Nov 05 2008 |
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Pitney Bowes Eyes Middle East Expansion
To Leverage Liberalization of Postal Sector and the Burgeoning Insurance and Financial Sectors to Achieve Double Digit Growth
DUBAI, November 5, 2008 - Pitney Bowes Inc. (NYSE:PBI), the leading mailstream technology company, today reiterated plans to leverage the liberalization of the postal sector and the burgeoning insurance and financial sectors to further expand its business in the Middle East region.
In line with increased commitment to the region, the company appointed a Regional Manager, Mohammed Irsan Khalil, for the Middle East earlier this year. Pitney Bowes currently counts national posts such as Jordan Post and Emirates Post as its key customers in this region.
Pitney Bowes also organized a Distributor Summit for the first time in the Middle East, a two-day event which commenced yesterday at the Kempinski Hotel (Dubai). Attracting delegates from eight distributor companies based in countries such as Bahrain, UAE, Egypt, Jordan, Kuwait, Lebanon, Oman, and Saudi Arabia, the Summit provided an opportunity for participants to learn more about new products, as well as to gain a stronger understanding of the resources offered by Pitney Bowes.
Speaking at the Distributor Summit, Eric-Yves Mahe, President of Pitney Bowes for the Asia Pacific and Middle East region said, "The postal sector in the Middle East has a lot of untapped potential which is slowly being realized with its gradual liberalization. The large and growing population coupled with low computer penetration (20%) and internet penetration (28%) in GCC countries is also increasing demand for basic postal services. We see strong opportunity to work closely with companies in the postal as well as insurance and financial sectors in further expanding the usage of our Mailstream solutions and software technologies. Backed by our strong experience and successes in other markets, we believe we are well poised to help these companies effectively leverage our technologies to enhance their business efficiency and grow their businesses."
Added Mahe, "Establishing a direct presence here will enable us to collaborate more closely with channel partners and to expand out network, paving the way for further expansion and growth in this region. We have achieved a double-digit Compound Annual Growth Rate (CAGR) over the last four years in the Asia Pacific region and are confident to achieve similar growth rates in the Middle East."
Pitney Bowes employs more than 1,000 people in 11 countries and has a customer base of more than 100,000 large and SME businesses in the APME region. The regional headquarters for the APME region was established in Singapore in October 2007. The company targets to double revenue for the APME region within the next 3 years.
-Ends-
About Pitney Bowes
Pitney Bowes is a mailstream technology company that helps organizations manage the flow of information, mail, documents and packages. Our 36,000 employees deliver technology, service and innovation to more than two million customers worldwide. The company was founded in 1920 and annual revenues now total US$6.3 billion. The regional headquarters for the Asia Pacific and Middle East region was established in Singapore in October 2007. Pitney Bowes operates directly in 11 countries in this region, with more than 1,000 employees. More information is available at www.pb.com.
For further information, please contact:
Rima Armstrong
TBWA
Tel: +971 4 425 8800
Email: rima.armstrong@tbwaraad.com
Lynette Koh
Pitney Bowes (Asia Pacific) Pte Ltd
Tel: (65) 6499 9292
Email: lynette.koh@pb.com
Mohammed Irsan Khalil
Regional Manager - Pitney Bowes Middle East
Office 104 - Bldg. 3E
Dubai Airport Free Zone (DAFZA)
Dubai
UAE
Tel : +971 4 2990462
Email: mohammed.khalil@pb.com
© Press Release 2008
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