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Cray Forms New Subsidiary in China(February 23, 2012)
SEATTLE, WA -- (Marketwire) -- 02/23/12 -- Global supercomputer leader Cray Inc. (NASDAQ: CRAY) today announced it has formed a new wholly-owned subsidiary in China aimed at strengthening Cray's presence in China's growing High Performance Computing (HPC) marketplace.
Located in Beijing's Haidian district, Cray Computing Equipment (Beijing) Co. Ltd. will focus on selling Cray supercomputing systems and storage, training end-users and administrators, and providing the excellent, direct customer service for which Cray has become known. With plans to staff the subsidiary with new Cray employees that are highly skilled in HPC, the Company is making a long-term commitment towards building a strong base of Cray customers in China. Cray Computing Equipment (Beijing) Co. Ltd. is a wholly-owned subsidiary of Cray China Limited, a wholly-owned subsidiary of Cray registered in Hong Kong.
"Cray believes the Company needs to expand its supercomputing capability and expertise in the rapidly growing HPC field in China, and thus provide a strong, local presence to China's scientific community," said Andrew Wyatt, vice president, Cray Asia Pacific. "The country's HPC market is of rising importance, and establishing a new subsidiary in Beijing reconfirms our dedication to providing world-class supercomputing technologies to meet the growing needs of China's HPC users."
Cray continues to expand its global expertise in designing, developing, marketing and servicing the world's most advanced supercomputers. In April 2009, Cray formed a new subsidiary in New Delhi, India, and currently has offices, subsidiaries and research and development facilities in the United States, Canada, Brazil, Japan, Australia, Taiwan, Hong Kong, South Korea and in several countries throughout Europe. Cray's corporate headquarters are located in Seattle, Washington.
About Cray Inc.
As a global leader in supercomputing, Cray provides highly advanced supercomputers and world-class services and support to government, industry and academia. Cray technology is designed to enable scientists and engineers to achieve remarkable breakthroughs by accelerating performance, improving efficiency and extending the capabilities of their most demanding applications. Cray's Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to surpass today's limitations and meeting the market's continued demand for realized performance. Go to www.cray.com for more information.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to the Company's plans to staff its new subsidiary in China and build a base of customers in China. These statements involve current expectations, forecasts of future events and other statements that are not historical facts. Inaccurate assumptions and known and unknown risks and uncertainties can affect the accuracy of forward-looking statements and cause actual results to differ materially from those anticipated by these forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, the risk that the Company is unable to recruit and retain the staff it needs in China, the risk that the Company will be unable to successfully sell HPC systems in China as expected or at all and such other risks as identified in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2011, and from time to time in other reports filed by Cray with the U.S. Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. Cray undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change the Company's expectations.
Cray is a registered trademark of Cray Inc. in the United States and other countries.
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