NewMarket Technology (NWMT) plans trade mission to China
Posted on: December 9th, 2009Written by:
NewMarket Technology, Inc. (OTCBB: NWMT) (Pink Sheets: NWMT) today announced a planned Trade Mission to China to coincide with the 2010 World’s Fair being held in Shanghai, China. The mission will be focused on presenting Greenfield investment opportunities while participating in the World’s Fair. The Greenfield Partnership Program was introduced by NewMarket earlier this year to facilitate the growth of early stage technology companies. One such company, NuMobile, Inc. (OTCBB: NUBL) which is scheduled to be included on the Trade Mission agenda. Additionally, members of the Trade Mission will visit NewMarket’s operations in China.
Chinese operations for NewMarket totaled $30 million in revenue year-to-date, through a subsidiary of the Company, a systems integration service provider that markets technology outsourcing services that include the sale and service of brand name technologies such as Microsoft, Oracle, Cisco, IBM (NYSE:IBM) , HP (NYSE:HPQ) and Dell (NASDAQ:DELL). The operation in China reported over $40 million in annual revenue in both 2007 and 2008, and recently reported $30 million in revenue through the first nine months of the year ending September 30, 2009, with record net income of $1.8 million.
NewMarket provides systems integration services, to include technology reseller, customization, integration, and support services, in Southeast Asia, Latin America and North America, as well as China, and is actively expanding its business services into the growing markets of East Africa. In 2008, NewMarket reported $95 million in global revenue and has forecasted profitable revenue growth in 2009 compared to 2008.
