(Published: 03/02/2007)
sycor strengthens its position in China

In the year 2005, the sycor group of companies took the first step into the Chinese market with the opening of its representative office in Shanghai. The incorporation of a "Wholly Foreign-Owned Enterprise" (WFOE) at the beginning of February now allows the company to conduct business in China independently and also establishes the basis for the strategic growth of sycor in the Far East.

In the year 2005, the sycor group of companies took the first step into the Chinese market with the opening of its representative office in Shanghai. The incorporation of a "Wholly Foreign-Owned Enterprise" (WFOE) at the beginning of February now allows the company to conduct business in China independently and also establishes the basis for the strategic growth of sycor in the Far East.

After sycor had established its first office in Asia in 2001 in Singapore, it opened the representative office SYCOR CHINA in Shanghai in 2005 to build up first contacts and to smoothen the path for business. As a result of the positive development of the business, sycor is now planning further strategic growth in China, one of the markets with the strongest growth in the world. It laid the foundation with the incorporation of the WFOE, which gives sycor the ability, for example, to hire employees and to enter into direct contracts with customers.
SYCOR CHINA is a 100% subsidiary of SYCOR ASIA and, like SYCOR ASIA, is also managed by Michael Ibach.

SYCOR ASIA and SYCOR CHINA:

SYCOR ASIA and SYCOR CHINA are specialised in the field of consulting, realisation and the operation of FileNet and SAP solutions, in particular in the areas of document management and business
process optimisation. The focus lies in the banking, insurance, chemical and public administration markets.

Concerning sycor:

As a full service provider, the sycor group of companies covers the entire range of information and communication technology. With headquarters in Göttingen and another office in Wiesbaden as well asone each in Pittsburgh (USA), Montreal (Canada), Singapore and Shanghai (China), sycor - in addition to management and strategyconsulting - offers mainly SAP and Dynamics AX services as well as
solutions for the areas of telecommunication, archiving, E-business, IT outsourcing and networks. In addition to developing solution concepts, sycor also ensures the realization and the operations of all of these solutions. The focus of the company lies in medium-sized
manufacturing companies in the chemicals industries (plastics production and processing companies), healthcare (manufacturers of medical devices), rental as well as printing and packaging. In addition to that, sycor offers its wide range of services for the oil and gas industry.
In Asia, sycor also serves the banking and insurance industries. The group of companies was established in 1998 and in 2006 achieved sales revenue of 23 million with almost 200 employees.