SPAR Group Forms Joint Venture Partnership in Romania; New Agreement Part of SPAR's International Expansion Program
SPAR Group Forms Joint Venture Partnership in Romania; New Agreement Part of SPAR's International Expansion Program
Jan 04, 2005
SPAR Group Forms Joint Venture Partnership in Romania; New Agreement Part of SPAR's International Expansion Program
SPAR said it will hold a 51% ownership interest in the new entity, which will operate under the name, SPAR Marketing Romania, and will provide merchandising services to manufacturers and retailers throughout Romania. The pact follows similar agreements that were finalized in India and South Africa during 2004.
"As part of our strategic plan, the agreement will enhance SPAR's brand recognition and service offerings in a new area of the world," said Bob Brown, SPAR Group's chairman and chief executive officer. "I am confident that our technology and merchandising expertise will combine with our Romanian partner's knowledge of the local marketplace to form a winning team."
"As a proven international leader in our industry, SPAR is the perfect partner for our organization," said Allieu Kamara, CEO of Field Insights. "We look forward to bringing SPAR's state-of-the-art merchandising technology and services to progressive, growing companies in our region."
SPAR provides a broad array of productivity enhancing products and services to help Fortune 1000 companies improve their sales, operating efficiency and profits. The company provides in-store merchandising, in-store demonstrations, technology and research to manufacturers and retailers covering all product classifications and all classes of trade, including mass market, drug store and grocery chains throughout the United States and internationally.
Field Insights is a leading Romanian marketing services company, offering a wide range of marketing and fieldwork services for the benefit of both multinational and local companies throughout the country.
Certain statements in this news release are forward-looking, including, but not limited to, the company's and its joint venture's ability to successfully penetrate the Romanian market. The company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the successful implementation of the joint venture agreement, the economy in Romania, the continued strengthening of SPAR's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued technological superiority over its competitors, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information respecting certain of these and other factors that could effect future results, performance or trends are discussed in SPAR Group's annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time.
SPAR Group Forms Joint Venture Partnership in Romania; New Agreement Part of SPAR's International Expansion Program
TARRYTOWN, N.Y., Jan 4, 2005 -- SPAR Group, Inc. (SGRP), a diversified international marketing services company, today announced it has entered a joint venture agreement with Field Insights of Romania.SPAR said it will hold a 51% ownership interest in the new entity, which will operate under the name, SPAR Marketing Romania, and will provide merchandising services to manufacturers and retailers throughout Romania. The pact follows similar agreements that were finalized in India and South Africa during 2004.
"As part of our strategic plan, the agreement will enhance SPAR's brand recognition and service offerings in a new area of the world," said Bob Brown, SPAR Group's chairman and chief executive officer. "I am confident that our technology and merchandising expertise will combine with our Romanian partner's knowledge of the local marketplace to form a winning team."
"As a proven international leader in our industry, SPAR is the perfect partner for our organization," said Allieu Kamara, CEO of Field Insights. "We look forward to bringing SPAR's state-of-the-art merchandising technology and services to progressive, growing companies in our region."
SPAR provides a broad array of productivity enhancing products and services to help Fortune 1000 companies improve their sales, operating efficiency and profits. The company provides in-store merchandising, in-store demonstrations, technology and research to manufacturers and retailers covering all product classifications and all classes of trade, including mass market, drug store and grocery chains throughout the United States and internationally.
Field Insights is a leading Romanian marketing services company, offering a wide range of marketing and fieldwork services for the benefit of both multinational and local companies throughout the country.
Certain statements in this news release are forward-looking, including, but not limited to, the company's and its joint venture's ability to successfully penetrate the Romanian market. The company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the successful implementation of the joint venture agreement, the economy in Romania, the continued strengthening of SPAR's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued technological superiority over its competitors, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information respecting certain of these and other factors that could effect future results, performance or trends are discussed in SPAR Group's annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time.
Contact: SPAR Group, Inc. Charles Cimitile, 914-332-4100 or PondelWilkinson Inc. Roger Pondel, 310-279-5980