17th Jul 2014 11:10
LONDON (Alliance News) - Kalibrate Technologies PLC Thursday said that it is expanding its operations in the Asia-Pacific region, with the opening of new offices in Australia and Thailand.
The company said it will open offices in Melbourne and Bangkok within the next three months, which will give it six regional offices, adding to its presence in Mumbai, Seoul, Shanghai and Tokyo. Kalibrate also said it has promoted Huw Carey to become its Asia-Pacific vice president. Carey will be based in the new Bangkok office.
In a statement, Kalibrate Technologies, which provides proprietary software-based products and services to the global petroleum retail industry, said that its move its in line with the growth strategy it detailed at the time of its initial public offering. Under that plan, the group wants to expand into emerging, high-growth regions and to take advantage of the trend in deregulation of fuel pricing in this region.
"Our commitment to increasing investment in Asia Pacific is recognition of the size and opportunity of the market for Kalibrate's products and services, supported by the success we have achieved this past fiscal year with new business in Malaysia, Philippines, India, Australia and New Zealand," Chief Executive Bob Stein said in a statement.
"In addition, many countries are currently in the process of fuel price deregulation or planning to do so within the next few years and, as such, we believe now is the right time to strengthen our presence and resources in the region. Asia Pacific is a strategically important territory for us and extends our global presence to 12 offices," Stein added.
Kalibrate shares were Thursday quoted up 0.75 pence, or 0.7%, at 113.25 pence.
By Samuel Agini; [email protected]; @samuelagini
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