VanceInfo Launches Tianjin Campus
September 19 2008 - 9:17AM
PR Newswire (US)
TIANJIN, China, Sept. 19 /Xinhua-PRNewswire/ -- VanceInfo
Technologies Inc.(NYSE:VIT) ("VanceInfo"), an IT service provider
and one of the leading offshore software development companies in
China, today announced it signed an Investment and Cooperation
Agreement with Tianjin Economic-Technological Development Area
(TEDA), China. VanceInfo Tianjin, a subsidiary of VanceInfo
registered in TEDA, is positioned to be a major training and
delivery center for the company. VanceInfo has trained more than
500 interns and trainees in Tianjin since September 2007, and it
has acquired Tianjin-based clients in financial services and
pharmaceutical industries. Tianjin, the closest major city to
Beijing, is 100 kilometers southeast of the Capital of China. It
can be reached by highways from Beijing within 1.5 hours and by
high speed trains within 50 minutes. It has 55 universities and
colleges, including such well known names as Nankai University and
Tianjin University. In the Investment and Cooperation Agreement,
TEDA government agreed to provide support in training subsidies,
tax incentives and talent supply to VanceInfo. Mr. Chris Chen,
Chairman and CEO of VanceInfo, Mr. He Shushan, Chairman of
Administrative Commission of TEDA attended the signing ceremony.
Chris commented, "VanceInfo's business has been growing in full
gear. The investment in Tianjin to establish new competency centers
and training facilities will greatly enhance our delivery
capabilities. This is the latest move to implement our strategy to
develop operations in second tier cities near Beijing and Shanghai
to support our growth while controlling the costs. Leveraging the
talent pool available and the local government support, we believe
the launch of our Tianjin campus will add momentum to our continued
growth for the years to come." 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 2007 revenues,
according to International Data Corporation, or IDC, a leading
independent market research firm. 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. About TEDA As one of the 1st national level
development zones in China approved by State Council, Tianjin
Economic-Technological Development Area ("TEDA"), after 24 years
developing, has gained outstanding achievements and a reputation
for most efficient administration. According to Investment
Environment Evaluation for National Development Zones in China
conducted by Ministry of Commerce, TEDA has been leading in various
indexes for many years. Tianjin is authorized as one of the
Outsourcing Base Cities in China by Ministry of Commerce, where
TEDA is certified as the Outsourcing Model Area. With the trend of
adjusting and improving China's domestic industrial structures, as
the core area of Tianjin Binhai New Area of China, TEDA has
explicitly made outsourcing service a focus of its future
development. TEDA has proven track record of developing
manufacturing sectors in the region and it will now give similar
full support to outsourcing services sector. TEDA has planned
outsourcing services support programs with a fund of RMB 100
million. TEDA will support outsourcing services in terms of
subsidies for training, facilities, software, intellectual property
protection and funding. In addition, Tianjin Binhai Outsourcing
Park, which is located in TEDA, is invested jointly by TEDA
government and Dalian Software Park with a total area of 890,000
sq.m. and the office buildings, white-collar apartment, HR training
center, living facilities suitable for outsourcing and software
companies, in order to provide the most professional and reliable
infrastructure for the sector. 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. 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 September 19, 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. DATASOURCE: VanceInfo Technologies
Inc. CONTACT: Melissa Ning, Director, Investor Relations of
VanceInfo Technologies Inc., +86-10-8282-5330, or
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