Modern Technology Corp Launches Asia and Far East Operations
28 Septembre 2004 - 3:30PM
PR Newswire (US)
Modern Technology Corp Launches Asia and Far East Operations Sunil
Dwivedi Assumes Managing Director Position OXFORD, Miss., Sept. 28
/PRNewswire-FirstCall/ -- Modern Technology Corp. (OTC:MOTG)
(BULLETIN BOARD: MOTG) , a business development and acquisition
company, announced today that it has expanded its activities to the
Asia and the Far East markets. To manage operations in these
regions, the company has appointed Sunil Dwivedi as managing
director. Mr. Dwivedi has over 14 years of senior management and
engineering experience in the telecommunications, information
technology and energy industries. His background includes positions
with noteworthy organizations such as Reliance Infocomm, Escotel,
KPMG Peat Marwick and Siemens Limited. "We are fortunate to add
Sunil's impressive depth of experience to our team," said Anthony
Welch, Modern Technology Corp chairman. "He is a perfect fit for
attracting synergistic companies to our growing portfolio. His
expertise in corporate strategy, technology management and business
development, along with the numerous professional relationships he
has developed during his career, will produce many new
opportunities for Modern Technology Corp. His engagement represents
our latest action in continuing the execution of our acquisition
and expansion plans." "I look forward to representing Modern
Technology Corp in Asia and the Far East," said Sunil Dwevidi. "I
believe the company's unique acquisition model will be attractive
to a number of growing companies. The strategy creates a
"win-win-win" situation for the portfolio companies, the
shareholders and Modern Technology Corp." In August 2004, Modern
Technology Corp announced it had expanded its operations to Europe,
the Middle East and Africa, under the direction of Managing
Director Colin Inker. The launch of the Asia and Far East
operations positions Modern Technology Corp. to capture
opportunities throughout the world. In addition, Modern Technology
Corp. signed a letter of intent to acquire New Jersey-based Sound
City, a specialty audio video consumer electronics retailer with
2003 revenues of $10 Million and expected 2004 revenues of $12
Million. The company also added a minority position of DeMarco
Energy Systems (PinkSheets: DMES) to its portfolio of companies and
expects to announce other acquisitions in the very near future.
With these recent additions, Modern Technology Corp continues to
execute its growth strategy through acquisitions, market
development and revenue expansion. The Modern Technology
acquisition model is based on it unique Forward Capitalization
model for making acquisitions, consistently building market value
while simultaneously mitigating, or eliminating, negative dilution
of common stock. The Company devised it Forward Capitalization
model to facilitate its qualification for a larger national market
exchange in the near future. About Modern Technology Corp. Founded
in 1982, Oxford, Mississippi-based Modern Technology Corp (MOTG) is
a business development and acquisition company, focused on growth
by strategic acquisitions and subsequent market and revenue
expansion. MOTG provides business infrastructure, substantial
intellectual capital, strategic investments, and ongoing support
and revenue growth assistance to each individual company within its
portfolio. In addition, MOTG provides mentoring and assistance
through collective operations experience, significant industry
contacts, and strategic and tactical advice. The company's mission
is to consistently build shareholder equity through accretive
acquisitions, to continue providing both stock and cash dividends
to its shareholders, and to create and promote synergistic
relationships among portfolio companies and affiliates. For more
information, visit the company's web site at:
http://www.moderntechnologycorp.com/ . Safe-Harbor Statement 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. Company Contacts: Media
Contact: Susan Cable Vice President of Marketing +1-623-465-5929,
DATASOURCE: Modern Technology Corp. CONTACT: Susan Cable, Vice
President of Marketing of Modern Technology Corp., +1-623-465-5929,
Web site: http://www.moderntechnologycorp.com/
Copyright