SPAR Group Signs Joint Venture in India
SPAR Group Signs Joint Venture in India
Apr 07, 2004
SPAR Group Signs Joint Venture in India
"In line with our stated goal to expand our international operations, we are particularly pleased to establish a presence in the vibrant Indian economy," said Bob Brown, SPAR Group's chairman and chief executive officer. "We believe SPAR Solutions India is uniquely positioned through the application of SPAR Group's advanced technology and Solution Integrated Marketing Services' superior knowledge of the local market to bring highly measurable, cost-effective merchandising solutions to manufacturers and retailers in India."
SPAR Group, Inc. is a diversified international marketing services company, providing 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.
Solutions Integrated Marketing Services Ltd. is South Asia's leading marketing services company, offering a wide range of services to multinationals and Indian clients seeking to establish a stronger presence in the Indian sub-continent. Solutions has gained respect from clients for its comprehensive and integrated approach to clients' core marketing problems, as well as the breadth and depth of its infrastructure across the sub-continent.
"We believe that this joint venture allows us to offer state-of-the-art merchandising services to our clients who want nothing but the best," said Srikant Sastri, managing director of Solutions Integrated Marketing. "Our partnership with the SPAR Group gives us access to world-class technology and processes."
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 Indian 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 India, 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 Signs Joint Venture in India
TARRYTOWN, N.Y., Apr 7, 2004 -- SPAR Group, Inc. (SGRP) today announced the signing of a joint venture agreement with Solutions Integrated Marketing Services Ltd. of New Delhi, India. The new venture, in which SPAR will hold a 51% ownership interest, is expected to operate under the name SPAR Solutions India Private Limited and will provide leading-edge merchandising services to manufacturers and retailers throughout India."In line with our stated goal to expand our international operations, we are particularly pleased to establish a presence in the vibrant Indian economy," said Bob Brown, SPAR Group's chairman and chief executive officer. "We believe SPAR Solutions India is uniquely positioned through the application of SPAR Group's advanced technology and Solution Integrated Marketing Services' superior knowledge of the local market to bring highly measurable, cost-effective merchandising solutions to manufacturers and retailers in India."
SPAR Group, Inc. is a diversified international marketing services company, providing 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.
Solutions Integrated Marketing Services Ltd. is South Asia's leading marketing services company, offering a wide range of services to multinationals and Indian clients seeking to establish a stronger presence in the Indian sub-continent. Solutions has gained respect from clients for its comprehensive and integrated approach to clients' core marketing problems, as well as the breadth and depth of its infrastructure across the sub-continent.
"We believe that this joint venture allows us to offer state-of-the-art merchandising services to our clients who want nothing but the best," said Srikant Sastri, managing director of Solutions Integrated Marketing. "Our partnership with the SPAR Group gives us access to world-class technology and processes."
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 Indian 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 India, 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.
Contacts: SPAR Group, Inc.
Charles Cimitile, 914-332-4100
PondelWilkinson Inc.
Rosemary Moothart, 323-866-6038