New Facility to Support Growing Need for Global Outsourcing
ENGLEWOOD, CO, Nov 26, 2007 (MARKET WIRE via COMTEX News Network) -- TeleTech Holdings, Inc. (NASDAQ: TTEC), one of the largest and most
geographically diverse global providers of business process
outsourcing (BPO) solutions, today announced its expansion into South
Africa, further broadening its global sourcing platform to encompass
six continents.
Today, TeleTech began construction on its first facility on the
African continent. Ground was broken at the Old Match Factory in Salt
River, Cape Town, at a ceremony attended by major officials from the
South Africa government. The Cape Town facility is scheduled to
commence operations later this year.
As a new investor to South Africa, TeleTech is the first
multinational company to benefit from a new investment incentive plan
launched by the South African Department of Trade & Industry, which
has targeted the international business process outsourcing industry
as a major future source of employment.
"BPO is critical to our economic development strategy and we see
TeleTech as an anchor company for this new industry," Minister of
Trade & Industry Mandisi Mpalhwa said. "We are grateful for the
commitment TeleTech has made to develop our industry."
TeleTech plans to build a number of new facilities in South Africa
and in other African countries, creating thousands of new jobs to
serve global clients seeking multiple levels of front- and
back-office support.
"We welcome TeleTech to South Africa as a partner in our mission to
increase our economic growth to six percent and as a strategic
bridgehead for the Accelerated & Shared Growth Initiative South
Africa," said Phumzile Mlambo-Ngcuka, deputy president of the
Republic of South Africa.
"Africa's future is in services and South Africa is a virtually
untapped market for offshore BPO. We are attracted by the country's
excellent infrastructure, talented and growing labor pool, and the
widespread use of English," commented Craig Reines, general manager
of TeleTech Africa. "South Africa is a high quality location linking
Africa into the global BPO supply chain."
ABOUT TELETECH
TeleTech is one of the largest and most geographically diverse global
providers of business process outsourcing solutions. We have a
25-year history of designing, implementing, and managing critical
business processes for Global 1000 companies to help them improve
their customers' experience, expand their strategic capabilities, and
increase their operating efficiencies. By delivering a high-quality
customer experience through the effective integration of
customer-facing front-office processes with internal back-office
processes, we enable our clients to better serve, grow, and retain
their customer base. We use Six Sigma-based quality methods
continually to design, implement, and enhance the business processes
we deliver to our clients and we also apply this methodology to our
own internal operations. We have developed deep domain expertise and
support approximately 300 business process outsourcing programs
serving approximately 135 global clients in the automotive,
communications, financial services, government, healthcare, retail,
technology and travel and leisure industries. Our integrated global
solutions are provided by more than 52,000 employees utilizing 37,700
workstations across 90 delivery centers in 18 countries.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements
that involve risks and uncertainties. The projections and statements
contained in these forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance, or achievements to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. All
statements not based on historical fact are forward-looking
statements that involve substantial risks and uncertainties. In
accordance with the Private Securities Litigation Reform Act of 1995,
following are important factors that could cause our actual results
to differ materially from those expressed or implied by such
forward-looking statements, including but not limited to the
following: all of the results reported above are presented without
taking into account any adjustments that may be required in
connection with the ongoing review of TeleTech's accounting for
equity-based compensation plans and should be considered preliminary
until TeleTech files its Form 10-Q for the third quarter ended
September 30, 2007; the review and possible conclusions may have an
impact on the amount and timing of previously awarded non-cash
equity-based compensation expense for current and previous financial
periods; the effect of TeleTech's failure to timely file all of its
required reports under the Securities and Exchange Act of 1934,
including the potential of a default under its credit facility; our
ability to meet the requirements of the NASDAQ Stock Market for
continued listing of our shares; potential claims and proceedings
relating to such matters, including shareholder litigation and action
by the SEC and/or other governmental agencies; and negative tax or
other implications for TeleTech resulting from any accounting
adjustments or other factors; our belief that we are continuing to
see strong demand for our services and that sales cycles are
shortening; the ability to close and ramp new business opportunities
that are currently being pursued or that are in the final stages with
existing and/or potential clients in order to achieve our Business
Outlook; estimated revenue from new, renewed, and expanded client
business as volumes may not materialize as forecasted or be
sufficient to achieve our Business Outlook; the possibility of lower
revenue or price pressure from our clients experiencing a business
downturn or merger in their business; greater than anticipated
competition in the BPO and customer management market, causing
adverse pricing and more stringent contractual terms; risks
associated with losing or not renewing client relationships,
particularly large client agreements, or early termination of a
client agreement; the risk of losing clients due to consolidation in
the industries we serve; consumers' concerns or adverse publicity
regarding our clients' products; our ability to execute our growth
plans, including sales of new services; our ability to achieve our
year-end 2007 and 2008 financial goals, including those set forth in
our Business Outlook; risks associated with attracting and retaining
cost-effective labor at our delivery centers; the possibility of
additional asset impairments and restructuring charges; risks
associated with changes in foreign currency exchange rates; our
ability to find cost effective delivery locations, obtain favorable
lease terms, and build or retrofit facilities in a timely and
economic manner; risks associated with business interruption due to
weather, pandemic or terrorist-related events; economic or political
changes affecting the countries in which we operate; achieving
continued profit improvement in our International BPO operations;
changes in accounting policies and practices promulgated by standard
setting bodies; and new legislation or government regulation that
impacts the BPO and customer management industry.
Investor Contact:
Karen Breen
Investor Relations
303-397-8592
Media Contact:
KC Higgins
Public Relations
303-434-8163
Jennifer Martin
Investor Relations
303-397-8634
