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International Aerospace and Defense Leader Meggitt Signs $50 Million Global Engineering Transformation Services Agreement with HCL
PUBLISHED DATE: Jan 27, 2010
SUNNYVALE, CA; NOIDA, India; DORSET, U.K., January 27, 2010 - HCL Technologies Ltd. (HCL), a leading global Engineering and IT services provider, today announced that Meggitt, an international group specializing in aerospace equipment, high performance sensors, defense training and combat systems, has selected HCL Technologies’ Engineering and R&D Services (HCL ERS) division to provide engineering services for its global operations. After a stringent multi-vendor review which ran for several months, HCL was selected based on its understanding of Meggitt’s business challenges and proven track record of partnering with large aerospace and manufacturing companies on highly complex engineering development programs.
“This strategic initiative will help us respond to the current economic environment while successfully positioning us for future growth,” said Terry Twigger, Meggitt’s Chief Executive.
Bernie Stevens, Meggitt’s Group Head of Engineering Transformation, added, “Meggitt is focusing on in-house engineering that is creative and innovative, developing systems and technologies that our customers want and that will drive the growth of the group for many years to come. Where we can, we will outsource routine engineering activities that do not form the core of what Meggitt does best. That is where HCL comes in. “
Recognized by industry analysts and others for its leadership in the engineering services market, HCL ERS has emerged as the leading engineering services vendor in the U.S. and Europe. Boasting the largest aerospace customer footprint among all Indian service providers, HCL’s commitment to addressing engineering and operational challenges enables the company to address each customer’s specialized pain points and provide an individualized solution.
“With more than three decades’ of experience helping large corporations address complex engineering environments, HCL integrates the right capabilities and business models to ensure organizations such as Meggitt establish a competitive advantage,” said Sandeep Kishore, Senior VP and Global Head of Sales & Practice, HCL ERS. “HCL’s alignment to the key business imperatives of Meggitt and synergy with business objectives proved to be the biggest differentiators during the evaluation process and culminated in this strategic win.”
Headquartered in the United Kingdom, Meggitt PLC is an international group operating in North America, Europe and Asia. Known for its specialized extreme environment engineering, Meggitt is a world leader in civil and military aerospace equipment, sensing systems, combat support and defense systems training.
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 R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 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 ‘Employee First’ which empowers our 55,688 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.5 billion (Rs. 11,833 crores), as on 31st December 2009 (on LTM basis). For more information, please visit www.hcltech.com.
About HCL Enterprise
HCL is a $5 billion leading global Engineering and IT Enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups, a pioneer of modern computing, and a global transformational enterprise today. Its range of offerings spans Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products across a wide range of focused industry verticals. The HCL team comprises over 60,000 professionals of diverse nationalities, who operate from 26 countries including over 500 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.com.
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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