CRA International (CRA) Expands Middle East Presence with the Opening of Saudi Arabia Office
New Riyadh Office is Company's Second in the Region
BOSTON, April 6, 2010 – CRA International (NASDAQ: CRAI), a worldwide leader in providing management, litigation, regulatory, and financial consulting services, today announced that it has expanded its presence in the Middle East with the opening of an office in Riyadh, Saudi Arabia. The new Riyadh office will complement CRA's existing office in Bahrain, which opened in 2005 as a base from which to serve clients in the region.
"The Middle East is a dynamic and developing region whose consulting needs are as challenging as anywhere in the world," said CRA's President and Chief Executive Officer Paul Maleh. "Our offices in Riyadh and Bahrain provide an important platform to support the initiatives of our clients and drive our growth across the region."
Clients have engaged CRA for a broad range of projects throughout the region, including in Jordan, Bahrain, Qatar, the United Arab Emirates, Oman, Saudi Arabia, and Kuwait. "As Middle East countries diversify their economies, the scope of our consulting work in the region has expanded beyond our traditional areas of strength in chemicals, utilities, oil, and gas," Maleh said. "We are now working on engagements in the areas of public policy and for clients in the manufacturing and service sectors. We assist clients in the Middle East with strategy services, program management organization in complex transformational projects, transaction evaluation, and regulatory development, among other areas. In addition to serving local clients in the private and public sectors, we also are increasingly advising international firms with ambitions to participate in the region's growth."
CRA's management team in the region is comprised of consultants from the Global Industrial Consulting (GIC) and Energy & Environment Practices. The team includes Vice President Robert Young, who heads the Global Industrial Consulting Practice in the Europe and Middle East Region, as well as Nic Braley, Wassim Bou-Ghanem, Jonathon Wright, Richard Tabors, and Mounir Ayntrazi. They are supported by other consultants based locally in the region as well as in other CRA locations around the world.
"We are pleased to announce CRA's office in Riyadh to complement our Bahrain base," said Robert Young, Vice President and Leader of the Global Industrial Consulting Practice in the Europe and Middle East Region. "Saudi Arabia has been an important market to us for many years, and our base in Riyadh enables us to expand our support for clients. Our Middle East operations benefit from our highly talented, local GCC (Gulf Cooperation Council) staff and the capabilities of some of our top performers from the U.S. and Europe. We look forward to developing this model in Saudi Arabia. Our strategy is to develop distinctive, high quality and cost effective consulting services based in the region to not only support our clients but to also provide further growth opportunities for CRA."
About CRA International / Charles River Associates (CRA)
Charles River Associates(R) is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout North America, Europe, the Middle East, and Asia. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.
Statements in this press release concerning the Middle East operations, future business, operating results, estimated cost savings, and financial condition of the Company and statements using the terms "anticipates," "believes," "expects," "should," or similar expressions, are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain and actual performance and results may differ materially due to many important factors. Such factors that could cause actual results to differ materially from any forward-looking statements made by the Company include, among others, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's convertible debt offering and stock-based compensation, dependence on key personnel, attracting and retaining qualified consultants, dependence on outside experts, utilization rates, factors related to its acquisitions, including integration of personnel, clients, offices, and unanticipated expenses and liabilities, the risk of impairment write downs to the Company's intangible assets, including goodwill, if the Company's enterprise value declines below certain levels, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect its practice areas, management of new offices, the potential loss of clients, the ability of customers to terminate the Company's engagements on short notice, dependence on the growth of the Company's business consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, general economic conditions, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's periodic filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.
SOURCE: CRA International
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