Business Growth Sparks Nutek’s Plans for New and Expanded International Facilities.
LAS VEGAS, Jun 25, 2003 -- (BUSINESS WIRE) --- Nutek, Inc’s. (OTCBB: NUTK) subsidiary Datascension, a leading data processing and market research firm, is currently evaluating expansion of its Costa Rica call center facility and the opening of a new overseas facility, for an additional 200 seats in its call center operations.
"Due to the tremendous growth of our Datascension call center services from new and existing customers, we are evaluating expanding our San Jose, Costa Rica facility by 100 seats and are in the planning stages for establishing a second international location,” said Murray Conradie, Nutek President and CEO. “Key factors in the decision process are the available government incentives and cost of labor. We believe the new facilities will enable us to handle growth of existing customer accounts and provide us with sufficient capacity for future growth through yearend 2003.”
One of the 15 largest market research firms in the world recently contracted with Datascension for several projects after completing a thorough evaluation of Datascension’s Costa Rica capabilities and facilities.
Since announcing three weeks ago that the Company is in discussions with two of the top 15 market research firms in the world, Nutek has now begun discussions with a third firm, which is also ranked in the top 15. “The three marketing research companies hold approximately 9% of the market share of this $5.5 billion industry comprised of over 180 market research firms worldwide.” (Source: American Marketing Association, 2002).
“The business from these three market research clients could potentially be several million dollars annually,” said Scott Kincer, Nutek COO. “With the continued growth we anticipate, we are taking the time now to carefully analyze and address our future facility and operational needs.”
In the past eight months, Datascension has increased its customer base by more than 80% and revenues from its top 10 existing customers increased by 128% over the past 10 months.
"The exciting opportunities presenting themselves now illustrate the success of our hard work in new business development,” stated Kincer. “The biggest market research companies are now approaching us regarding handling their business. In addition, clients are switching over to us from our competition in Canada and India due to our excellent service. Our focused efforts have positioned us to grow our market share and take the business to the next level.”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this press release are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and information relating to the Company that is based on the beliefs of the management of the Company, as well as assumptions made by and information currently available to the management of the Company. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. The Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
