industry in China. VanceInfo has built and currently operates CDCs for many multinational corporations in industries as varied as technology, telecom and manufacturing. This unique combination of CDC experience, technical expertise, and domain knowledge, has made VanceInfo an ideal partner for 3M in China.
Established in 1984, 3M China became the first foreign invested company in China outside of the Shenzhen Special Economic Zone. Today eBusiness solutions has become an integral part of 3M China’s internal and external business processes like product development, marketing, supply chain management, customer service, and human resource management. VanceInfo’s professional support is enabling 3M China to optimize operation processes and offer better service to its customers across diversified industries and market segments.
“VanceInfo is an excellent partner, and we are quite impressed by the outstanding quality of their work,” said Eric I. Sposeep, Head of IT Department of 3M China. “The new CDC VanceInfo has designed to serve 3M China will considerably boost the efficiency, performance, and flexibility of our IT services as we support 3M’s aggressive growth in China.”
Mr. Chris Chen, Chief Executive Officer of VanceInfo added, “Our collaboration with 3M China is a new milestone for VanceInfo’s IT outsourcing services for manufacturers. Our success with 3M China will enhance our technical capabilities for manufacturing clients and help us expand our footprint in the sector in the future. We are committed to providing first-class professional service to meet 3M China’s needs and to support its continuous growth in China as well as in the world.”
About VanceInfo
VanceInfo is an IT service provider and one of the leading offshore software development companies in China. VanceInfo ranked among the top three Chinese offshore software development service providers for the North American and European markets as measured by 2006 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, and globalization & localization. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and China, targeting high growth industries such as technology, telecommunications, financial services, manufacturing, retail and distribution.
Safe Harbor
This press 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 overall economic growth 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, including its registration statement on Form F-1. All information provided in this press release and in the attachments is as of March 18, 2008, 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.
