MSX International, Inc. Announces Strategic Collaboration With Prototipo Holding BV
10 August 2000
MSX International, Inc. Announces Strategic Collaboration With Prototipo Holding BVAUBURN HILLS, Mich. - MSX International, Inc. announced today that it has entered into a close collaboration with Prototipo Holding BV, the Netherlands- based parent of Prototipo S.p.A. of Turin, Italy and Gemana S.A. of Lugano, Switzerland. To secure the union, MSX International has agreed to acquire an equity position in fast-growing Prototipo, which recorded 1999 revenues of about $25 million. In Italy, Prototipo provides testing, prototyping, styling and other development services for transportation and industrial manufacturing customers, including automotive, truck and tire manufacturers. The company operates the Nardo proving ground in Southern Italy, which includes Europe's largest all-weather test track. The facility, including a 7.8 mile circumference, high-speed ring track, is the largest of its type not owned by an automotive manufacturer. With additional operations elsewhere in Europe and in Brazil, Prototipo provides a variety of testing, product development and other technology-oriented business services. "Prototipo is very complementary to MSX International's engineering services business. The combination of Prototipo's capabilities with MSX International enhances our global engineering services capability by formalizing our ability to deliver testing and validation services," said John Risk, President and COO of MSX International's Engineering Operations. "Their testing services are compatible with the engineering and design services for which we are recognized. We believe their association with MSX International will allow them to continue their rapid growth as a leading testing company. We also anticipate significant business development opportunities as we introduce our customers to Prototipo's capabilities." "We are totally committed to the success of this new arrangement, and we consider ourselves as partners," said Domenico Reviglio, President and CEO of Prototipo. "As an entrepreneurially-focused company, Prototipo is keen to build on the relationship we have developed with MSX International. We have a common vision of delivering advanced, full-service solutions to our global customers." MSX International, headquartered in Auburn Hills, Michigan, is a leading, global provider of technology-driven business services which enable customers to significantly improve their competitive advantage. With annual sales exceeding $1 billion, MSX International deploys more than 17,000 professional staff and contract personnel at over 85 operating locations in 23 countries.