MRINetwork Strengthens International Presence with the Signing of a Master Franchise License Agreement
Philadelphia, PA, May 1, 2006 (PRNewswire)—MRINetwork™, one of the world's
largest search and recruitment networks, today announced the signing of a
contract for the sale of the master franchise license for international
locations. Consensus Business Group, a multi-billion-pound UK venture, and
Providence Franchise Partners, an international franchising company, have
formed MRI Worldwide Network Limited, a new company established for the
purpose of operating the new master franchise. Franchises based in Japan
are not affected by the agreement due to an existing master franchise
agreement with MRI Japan.
"As businesses become increasingly global, our clients require access
to global talent," says Bill Olson, President and CEO, MRINetwork.
"Although we have been franchising internationally for the past decade, we
recognize the need to accelerate our growth. In partnership with this
highly qualified group, we now have the opportunity to capitalize on the
booming international market."
The arrangement will enable MRINetwork to have a deeper penetration of
global markets through rapid, controlled growth. "Collectively our
experience in the world of franchising, along with the superior credentials
of MRINetwork, positions us to bring outstanding value to our franchisees,"
says Michael Jalbert, CEO of MRI Worldwide Network Limited. Mr. Jalbert
brings extensive experience in franchising to the role through his eight
years as the Vice Chairman and Partner of ERA Europe, a real estate
franchise network in 16 European countries.
Steve Mills, Senior VP Franchise Operations at MRINetwork in
Philadelphia, has accepted the role of Chief Operating Officer with MRI
Worldwide Network Limited. "My relationship with MRI began on the
international side," he says, "and I feel that I am being given an
opportunity to finish what I started." Former MRINetwork CEO Allen Salikof
is also joining the new venture as Chief Development Officer, and will also
sit on the Board of Directors. He will be responsible for developing new
revenue streams and new markets.:
MRI Network Worldwide Limited will be headquartered in London.
MRINetwork's Windsor location will continue to serve as the base of
operations.
About MRINetwork:
Management Recruiters International, Inc, trading as MRINetwork
(http://www.mrinetwork.com), is a subsidiary of staffing and outsourcing
leader CDI Corp. (NYSE: CDI), a global provider of engineering and
information technology outsource solutions and professional staffing
(http://www.cdicorp.com). MRINetwork has nearly 1,100 offices in over 35
countries.
Caution Concerning Forward-Looking Statements:
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements that address expectations or projections about the future,
including statements about our prospects for growth and future financial
results, are forward- looking statements. These statements are not
guarantees of future performance and involve a number of risks,
uncertainties and assumptions that are difficult to predict. Actual
outcomes and results may differ materially from what is expressed or
forecasted in these forward-looking statements depending on a variety of
factors, including the following: changes in general economic and business
conditions; hiring levels and employment trends applicable to the types of
personnel which the company typically recruits; the ability of MRI
Worldwide Network Limited to attract and retain qualified management
personnel and other staff employees; competitive market pressures; and
government policies or judicial decisions adverse to the recruitment and
franchising businesses. More detailed information about some of these risks
and uncertainties may be found in CDI Corp.'s filings with the SEC,
particularly in the "Risk Factors" section of CDI's Form 10-K's and the
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" section of CDI's Form 10-K 's and Form 10-Q's. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. We assume no obligation to update
such statements, whether as a result of new information, future events or
otherwise.
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