HCL signs Five-Year, Multi-Million Dollar Transformational Engineering Services Agreement with Manitowoc Cranes
Noida/Sunnyvale, CA– November 30th, 2012 – HCL Technologies Ltd. (HCL), a leading global IT services provider today announced that it has been selected by The Manitowoc Company, Inc., (NYSE: MTW) a leading multi-industry, capital goods manufacturer, as its global engineering partner for the crane operations spanning the Americas, EMEA, and Asia/Pacific regions. Manitowoc and HCL have also set up a global engineering center in Pune, India to support Manitowoc’s design centers and accelerate its new product development initiatives in emerging regions such as India, China, and Brazil.
Through this design center, HCL offers a complete spectrum of engineering services to Manitowoc Cranes to produce blueprints for new and innovative crane models. HCL also anticipates, simulates, and provides novel solutions in design implementation in a cost effective and timely manner. The design center also extends engineering design services support to Manitowoc’s key engineering hubs and innovation centers in Pennsylvania, Wisconsin, Germany, France, and Italy. The service offerings are primarily focused around product design, va ve – value analysis value engineering , structural engineering, embedded software development, and hardware engineering.
“Partnering with HCL enables us to further strengthen the core tenets of our strategy - to provide superior products and capitalize on global growth opportunities,” said Jens Ennen, Senior Vice President Global Engineering Innovation, Manitowoc Cranes. “We are confident that our partnership with HCL will accelerate our business imperatives in the emerging markets.”
“HCL’s alignment to the key business imperatives of Manitowoc and synergies between our business objectives proved to be the key differentiators during our partner evaluation process,” said Dr. Suresh Natarajan, Director of Global Engineering Services, Manitowoc Cranes. “A combination of decades of experience in engineering, out-of-the-box thinking, and a solid foundation of talent, processes, systems, frameworks, and tools are just few of the reasons why we chose to partner with HCL for our project,” he added.
“We are pleased to partner with Manitowoc Cranes on their advent to capture the potential manufacturing opportunities in the growing economies,” said GH Rao, President, Engineering and RD services, HCL Technologies. “This partnership stands testimony to HCL’s engineering prowess and innovation culture which drives global corporations to engage with us.”
Recognized by industry analysts and others for its leadership in the engineering services market, HCL has emerged as a leading technology services partner in the U.S. and Europe. HCL has partnered with over 200 customers working on cutting edge technologies, world class products and creating associated solution delivery ecosystems to elevate market leadership. For more information, please click on the link: http://www.hcltech.com/engineering-services/
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and RD services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employees First, Customers Second’ which empowers our 85,335 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 4.3 billion ( 22,471 crores), as on 30th September 2012 (on LTM basis). For more information, please visit www.hcltech.com
HCL is a $6.2 billion leading global technology and IT enterprise comprising two companies listed in India – HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 90,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms.
HCL Forward-looking Statements
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, 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, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
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