StarTek Announces Philippine Expansion
(Manila, Philippines, February 8, 2010) – StarTek, Inc. (SRT: NYSE), a leading provider of high-value business process outsourcing (BPO) services, announced today the recent signing of a lease for a new customer care facility in the Eton Cyberpod Corinthian business center.
Eton Cyberpod is located on Ortigas Avenue across from Robinson’s Galleria, a major shopping, entertainment, and hospitality complex. The new StarTek call center is the second Philippine facility for the company. StarTek’s first facility is in the Makati business district on Jupiter Street.
“The addition of a second location in the Philippines continues our global expansion plans,” said Larry Jones, StarTek President and Chief Executive Officer. “We are building on the success of our first location in Makati that opened just over a year ago.”
Ortigas Avenue is the main thoroughfare in the Ortigas Commercial Center, a large and important commercial and business district in the Philippine capital. It encompasses more than 100 hectares of prime real estate and is home to large corporations, sprawling shopping malls, and high-end restaurants.
The Eton Cyberpod Corinthian business center is located near premier educational institutions. Its location near the junction of a major light rail and surface transportation hub ensures accessibility to a large, high-quality labor force.
The new StarTek facility is approximately 15,000 square meters, which will accommodate approximately 2,100 seats. The Ortigas site will add to StarTek’s existing 1,100-seat Makati facility which is targeted to be at full capacity by the first half of 2010. The company will recruit employees for its Ortigas site in the coming months, in addition to recruiting activities already underway at its Makati facility.
StarTek’s planned expansion will contribute to the growth of the contact center industry in the Philippines, which is expected to expand at least 15% this year to US$5 billion in revenue according to the Call Center Association of the Philippines (CCAP). In 2009, the contact center industry recorded revenue of US$4.5 billion.
StarTek, Inc. (NYSE: SRT) is a leading provider of high quality business process outsourcing services. Since 1987, StarTek has partnered with its clients to solve strategic business challenges so that fast-moving businesses can improve customer retention, increase revenue and reduce costs through an improved customer experience. These robust solutions leverage industry knowledge, best business practices, highly skilled agents, proven operational excellence and flexible technology. The StarTek comprehensive service suite includes customer care, sales support, complex order processing, accounts receivable management, technical support and other industry-specific processes. Headquartered in Denver, Colorado, StarTek provides these services from 20 operational facilities. For more information visit the Company’s website at www.StarTek.com or contact us at 800-541-1130.
This press release contains certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, concerning expansion of StarTek’s operations to Philippines and demand for StarTek’s services. Words such as “expects”, “believes”, “intends”, “will”, “estimates” and similar expressions identify such forward-looking statements. These are statements that relate to future events and include, but are not limited to, statements related to expanding the Company’s service delivery capabilities. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in these forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to close and ramp new business opportunities that are currently being pursued with existing and/or potential clients, the ability to recruit and retain qualified employees, our ability to retain key management personnel, maximizing capacity utilization of our facilities, demand for our clients’ products and services, our ability to effectively manage growth, highly competitive markets, our lack of significant international presence outside North America, geopolitical military conditions, unfavorable global economic conditions, difficulties in management of personnel overseas, fluctuations associated foreign currency exchange rates, difficulties complying with foreign laws, unexpected changes in regulatory requirements, political and social instability, economic or political changes affecting Philippines, potentially adverse tax consequences, risks associated with business interruption due to weather, pandemic or terrorist-related events, and those factors discussed in the Company’s Form 10-K for the year ended December 31, 2008, and subsequent filings with the Securities and Exchange Commission. Certain of these risks will be set forth in more detail in the Company’s subsequent filings with the Securities and Exchange Commission.