Helsinki/Bangalore August 21, 2008
Wipro Infrastructure Engineering and Cargotec Corporation have entered in to a long term partnership agreement for supply of Hydraulic Cylinders.
As a part of the agreement, Wipro will supply Hydraulic Cylinders to multiple facilities and products of Cargotec. Wipro and Cargotec will partner in engineering, product development and technology initiatives in the area of Hydraulic Cylinders, to drive the continuing leadership of Cargotec’s Material & Cargo Handling Solutions. Wipro has been a key supplier of Hydraulic Cylinders to Cargotec for the past several years.
Mr. Lauri Björklund, Senior Vice President, Production and Purchasing for Cargotec Corporation said
“Our leadership is driven by Innovation and Quality, and a partnership of this nature with Wipro will be a key driver of those dimensions. Wipro has been an important long-term partner for us, and we look forward to deepening this relationship.”
Mr. Anurag Behar, Chief Executive, Wipro Infrastructure Engineering said,
“Cargotec is a great customer and partner for us. We are excited by Wipro and Cargotec collaborating to drive Innovation and Technology. We will work with our customers across product lines and geographies.”
Wipro Infrastructure Engineering (a division of Wipro Limited: NYSE WIT) is a Global leader in precision engineered Hydraulic Cylinders. These Cylinders are critical components in Construction and Earth Moving Machinery, Material & Cargo Handling Equipment, Heavy and Medium Commercial Vehicles, Farm Equipment and various Industrial Solutions. Wipro manufactures these high Quality components in its 5 facilities across Scandinavia and 3 facilities across India.
Cargotec is a Global Leader in Cargo and Material Handling Solutions. It has operational presence and deep customer equity across Americas and Western Europe, and is also a leader in the high growth markets of Eastern Europe and Asia. Its brands like Hiab, MacGREGOR and Kalmar are dominant in their segments globally. Cargotec's sales exceed EUR 3 billion.
For Further Information, please contact:
Wipro Limited
| Media: |
Radha Radhakrishnan +91 – 80 – 25056159 |
| Investors: |
Aravind Viswanathan +91 – 80 – 25056143 |
Cargotec Corporation
| Media: |
Aija Kalander, Vice President External Communications, tel. +358(0)40 555 1637 |
| Investors: |
Paula Liimatta, IR Manager, tel. +358 (0)204 55 4634 |
About Wipro Infrastructure Engineering
Wipro Infrastructure Engineering is a division of Wipro Limited. Wipro Limited (NYSE:WIT) provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro also has profitable presence in niche market segments of consumer products and lighting. Wipro’s ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
For more information, please visit our websites at
www.wiproinfra.com www.wipro.com www.wiprocorporate.com www.wipro.in
About Cargotec Corporation
Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales exceed EUR 3 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the OMX Nordic Exchange Helsinki.
www.cargotec.com
Forward-looking and cautionary statements
Forward-looking and cautionary statements Certain statements in this release concerning our future growth prospects and our ability to successfully complete and integrate potential acquisitions are forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding our ability to integrate and manage acquired IT professionals, our ability to integrate acquired assets in a cost effective and timely manner, fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Wipro has made strategic at
www.sec.gov. Wipro may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Wipro does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.