Contact Information: Contact: NewMarket China, Inc. ir@newmarketchina.com 214-722-3065
NewMarket China, Inc. Featured by WallSt.net in Interview of New CEO, Paul K. Danner, Discussing Plans to Grow From $40 Million in 2007 Revenue to $50 Million in 2008
New CEO to Lead Expansion Into New Lines of Business and Next Phase of Aggressive Growth Signaled by Name Change to China Crescent Enterprises, Inc.
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - June 10, 2008) - NewMarket China, Inc. (OTCBB : NMCH ) CEO Paul K.
Danner is featured today in an interview by WallSt.net:
http://tv.wallst.net/3-minute-press/94/472/NMCH/paul-danner/newmarket-china-inc/.
Mr. Danner was recently announced as the Chief Executive Officer of
NewMarket China. Since launching operations in January of 2005 and growing
to $40 million in profitable revenue in 2007, the Company has been
positioning itself for its next stage of aggressive growth. Mr. Danner has
been working with the outgoing CEO, John T. Verges since February. Mr.
Danner originally joined NewMarket Technology to spearhead the Company's
merger & acquisition efforts throughout Asia. He is now taking the reins as
CEO to lead NewMarket China into new lines of business intended to
substantially enhance the Company's net income, while continuing to improve
the performance of existing business operations, maximizing revenue and
profitability.
NewMarket China, Inc. reported a profitable $40 million in revenue in 2007.
The Company recently reported $8.5 million in Q1 2008 revenue, a 20%
increase in revenue over Q1 2007, and $97k in net income before currency
translation compared to a $16k loss for the same period last year.
Corporate Name Change to China Crescent Enterprises, Inc.
NewMarket China recently announced its intentions to change the Company's
corporate name to China Crescent Enterprises, Inc. This change is part of
the Company's overall plan to better position the Company for business
development in the Asian market. China offers many opportunities, and often
times they are quite different from those available in North America.
The Company is well on its way to completing the name change. The process
typically takes 30 to 60 days to complete, and the Company is targeting a
completion of the process by the end of June. The new corporate name was
chosen to capture the symbolism of a waxing crescent moon. The lunar cycle
is intertwined within Chinese culture, and the name is designed to draw
parallels between the light that is shed on a waxing crescent moon and the
rapid growth of China's emerging economy.
China Conference Scheduled for June 23, 2008
The Company's previously announced live conference, scheduled for June 23,
2008, will discuss the name change and the Company's forward-looking plans.
If you would like to attend, please contact Whitney Marks at
wmarks@newmarketchina.com or 214-722-3052 to reserve a seat.
Mr. Danner has extensive senior management experience leading fast growth,
publicly listed companies, in addition to having extensive experience
managing operations in Asia. Before joining NewMarket, Mr. Danner was the
Chief Executive Officer of Paragon Financial Corporation, a publicly listed
company he formed in 2001 to acquire financial services institutions. Prior
to founding Paragon, Mr. Danner was employed by MyTurn.com, Inc., a
NASDAQ-listed company, where he served in a variety of leadership roles
including Chief Executive Officer. Previous corporate positions with a
number of Fortune 100 technology companies including Control Data and NEC
provided managerial and executive level experience in sales, marketing,
operations, finance and manufacturing. Mr. Danner earned a Bachelor of
Science degree in Business Finance from Colorado State University in 1979,
and an MBA from Old Dominion University in 1986. From 1979 to 1985 Mr.
Danner served on active duty with the United States Navy flying the F-14
Tomcat. Currently, he is a Captain in the United States Navy Reserve and is
currently assigned as the Chief of Staff, Naval Air Systems Command Reserve
Program at Naval Air Station Patuxent River, Maryland.
Corporate E-mail Updates
To be added to NewMarket China's e-mail database to receive company updates
or to obtain more information on the Company, please send an e-mail to
ir@newmarketchina.com or call 214-722-3065.
About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing
Chinese market specializing today in software engineering, high quality
software development and digital multimedia outsourcing services delivered
to customers globally. At the same time, the firm is a systems integrator
and value added reseller of major global hardware brands in the Chinese
domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket
China bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. NewMarket China
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.