QAD Continues Growth in Support of Manufacturers in Southwest China –
Latest Direct Office Opens in Chongqing
CHONGQING, China (Business Wire EON) April 29, 2008 --
QAD Inc. (NASDAQ: QADI), a leading
provider of enterprise software and services for global
manufacturers, today announced the opening of its fourth office in
China. In response to growing demand from manufacturers, QAD
has opened a new direct office in Chongqing, Shichaun Province. QAD’s
new Chongqing office will be focused on business development, customer
service and consulting services to address the needs of manufacturers
across the region. QAD is also launching the Chongqing Manufacturing
Executive Group, which will be a knowledge exchange platform for
manufacturing executives in leading manufacturing companies.
Chongqing is an important base for manufacturing, serving as a hub that
connects the entire southwest market of China. QAD started serving
Chongqing clients in early 2001. With local customers increasing, QAD
felt a strong need to set up a direct office in the region to help meet
the needs of existing customers and help QAD fully develop the market’s
potential.
QAD’s customers in the southwest region
include well-known manufacturers such as Chongqing Cummins, Chongqing
Lear and Chongqing Loncin. These leading companies have demonstrated
world-class implementations of enterprise
resource planning (ERP) software, as well as information management
experience. QAD is tapping into the local manufacturing expertise by
initiating the Chongqing Manufacturing Executive Group. The group’s
mission is to provide a knowledge exchange platform for local
manufacturing executives and assist them in their quest for innovative
breakthroughs that address economic environmental shifts and industry
trends. Through knowledge sharing, QAD hopes participants will see their
operational management reach a higher level.
Local QAD customers as well as government officials, concerned about
information management attended the opening ceremony. In the recent
past, ‘Made in China’
has becomes a hot topic. Remaining competitive in today’s
global marketplace means providing a quality product that meets a market
demand and comes with a cost-effective price. The government fully
promotes the use of efficient and modern manufacturing management
techniques and technology to achieve these goals. Therefore, local
government will heartily welcome investment from companies like QAD in
Chongqing because they bring international manufacturing expertise to
our region and will help us stay competitive in the global market.
“Manufacturing in the southwest China area has
strong potential,” said Mr. Miao Qing,
Managing Director for QAD China. “In recent
years, we’ve seen a number of innovative,
re-vitalized enterprises emerge. These companies, with government
guidance and support, have improved their ability to manage information
and use it to make strategic manufacturing decisions. QAD is determined
to grow with these local manufacturers, help them enhance their global
market competitiveness and provide ways to share knowledge so everyone’s
business can benefit.”
Inspired by the vision of ‘Best IT Partner of
China Manufacturers’, QAD China grew its
business by 30 percent in 2007. QAD China has formed strategic
partnerships with many large manufacturing enterprises such as Jinheng,
one of the largest automotive safety system manufacturers, and A.O.
Smith, an international electronic appliance producer.
About QAD
QAD is a leading provider of enterprise applications for global
manufacturing companies. QAD applications provide critical functionality
for managing manufacturing resources and operations within and beyond
the enterprise, enabling global manufacturers to collaborate with their
customers, suppliers and partners to make and deliver the right product,
at the right cost and at the right time. Manufacturers of automotive,
consumer products, electronics, food and beverage, industrial and life
science products use QAD applications at approximately 6,100 licensed
sites in more than 90 countries and in as many as 27 languages. For more
information about QAD, telephone +1 805 684 6614, or visit the QAD Web
site at www.qad.com.
"QAD" is a registered trademark of QAD Inc. All other products or
company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking
statements made under the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. A number of risks and
uncertainties could cause actual results to differ materially from those
in the forward-looking statements. These risks include, but are not
limited to, evolving demand for the company's software products and
products that operate with the company's products; the company's ability
to sustain license and service demand; the company's ability to leverage
changes in technology; the company's ability to sustain customer renewal
rates at current levels; the publication of opinions by industry and
financial analysts about the company, its products and technology; the
reliability of estimates of transaction and integration costs and
benefits; the entry of new competitors or new offerings by existing
competitors and the associated announcement of new products and
technological advances by them; delays in localizing the company's
products for new or existing markets; the ability to recruit and retain
key personnel; delays in sales as a result of lengthy sales cycles;
changes in operating expenses, pricing, timing of new product releases,
the method of product distribution or product mix; timely and effective
integration of newly acquired businesses; general economic conditions;
exchange rate fluctuations; and, the global political environment. In
addition, revenue and earnings in the enterprise resource planning (ERP)
software industry are subject to fluctuations. Software license revenue,
in particular, is subject to variability with a significant proportion
of revenue earned in the last month of each quarter. Given the high
margins associated with license revenue, modest fluctuations can have a
substantial impact on net income. Investors should not use any one
quarter's results as a benchmark for future performance. For a more
detailed description of the risk factors associated with the company and
the industries in which it operates, please refer to the company's
Annual Report on Form 10-K for fiscal 2007 ended January 31, 2008.
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