Euro RSCG Worldwide Acquires a Majority Equity Of Leading Puerto Rican Advertising Agency, Premier Maldonado & Associates, Inc.Business Editors NEW YORK--(BUSINESS WIRE)--July 18, 2001 Euro RSCG Euro RSCG is an advertising agency network with global operations headquartered in New York. It is the main advertising agency network of the French communications group Havas, and is ranked 5th largest network according to Advertising Age Magazine, with over 233 offices in 75 Worldwide Strengthens Presence in Hispanic Markets Bob Schmetterer, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Euro RSCG Worldwide, today announced the acquisition of a majority equity of Premier Maldonado & Associates, Inc. (PM&A), Puerto Rico's leading local agency. Founded almost 40 years ago, PM&A provides both traditional advertising and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most . The agency, which will be renamed Premier Euro RSCG, will be Euro RSCG Worldwide's lead agency in Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. and the Caribbean. Franco Sotomayor, CEO of Premier Euro RSCG, explained that "over the years, PM&A has received several offers from multinationals in the industry. However, we found in Euro RSCG not only the synergy among equals, but a perfect match in organizational culture and services. We are now positioned and fully equipped to maximize and add value to the services for our clients within the current globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation . In a nutshell, we all benefit in this partnership--it's a win-win situation for all." Eduardo Plana, President of Euro RSCG Latin America, stated, "Several of PM&A's performance factors caught our eye. First of all, their client list, which consists both of strong local brands and Fortune 500 companies. This is truly exceptional, especially for an independent agency. Second, their client retention rate is impressive. This is obviously an indication of client satisfaction and solid management. Thirdly, the upbeat morale and `can do' attitude of their professional team was a real asset." He continued, "PM&A's strong financial performance and work ethic also attracted us, especially in this challenging economic environment. PM&A's team values, proactive attitude, and excellent strategic thinking go hand-in-hand with Euro RSCG's commitment to creativity and client service." Premier Maldonado, PM&A's Chairman and Strategic Conceptualizer/Latin America, added, "Unlimited opportunities will now be available for conceptualizing effective creative strategies for our local and multinational clients. My experience of over 40 years in this ever-challenging function will be fully tested in global markets." Roberto Ortiz de Paz, President and COO of PM&A, added, "This new millennium is an exciting, challenging period with an aggressive agenda; additional staffing rather than trimming is the operative philosophy. PM&A, with our 100 employees, looks at our affiliation with Euro RSCG as a strong motivator to go after the number one position by maximizing its local and U.S. Hispanic market expertise with the resources and global vision of the network. Our clients will now have available a wealth of international resources and experience at their reach." PM&A's major clients in Puerto Rico include AARP AARP, a nonprofit, nonpartisan national organization dedicated to "enriching the experience of aging"; membership is open to people age 50 or older. Founded in 1958 by Ethel Percy Andrus as American Association of Retired Persons, AARP now has over 30 million Healthcare Options, Associates Finance, Ballester Hermanos, Inc. (Corona Extra, Tequila Jose Cuervo, Grand Marnier, Codorniu, Felipe II, Moet Chardon, Hennessy, Cinta Azul), Burger King (Caribbean Restaurants), Ferreterias Masso, Humberto Vidal, Marianne, Michaels, Pep Boys, Polaroid, Puerto Rico Telephone, and Walgreens. They also provide public relations services to Albergue Olimpico, Hotel Caribe Hilton, Molinos de Puerto Rico, Mortons of Chicago, Maxon Engineering Services, and Universidad del Sagrado Corazon. Euro RSCG Worldwide, the world's fifth-largest advertising agency network, is a global network of 221 agencies located in 75 countries throughout Europe, North America, Latin America, Asia Pacific, and the Middle East. Euro RSCG provides advertising, marketing services, corporate communications, and interactive solutions to global, regional, and local clients. The network's client roster includes Intel Corporation, WorldCom, PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. Peugeot Citroen, Credit Suisse Group, Danone Group, Air France, Yahoo!, and LVMH LVMH Moët Hennessy-Louis Vuitton (upscale retailer) . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Euro RSCG Worldwide is the largest unit of Havas Advertising, the world's fifth-largest communications group (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : HADV - Euronext Paris SA: HAV HAV hepatitis A virus. HAV abbr. hepatitis A virus HAV Hepatitis A virus, see there .PA). |
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