SHENZHEN, China , Nov. 4 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. ("China Security", "CSST" or the "Company") (NYSE: CSR)(DIFX: CSR), a leading provider of digital surveillance technology in China , today announced a memorandum of understanding (MOU) with CMS Computers Ltd. ("CMS"), a leading IT solutions provider based in India to explore security and surveillance business opportunities in India .
Under the terms of this MOU, both parties will treat each other as a preferred partner in the area of surveillance project execution and will work jointly together to bid on new security projects in India . Both parties will also share resources to market Safe City-oriented projects in India . CSST, with its extensive experience in building out Safe City projects in China , will provide technical and industry application knowledge to the local Indian market. In addition, CSST will be the main equipment supplier for the projects in India . CMS, with its extensive local expertise in the IT related industry, will provide the necessary local support and relationships in penetrating the security and surveillance industry in India and surrounding regions.
CMS has already had success executing many security-related projects in India including Traffic Signal Management, Building Security and Automation Systems and variety of CCTV projects. Driven by the need in India for increased city safety and better traffic management, CMS plans to leverage CSST's experience and technical knowledge of "Safe City" project implementation to secure new contracts with local governments.
CMS is a long standing and reputed enterprise in India with over 10,000 professionals worldwide offering a wide range of solutions and services across various verticals in strategic IT consulting, Networking, Training, Outsourcing, Platform delivery, Facility Management, Customizing & Implementing Solutions, Onsite service & support, and Application Management support. CMS was nominated as the "Most Preferred IT services company" in IDC's survey in 2004.
Mr. Guoshen Tu, Chief Executive Officer of China Security commented, "While China remains our core market opportunity, we continue to explore ways to increase our visibility and our participation in the international markets. Working with CMS provides us with a fantastic opportunity to expand our security applications in India and in the surrounding regions. CMS has an expansive reach into the India market, a highly skilled workforce and solid experience executing a number of government Safe City-oriented projects. We are optimistic that this new partnership can result in new business opportunities in the future. Combining the Indian and Chinese markets will provide the group with tremendous growth opportunities."
Mr. R.D. Grover , CMS Chairman stated, "CMS has a growing security and surveillance division within our company and CSST is a proven security system integrator in China on many local government projects. We are pleased to partner with a company that has a strong performance track record and we believe their total security solutions offering will facilitate new business opportunities in India . Based on our collaborative efforts in India , we are confident that CMS and CSST can also undertake similar projects in other countries in the region."
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China , China Security manufactures, distributes, installs and services security and surveillance products and systems as well as develops security and surveillance related software in China . Its customers are mainly comprised of commercial and government entities and non-profit organizations. China Security has built a diversified customer base through its extensive sales and service network that includes over 150 branch offices and distribution points throughout China . To learn more about the Company visit http://www.csst.com .
Safe Harbor Statement
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for security and surveillance products, our expectations regarding the continued growth of the security and surveillance market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 , and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov . The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
SOURCE China Security & Surveillance Technology, Inc.