Mold Tek Technologies to acquire KPO company

Mold Tek Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on November 07, 2007, has approved the MOU signed for 100% acquisition / merger of USA based structural Engineering KPO Company and also its associate Company in India. The Board of Directors authorized the Chairman and Managing Director to go ahead with the due diligence and valuation process. These Companies specialize in providing Structural Engineering Services to "High-Rise Buildings" and have about 90 Engineers working in its Indian and USA Offers.

The acquisition will enhance Mold-Tek's revenue by 125% in the "High-Rise Buildings Segment" and will enable Mold-Tek to emerge as a major player for KPO engineering Services in this segment where the potential from US and European Clients is enormous. With this acquisition Mold-Teks KPO Division is expected to maintain better than 100% + annual growth, which it has been achieving in the last few years. Through this acquisition, Mold-Tek will also add 20 more new clients to its present 40+ clients in USA and Canada, while the total manpower will rise 350 engineers (more than 150% rise over last year."