SVR.L Regulatory News (SVR)

6 Jan 2005 07:00

SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "COMPANY") New Business Venture ServicePower, the recognised market leader in artificial intelligence based,field service scheduling solutions and computer services, today announced ithas launched its Field Service Solutions (FSS) suite of products into Europe.In March 2004 ServicePower acquired certain assets of Keyprestige in the US andlaunched a range of services to assist US companies to manage and controlservice jobs performed by independent service organisations. These servicesinclude electronic despatch of jobs, claim form processing, audit of claims,recruitment of servicers through to provision of a total service delivery.These services were initially planned to be offered to the white goodsindustry, pioneered by GEC&P and Whirlpool, but there has been such a positiveresponse from the consumer electronics industry that the Company has launched aseries of products designed specifically for that industry. Since then theCompany, as previously reported, has won a significant contract with USD-TV forthe installation of set-top boxes, and several contracts with manufacturerssuch as Hisense, Westinghouse, Sharp, Phillips etc for the installation andrepair of large plasma TV screens.The early customers in the consumer electronics industry have been activelyencouraging us to support their European operations. After investigation theDirectors are convinced there is a similar opportunity in Europe as the US andwith the advantage of little competition to our established claims processingbusiness.The key to the company's success has been to recruit Chris Smith who has astrong background in the retail sector at a senior level, the staff ofKeyprestige that understand the independent servicer market and world-leadingIT technology from ServicePower. To duplicate the model in Europe the Directorslooked to recruit recognised leaders in the industry and the Company is pleasedto announce the appointment of David Brock as Managing Director of ServicePowerFSS Europe. David has extensive experience in the retail sector having been adirector of the Powerhouse Retail group and a director of a warranty logisticsmanagement company. David will bring with him a strong team including JonathanTrubshaw, formerly the managing director of the National Electronic ServiceNetwork (NESN).ServicePower has acquired the IPR of a recently formed company, XpointSolutions for a nominal amount and commenced trading on 4th January 2005. Thenew business has already won a number of contracts, worth in excess of ‚£250,000per annum, to deliver a total service solution for the repair of in-car, homeentertainment and computer products across Europe."The key to launching a service business is to have the very best managementwho know the industry well. I am proud that David Brock and his team haveagreed to join ServicePower and I am very confident they will quickly becomethe leading supplier of service solutions via independent servicers to the UKand Europe" commented David Brisco, CEO of ServicePower.Note: ServicePower refers to the company and SERVICEPower refers to theproduct.6th January 2005----------------------------------------------------------------------------------------------------------Contacts:David Brisco, Chief Executive Officer Tel: 0161 476 2277Barry Welck, Non-executive Chairman Tel: 07831 396539ServicePower Technologies PLCMichael Brennan Tel: 020 7071 4300Evolution Securities LimitedEND