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Kelly Services Expands Operations in China and Singapore With Acquisition of P-Serv
Company Increases Global Network to 33 Countries and Territories
| Source: Kelly Services
TROY, MI--(Marketwire - May 30, 2007) - Kelly Services, Inc. (NASDAQ : KELYA ) (NASDAQ : KELYB ), a leading human resources solutions provider, today announced it
has acquired P-Serv, a company specializing in temporary staffing,
permanent staffing, outsourcing and executive search with operations in
China, Hong Kong and Singapore. The acquisition increases Kelly's global
footprint to 33 countries and territories. Estimated full year 2007 revenue
is approximately $12 million.
Established in 1990, P-Serv has offices in Hong Kong, Singapore and seven
China cities, including Chengdu, NanChang, Shanghai, Beijing, Suzhou,
Guangzhou, and Shenzhen. P-Serv has a stellar reputation for providing
customized solutions in human resources and outsourcing for temporary,
contract and full-time positions. P-Serv also provides overseas placement,
business process outsourcing and call center management services.
In 2006, China's staffing market was estimated at $2 billion. It is
expected to reach $2.5 billion in 2007. As foreign investment in China
increases, rapid growth in the staffing market is projected due to high
demand for specialized, credentialed talent and efficient human resources
solutions.
"The acquisition of P-Serv strengthens our global network and enhances our
ability to provide wide-ranging talent management solutions to our
customers as they expand globally," said Carl Camden, president and chief
executive officer of Kelly Services. "The growth in China's staffing market
is poised to accelerate. Through our strategic and phased expansion into
the Asia Pacific markets, Kelly is well-positioned to participate in this
tremendous growth cycle."
As part of the transaction, Paul Ng, P-Serv's managing director, will join
Kelly Services as senior director and general manager for Greater China.
Wong Poh Swan, P-Serv's general manager, will join as director and general
manager of P-Serv Singapore.
"We are delighted to join the Kelly organization. Employees of P-Serv will
tap into the resources, learning and experience of a world leader with more
than 60 years of solid performance," said Paul Ng, senior director and
general manager of Greater China for Kelly Services. "Through Kelly's
global network and comprehensive human resources solutions, P-Serv will
successfully meet the evolving needs of our customers. It is truly a
win-win partnership."
About Kelly Services, Inc.
Kelly Services, Inc. (NASDAQ : KELYA ) (NASDAQ : KELYB ) is a Fortune 500
company headquartered in Troy, Mich., offering staffing solutions that
include temporary staffing services, outsourcing, vendor on-site and
full-time placement. Kelly operates in 33 countries and territories.
Kelly provides employment to more than 750,000 employees annually, with
skills including office services, accounting, engineering, information
technology, law, science, marketing, creative services, light industrial,
education, and health care. Revenue in 2006 was $5.5 billion. Visit
www.kellyservices.com.