NewMarket China, Inc. Announces Joint Services Contract with Studio5Soft Co., Ltd. of Shanghai Expanding Offshore Video & Online Gaming Capabilities
Thursday April 5, 9:13 am ET
NewMarket China Plans Continued Rapid Growth with 100% Revenue Increase for 2007 to $40 Million
DALLAS--(BUSINESS WIRE)--NewMarket China, Inc., (OTCBB:NMCH - News), the China regional subsidiary of NewMarket Technology, Inc. (OTCBB:NMKT - News), announced today a contract with Studio5Soft Co., Ltd. of Shanghai, China. Studio5Soft is a leader in the high-growth video and online game development market. Studio5Soft builds video games for Sony (NYSE:SNE - News) Playstation, Nintendo (OTC:NTDOY - News) Game Cube, Game Boy Advance and Nintendo 64 including: Tom Clancy's Ghost Recon, F1 Racing Championship and Sum of All Fears.
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NewMarket China and Studio5Soft have entered into a two year contract to cooperatively provide multimedia outsourcing services to customers in North America and beyond. Studio5Soft is one of the companies currently scheduled to attend the upcoming NewMarket China, May 7-16, U.S. Road Show with the Shanghai Multimedia Industry Association (SMIA).
Last year, NewMarket Technology completed the independent public listing of its Chinese operations which expect to report over $20 million in revenue for 2006. NewMarket China has forecasted a 100% increase in revenue in 2007 to $40 million.
Chinese High-Tech Multimedia Tour Across the U.S.
NewMarket China has been engaged by the SMIA to host a U.S. tour to showcase the talents of eight cutting-edge Shanghai-based multimedia companies with a wide array of capabilities, including gaming, digital animation, computer graphic design, architectural renderings and film post production.
The SMIA is a member of the International Federation of Multimedia Associations (FIAM) and is the authority on the multimedia industry in Shanghai, with more than 148 member companies. The SMIA has extended its influence beyond Shanghai by networking with many other government organizations, media outlets and corporations throughout China. Beyond China, the SMIA has membership in associations and organizations in more than ten countries.
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