New Ricardo Subsidiary Launched in India

VAN BUREN TWP., Mich. - The formal launch of Ricardo India Private Limited underscores the commitment of Ricardo to providing an improved and expanded service to clients in India, one of the world's fastest developing markets -- and serves to emphasize the increasing global reach and ambition of the company.

Ricardo has enjoyed a long and successful history of providing engineering and consulting services to Indian customers across a wide range of market sectors, ranging from two and three wheeled vehicles to passenger cars, commercial vehicles and the power generation industry. The company's numerous ongoing projects for Indian customers encompass a broad range of disciplines, including engine and transmission engineering, control and electronics and strategic consulting. As a leading global developer of clean, high fuel- economy and low CO2 vehicle technologies, Ricardo has found its services in demand from Indian customers as they seek to satisfy the increasingly stringent demands of legislators and consumers in both the domestic Indian and international markets.

To consolidate the recent significant growth of Ricardo's Indian business, and to provide a solid foundation for its further development, a wholly owned New Delhi based subsidiary, Ricardo India Private Limited, has been formed. The new company was officially launched on the evening of November 2 at a ceremony at the ITC Maurya Hotel, New Delhi. The event took place in the presence of Richard Stagg, British High Commissioner to India and Dr. Rajendra Pachauri, chairman of the U.N. Intergovernmental Panel on Climate Change (which shares the 2007 Nobel Peace Prize with former U.S. Vice-President, Al Gore).

Ricardo India Private Ltd. will be chaired by Surjit Singh Kalra, who has been Ricardo's representative in India for over 20 years. He will be supported by executive vice president Trevor Downes, who has worked for Ricardo in the U.K. since 1996 in roles including diesel engine development and testing as well as in operational management positions.

(Nov 5, 2007)