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-Porsche's MHP sets up unit in US - report.

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

29 September 2011 - Mieschke Hofmann und Partner (MHP) has established a subsidiary in the USA, MHP's CEO Ralf Hofmann said in an interview with German specialised car magazine Automobilwoche published today.

Hofmann explained the move, saying that a major part of his company's customers are already working on the US market and the new subsidiary will enable MHP to improve its support for their projects.

A central part of MHP's growth strategy is the expansion abroad and as the world's largest automotive market USA is naturally very important, the CEO said. He also expects the expansion to result into a significant boost in revenues.

MHP, which is a unit of German sports car maker Porsche (ETR:PAH3), has recently expanded its operations in Germany as well, opening its sixth office in the country in the middle of July.

The company, which provides IT services to the automotive sector, has annual revenues of some EUR70m (USD95.4m).

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Publication:Internet Business News
Date:Sep 29, 2011
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