BancTec and Al-Falak Electronic Equipment & Supplies Co. Establish Distribution Relationship
By Banctec Inc., PRNEWednesday, November 11, 2009
Agreement extends BancTec's growth in Middle East
LONDON, November 12 - BancTec, Inc., a global provider of advanced, high-volume, document and
payment processing solutions and services, has signed a distribution
agreement with Saudi-based Al-Falak Electronic Equipment & Supplies Co., a
leading IT and communications solution provider. The agreement covers
distribution in Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab
Emirates of BancTec's highly acclaimed IntelliScan(R) and E-Series high-speed
document scanning and sorting transports.
"Al-Falak has nearly three decades of successful experience delivering IT
and communications solutions throughout the Middle East, and will be a strong
partner as we seek to expand our presence in those markets," said Darren
Riley, sales manager, EMEA Emerging Markets, BancTec. "Their strong market
knowledge and extensive relationships, in concert with our enterprise-scale
solutions, will deliver significant benefits for large organizations
throughout the region."
"BancTec is a well-established provider of solutions that enhance, and
reduce the cost of, document and payment processing operations," said Basel
Humaidah, General Manager, Al-Falak. "We look forward to partnering with
BancTec to extend the range of solutions we offer and further our involvement
in the massive technology adoption initiatives being implemented by both
government and the private sector in the region."
While oil is still the largest and most important industry in the
regional economy, governments there have enacted measures in recent years to
expand private sector growth in other areas — notably power generation,
telecommunications, natural gas exploration, and petrochemicals — in order
to decrease dependence on oil exports and increase employment options for the
growing population.
About Al-Falak:
Al-Falak has consistently been ranked by Arab News as one of the top 100
companies in Saudi Arabia for four consecutive years. The 29-year-old company
delivers enterprise IT solutions through a network of offices and trained
technical personnel throughout the Middle East. Al-Falak's portfolio of
business partnerships includes leading solution and software providers,
hardware and consumable manufacturers, business consultancy firms and
implementation specialists.
About BancTec
BancTec helps clients around the world simplify the process of managing
their information. Founded in 1972, the company provides a wide range of
solutions for automating complex, high-volume and data-intensive business
processes for clients in the financial services, healthcare, manufacturing,
government, services and utilities industries. BancTec's offerings include
business solutions, business process outsourcing, and infrastructure
services. With headquarters in Dallas, BancTec serves clients in 50
countries. For more information on how BancTec can help you optimize
information management, visit www.banctec.co.uk or call +44-(0)-1753-778888.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively
relate to historical facts are "forward-looking statements" describing
BancTec's objectives, targets, plans, strategies, costs, anticipated capital
expenditures and expected cost savings. These statements represent BancTec's
intentions, plans, expectations and beliefs, and are subject to risks,
uncertainties and other factors, many of which are outside the Company's
control. These factors could cause actual results to differ materially from
such forward-looking statements. For a written description of these factors,
see the section titled "Risk Factors" in the Company's Registration Statement
on Form S-1, as amended, initially filed with the Securities and Exchange
Commission on August 8, 2007. The Company disclaims any intention or
obligation to update these forward-looking statements whether as a result of
subsequent events or otherwise except as required by law.
James Silcock of BancTec, Inc., +44(0)1753-778813, james.silcock at banctec.co.uk
Tags: Banctec Inc., France, Germany, London, Saudi Arabia, United Kingdom