Midway Games sends word that it has just established a studio in Germany to be known as Midway Games GmbH. It'll be headed up by Uwe Fuerstenberg and will essentially serve as the distribution center in the German region. Its first major release will be Shadow Hearts: Covenant
while titles such as Unreal Championship 2
and Area 51
MIDWAY EXPANDS INTERNATIONAL OPERATIONS INTO GERMANY
Industry Veteran Uwe Fuerstenberg to Head New Office
CHICAGO â€“ February 1, 2005 â€“ Midway Games Inc. (NYSE: MWY), a leading developer and publisher of interactive entertainment software, today announced that it has expanded its international operations with the formation of a new subsidiary, Midway Games GmbH, and the opening of a new office in Munich, Germany. Midway Games GmbH is responsible for all of Midway's sales, marketing and distribution in Germany. Midway's new office will be headed up by industry veteran, Uwe Fuerstenberg.
"Growth in the European territories is a major initiative for Midway," said David F. Zucker, president and chief executive officer of Midway. "This expansion into Germany will allow Midway to continue its strategy of becoming one of the industry's top publishers."
"Germany is a key European territory for Midway, and one we're keen to improve our market share within," said Tony Adams, managing director for Midway Games Ltd. in London, UK. "We consider ourselves very fortunate to have a seasoned industry veteran like Uwe Fuerstenberg running this new operation, and look forward to his future contribution."
"This is a very exciting time for the new team here in Germany," said Uwe Fuerstenberg, general manager, Midway Games GmbH. "We look forward to Midway Games GmbH being a huge success in 2005 and beyond. The strength of Midway's current line-up, coupled with the addition of PC self-publishing makes this the optimum time to expand into the German marketplace."
The first new product release from Midway Games GmbH in its territory will be the award-winning Shadow Hearts: Covenant, scheduled to launch March 11 exclusively for the PlayStationÂ®2 computer entertainment system. Other new releases for Midway Games GmbH in the first of half of 2005 include Unreal Championship 2: The Liandri Conflict for the XboxÂ® videogame system from Microsoft, NARC (PS2, Xbox), and the highly anticipated Area 51 (PS2, Xbox).
Headquartered in Chicago, IL with offices in San Diego, CA, Seattle, WA, Austin, TX , Los Angeles, CA, and London, UK, Midway Games Inc. (NYSE: MWY) is a leading developer and publisher of interactive entertainment software for all major video game systems. More information about Midway can be obtained at www.midway.com.
This press release contains forward-looking statements concerning future business conditions and the outlook for Midway Games Inc. (the "Company") based on currently available information that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, the upcoming console platform transition and other technological changes, dependence on major platform manufacturers and other risks more fully described under "Item 1. Business - Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2003, and in the more recent filings made by the