Business Services Industry
NewMarket Technology, Inc. in Beijing Presentation Announces Partnership to Build $20 Million Chinese Consumer Market Commerce Center in New Orleans Louisiana
Business Wire, Jan 29, 2007
NewMarket to Provide Full Lifecycle Consumer Market Technology Solution and Chinese Investment Partner to Provide Investment in New Orleans B2B Center
DALLAS -- NewMarket Technology, Inc. (OTCBB:NMKT) presented in Beijing, China earlier today at the Capital Club on Embassy Row. The Capital Club has been host to global heads of state to include former U.S. President George Bush and former German Chancellor Helmut Kohl. NewMarket CEO Philip Verges presented the company's global strategy to continuously introduce new technologies to new markets. NewMarket has pioneered a unique approach to financing early stage business initiatives in the micro cap market. The Company was recognized in 2006 as the third fastest growing technology firm in the U.S. in the Deloitte Fast 500. The Company reported $52 million in profitable revenue in 2005 and expects to report record profits on $70 million in 2006 revenue. NewMarket derived approximately 25% of its revenue in 2006 from China.
During the presentation in Beijing, Mr. Verges announced a Chinese Consumer Market Commerce Center to be built in New Orleans, Louisiana. A Chinese investment group will invest up to $20 million for the New Orleans project. NewMarket will provide a technology solution to create a state of the art B2B marketplace, facilitating the efficient introduction of high quality Chinese manufacturing into the U.S. consumer markets.
"We are privileged and very excited to be part of this project," said Mr. Verges, regarding the New Orleans - Chinese Consumer Market Commerce Center. "The Mayor's Economic Development Department in the City of New Orleans has been instrumental in getting this project off the ground. Significantly, the investment community in China has been very responsive. This project will generate jobs in New Orleans, an enhanced market opportunity for quality Chinese manufacturers and a showcase client for NewMarket. On behalf of New Orleans, our Chinese investment partners and NewMarket, I would like to thank the Capital Club for bringing today's event together."
The Chinese Consumer Market Commerce Center will be a U.S. corporation. NewMarket will have a minority equity position in the U.S. corporation and a substantial multi-year technology services contract. Further details on the technology services contract will be forthcoming and the Chinese investment is subject to the approval of local authorities.
Separately, NewMarket recently publicly listed the company's Chinese operations, NewMarket China, Inc. (OTCBB:IICP). NewMarket's Chinese operation will report approximately $20 million in revenue in calendar year 2006. The company has forecasted a 100% increase in revenue for 2007 to $40 million. NewMarket's forecast of rapid growth in China is based on expanding partnerships and the organic growth of clients.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket assists clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (Nasdaq:MSFT), Cisco Systems (Nasdaq:CSCO), SAP (NYSE:SAP), Siebel (Nasdaq:ORCL) and Sun Microsystems (Nasdaq:SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. NewMarket maximizes shareholder return on investment by independent listing of consolidated regional and emerging technology subsidiaries in order to issue subsidiary stock in shareholder dividends.
"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.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Freudenberg IT Invests $38 Million for Growth
- Research and Markets: Israel Ophthalmic Devices Investment Opportunities, Analysis and Future Forecasts Through to 2015
- Research and Markets: Emerging APAC (China) Networking Opportunity 2009 - Addressing a Growing Demand in a Downturn Economy
- Research and Markets: Indian Small & Medium Businesses SaaS Channel Partners 2009 - A Growing Opportunity in a Challenging Business Environment
- Research and Markets: Nippon Oil Corporation LNG Export and Import Markets, 2000 to 2015 Report - Profile and Analysis and Forecasts of Terminal Wise Capacity and Associated Contracts
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- Using object-oriented analysis and design over traditional structured analysis and design
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions




