Synergex Corporation
TSX : SYX

Synergex Corporation

July 11, 2007 08:30 ET

Synergex Strengthens Its Position in Latin America

MISSISSAUGA, ONTARIO--(Marketwire - July 11, 2007) - Synergex Corporation (TSX:SYX) ("Synergex"), a leading provider of business solutions, today announces its progressive international expansion with the successful launch of its new Latin American operations into Brazil, Chile, and Colombia. These new offices will further enable Synergex to revolutionize supply chain management in Latin America, by addressing the need for seamless and transparent distribution, inventory control, and asset management. Synergex is also providing support for a strong retail presence focused on enhanced merchandising to encourage growth of the existing consumer base.

Following the establishment of the Company's Mexican subsidiary in 2006, Synergex' operations in Brazil, Chile, and Colombia further demonstrates the Company's commitment in the Latin American market. "Synergex has maintained its focus and vision of growth, innovation, and capitalization of opportunities that will yield profitable gains for the Company and its shareholders." said David Aiello, President and Chief Executive Officer. "Synergex identified a significant gap in the retail exposure for the video gaming industry in Latin America. By leveraging our expertise, and the advances we have made through innovation, the use of emerging technologies, and through the recruitment of local, knowledgeable talent, we are confident that our presence in Mexico, Brazil, Chile, and Colombia will benefit Synergex, the industries we service, and the retail marketplace in these countries and those in the surrounding regions." David Aiello further stated that "The video game business is just one industry where we have introduced the Synergex Commercial Gateway into Latin America. We have also secured contracts for other types of goods including electronics and musical instruments. The Commercial Gateway and the proprietary technology embedded within it brings lower prices to consumers, a reliable supply chain to retailers, and empowers manufacturers to access and relate to these emerging markets in a way never before possible." David Aiello explained that he foresees the expansion of Latin American Commercial Gateway to also operate between Latin American countries, many of which are constrained by the barriers of dissimilar taxes, currencies, regulatory structures, and languages that still prevail and inhibit the smooth flow of trade and currently prevent consumers from having access to the products they want at the most economical prices.

Synergex is pleased to announce that it has obtained warehouse facilities and retained key staff in all necessary functions in each of the Company's Latin American subsidiaries, and has made strategic infrastructure investments that are required to effectively manage the needs within the industry and the local retail marketplace. Synergex' Latin American personnel have worked diligently with the Company's seasoned professionals from its Canadian headquarters to help solidify new customer, retail and vendor relationships. Some of these new relationships include: Wal-Mart, Sam's Club, Blockbuster, Falabella, Extra Hipermercados, Submarino, Lojas Americanas, Atari, Midway, Namco Bandai Games America, Capcom, Sega, Konami and Game Factory.

"The relationships that we have solidified in Latin America are fundamental to generating high volume business in these regions, just as we currently do in Canada. We expect that Synergex' Latin American subsidiaries will collectively generate strong revenue in their inaugural year." said Eric So, Vice-President, Corporate Strategy of Synergex Corporation.

About Synergex Corporation

Synergex Corporation is a leading provider of business solutions. Synergex applies its proven expertise in supply chain management and process automation to emerging opportunities with high growth potential. The Company has three workgroups: Synergex Commercial Gateway, Synergex Technology, and Synergex Business Information, which provide value added depth in the areas of video game logistics and distribution, digital signage, retail solutions at the point of sale, graphic design, translation services, Radio Frequency Identification, credit reporting, and collection services.

Headquartered in Mississauga, Ontario, with operations across North, Central and South America, Synergex serves a broad base of customers that includes a number of multinational enterprises. Synergex is listed on the Toronto Stock Exchange and trades under the symbol SYX. For further information, please visit www.syx.ca.

Contact Information

  • Synergex Corporation
    David Aiello
    President and Chief Executive Officer
    (905) 565-1212
    or
    Synergex Corporation
    Eric So
    Vice President, Corporate Strategy
    (905) 740-3274
    Website: www.syx.ca