Ricardo Beefs Up Global Footprint with Two New Facilities in China

New engineering and testing centers in Shanghai will serve Chinese and international clients

VAN BUREN TWP., Mich., Aug. 28, 2008 - Ricardo, a leading independent provider of technology, product innovation and engineering solutions to the world's automotive, military, transport and new energy industries, is increasing its commitment to the rapidly expanding Chinese automotive market with a major two-phase expansion of its Shanghai-based operations.

Ricardo completed the first phase today with the move into a new technical center containing triple the working area of its previous Shanghai location. Now there is space for a total staff of approximately 100. The second phase, scheduled for completion by the end of 2008, features a testing facility in the expanding Anting "Auto City" area west of Shanghai.

The new Shanghai technical center will focus on providing high added-value services and projects for both Chinese and overseas clients with approximately 90 percent of the team fulfilling technical and engineering roles. The center is based in a central location close to the futuristic and prestigious Hi-Tech Park development at Caohejing, a convenient location for many of Ricardo's customers and advanced technology component and system suppliers. The Anting test center is located near significant automotive operations, including the technical headquarters of Shanghai Automotive Industry Corporation (SAIC) and the SAIC-VW assembly plant.

"With these two phases of expansion in 2008, we are transforming Ricardo China into a significant regional product-engineering and development presence capable of taking on the toughest product-development challenges and delivering high-quality services for our Chinese customers," said Lee Sykes, executive VP of Ricardo China. "These developments take Ricardo beyond the level of an overseas engineering provider, giving the company crucial critical mass as a local supplier of engineering services in the Chinese market, backed up by the global resources of Ricardo. As such we are far better placed to achieve our objectives for locally based engineering recruitment and further development of our Chinese business."

Ricardo CEO Dave Shemmans added: "The emerging automotive markets of China, Russia and India are major targets for the future growth of Ricardo as a whole, and our further investment in Ricardo China underscores our commitment to providing an excellent standard of service, responsiveness, quality and technology, irrespective of the location of our international customers."