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Microcap & Penny Stocks : NTWK OTC BB Netsol International Inc (Formerly MGHI)
NTWK 4.1300.0%Jan 18 12:00 AM EST

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From: QualityStocks6/15/2010 9:52:45 AM
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NetSol Technologies, Inc. (NTWK) Announces Contract with Sany Corp. of China for Implementation of NFS Solution

Today, NetSol Technologies, Inc. announced that Sany Corp. of China, the largest concrete equipment manufacturer in the world, signed a contract of notable value to install NetSol’s Financial Suite (“NFS”) solution to run its newly formed finance company. The complete NFS suite, including Credit Application Processing (CAP), Contract Management System (CMS) and Wholesale Finance System (WFS), is to be deployed across Sany’s vast dealer network as well as its business back office centers across China.

The largest concrete machinery manufacturer in the world, Sany is one of the Global Top 50 Construction Machinery Manufacturers and one of China’s Top 500 Enterprises. The company has been honored as the most profitable and competitive enterprise in the engineering machinery industry, Top Chinese Enterprise by Forbes, Brand with the Highest Growth Momentum in China, Symbolic Brand in Chinese Engineering Machinery Industry and one of the Top 500 Brands in Asia.

Sany Heavy Industry Co., Ltd, a core subsidiary of Sany Group, which got listed on the Shanghai Stock Exchange on July 3, 2007, was the first Chinese enterprise to successfully realize the non-tradable shares reform and to put its shares into full circulation.

Naeem Ghauri, head of Global Sales and President of NetSol Technologies, Inc. for Europe, stated, “This win is one of many we have in our current pipeline and is a further validation of our China strategy and our NFS value proposition. We have a clear market leadership in this exciting space, which is continuing to grow exponentially in China.”

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