LONDON, November 12 /PRNewswire/ -- BancTec, Inc., a global provider of advanced, high-volume, document and payment processing solutions and services, has signed a distribution agreement with Saudi-based Al-Falak Electronic Equipment Supplies Co., a leading IT and communications solution provider. The agreement covers distribution in Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates of BancTec's highly acclaimed IntelliScan(R) and E-Series high-speed document scanning and sorting transports.
Al-Falak has nearly three decades of successful experience delivering IT and communications solutions throughout the Middle East, and will be a strong partner as we seek to expand our presence in those markets, said Darren Riley, sales manager, EMEA Emerging Markets, BancTec. Their strong market knowledge and extensive relationships, in concert with our enterprise-scale solutions, will deliver significant benefits for large organizations throughout the region.
BancTec is a well-established provider of solutions that enhance, and reduce the cost of, document and payment processing operations, said Basel Humaidah, General Manager, Al-Falak. We look forward to partnering with BancTec to extend the range of solutions we offer and further our involvement in the massive technology adoption initiatives being implemented by both government and the private sector in the region.
While oil is still the largest and most important industry in the regional economy, governments there have enacted measures in recent years to expand private sector growth in other areas -- notably power generation, telecommunications, natural gas exploration, and petrochemicals -- in order to decrease dependence on oil exports and increase employment options for the growing population.
Al-Falak has consistently been ranked by Arab News as one of the top 100 companies in Saudi Arabia for four consecutive years. The 29-year-old company delivers enterprise IT solutions through a network of offices and trained technical personnel throughout the Middle East. Al-Falak's portfolio of business partnerships includes leading solution and software providers, hardware and consumable manufacturers, business consultancy firms and implementation specialists.
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.co.uk or call +44-(0)-1753-778888.
All statements in this press release that do not directly and exclusively relate to historical facts are forward-looking statements describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled Risk Factors in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
SOURCE: BancTec, Inc.
CONTACT: James Silcock of BancTec, Inc., +44(0)1753-778813,firstname.lastname@example.org