NewMarket Technology, Inc. Announces World Bank Scholar Dr. James Jiang as CEO of Chinese Subsidiary With Responsibility Over $85 Million in Forecasted Revenue
DALLAS, TX--(Marketwire - February 4, 2010) - NewMarket Technology, Inc. (PINKSHEETS: NWMT)
today announced World Bank Scholar Dr. James Jiang as the Chief Executive
Officer of NewMarket's Chinese subsidiary. NewMarket has forecasted $150
million in overall revenue for 2010 with $85 million expected from the
Chinese subsidiary. Dr. Jiang has been with NewMarket since 2006, managing
the Company's local operations in China. His responsibilities and
authority are now expanded as the CEO of the independently listed public
company.
"It gives me great pleasure to present our new CEO of the Chinese
subsidiary," stated Paul Danner, the exiting CEO of the Chinese subsidiary.
"Dr. Jiang is a talented executive who has been instrumental to the
Company's growth in China over the past few years, and we are delighted he
has accepted the appointment as Chief Executive Officer."
Mr. Danner remains with NewMarket in an expanded role as the Director of
Worldwide Business Operations. He will be working to maximize the
horizontal integration of business operations and opportunities across all
the NewMarket companies, and to improve activity reporting of all the
companies in support of the Company's $1 billion five-year profitable
revenue objective.
"The Director of Worldwide Business Operations is a newly created position
and part of NewMarket's plan to reach $1 billion in profitable annual
revenue within the next five years," said Bruce Noller, NewMarket CEO. "In
his previous role as CEO of our Chinese subsidiary, Mr. Danner greatly
exceeded all performance expectations by significantly growing outsourcing
services in China, delivering on the recent acquisition to expand the
Chinese operations into ODM services, and leading both revenue and net
income growth within the NewMarket family of companies the past two years."
About Dr. James Jiang
Dr. James Jiang has over 18 years of senior executive management experience
in the information technology and wireless industries. His management
resume includes posts with various multinational firms including British
Telecom, Telular Corp, Singapore Technologies and GaozhiSoft. Dr. Jiang
has extensive knowledge of GSM and GPRS cellular systems and architecture,
3G wireless communications, and Internet technologies. In 1996, he
developed and launched AirTrak, China's first e-commerce service to deliver
commerce information from the Internet via a wireless network, and was the
Chief Architect of a dynamic web content cache engine and mobile
application platform. Dr. Jiang holds two patents in Vi-ter-bi Decoding
and Dynamic Contents Extraction, and is a World Bank Scholar.
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About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
where technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the growing
economies of China, Southeast Asia, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies. NewMarket's rapid growth since 2002
has placed the Company on the Deloitte Technology Fast 500 for 5
consecutive years. NewMarket was recognized as the third fastest growing
technology company in the United States in 2006 and the number one fastest
growing technology company in North Texas for two years in a row.
"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.
Contact Information: Contact:
NewMarket Technology, Inc.
Investor Relations
214-722-3065
ir@newmarkettechnology.com