NewMarket Technology Inc. Updates Homeland Security Strategy; Defense Technology Inc. Announces New CEO Russell Medina
05 November 2005 - 5:28AM
Business Wire
NewMarket and Defense Technology to Concentrate on Homeland
Security Solutions for Municipalities and Developing Economic
Allies NewMarket Technology Inc. (OTCBB:NMKT) today announced that
its affiliate Defense Technology Systems Inc. (OTCBB:DFTS) has
appointed Russell Medina as the new Chief Executive Officer. Mr.
Medina's appointment represents another landmark event in Defense
Technology's rebuilding and repositioning as a Homeland Security
Innovator. Mr. Medina will also join the Defense Technology Board
of Directors. Mr. Medina has consulted with NewMarket Technology
Inc. over the last two years and was instrumental in the
development of NewMarket's Homeland Security strategy that led to
the combination of NewMarket and Defense Technology's Homeland
Security operations earlier this year. Revenue from this
acquisition will be reflected in Defense Technology's upcoming
Annual Report filing. Mr. Medina brings a wealth of defense
industry experience to the Company as a retired career Army Officer
and graduate of the United States Military Academy at West Point,
N.Y. His distinguished military career is highlighted by his
experience procuring special systems for various projects with the
Department of Defense (DoD) that included integration with all
military services, as well as other government agencies. His
military experience in battlefield communications led him to a
successful post-military telecommunications career concentrated in
the introduction of new products and services. Mr. Medina has CEO
experience with an emphasis in early financing of new business
ventures. "Mr. Medina is the right choice to lead Defense
Technology Systems' repositioning as a Homeland Security
Innovator," said Dan McPhee, the outgoing CEO. "His military
systems experience combined with his background in high growth new
ventures is the right set of skills to lead Defense Technology in
its next stage of development and growth." "I am excited to join
Defense Technology's team," said Mr. Medina. "The terrorist threat
has changed defense strategies and the defense system requirements
to support new strategies. A need for a nimble defense technology
innovator has arisen. The Defense Technology team has identified
and repositioned for that need. I have the good fortune of coming
into a business already poised for rapid growth." About Defense
Technology Systems, Inc. The Company has recently implemented a
revitalization and redirection plan to leverage its experience in
providing digital communication infrastructure solutions to Fortune
1000 companies and expand into providing overall Homeland Security
solutions to major metropolitan municipalities. To accelerate the
plan, Defense Technology earlier this year acquired a majority
interest in an established defense engineering firm with 20 years
of experience and a portfolio of proprietary technologies. The
acquired company is a leading edge technology company specialized
in engineering hardware and software solutions when
commercial-off-the-shelf (COTS) products do not fulfill the
critical requirements of enterprise, military or government
organizations. In the acquisition, Defense Technology also
established a strategic equity partnership with NewMarket
Technology Inc. (OTCBB:NMKT) expected to accelerate organic sales
growth of Defense Technologies products. Management intends to
expand its Homeland Security product portfolio through further
acquisition. For more information on Defense Technology Systems,
Inc. visit: www.DefenseTechnologySystems.com. About NewMarket
Technology Inc. (www.newmarkettechnology.com) NewMarket Technology
Inc. is a Systems Innovation Company. NewMarket has combined a
traditional systems integration and support services capacity with
a specialized asset-based approach to assisting its clients with
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) and Sun
Microsystems (Nasdaq:SUNW). At the same time, 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's emerging technology portfolio includes products for the
Telecommunications, Healthcare, Homeland Security and Financial
Services industries. NewMarket delivers its portfolio of products
and services through its global network of Solution Integration
subsidiaries in North America, Latin America, China and Singapore.
As a Systems Innovator, NewMarket has set itself apart from the
systems integration market through the introduction of a technology
business model that monetizes the value of emerging technologies to
improve corporate profits and enhance shareholder value with the
regular issue of dividends. This press release contains statements
(such as projections regarding future performance) that are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and
uncertainties, including but not limited to those detailed from
time to time in the Company's filings with the Securities and
Exchange Commission.
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