Elcom Board of Directors Appoints New Directors
22 Avril 2006 - 12:30AM
PR Newswire (US)
NORWOOD, Mass., April 21 /PRNewswire-FirstCall/ -- Elcom
International, Inc. ("Elcom" or the "Company") (OTC:ELCO) (BULLETIN
BOARD: ELCO) and (AIM: ELC and ELCS), a leading international
provider of remotely-hosted eProcurement and eMarketplace
solutions, today announced that four of its Directors, Robert J.
Crowell, the Chairman, William W. Smith, the Vice-Chairman, Mr.
Richard J. Harries, Jr. and Mr. John W. Ortiz, stepped off the
Board of Directors (the "Board") as their pre-dated resignations
became effective today. This arrangement was previously agreed to
with the new majority stockholders of Elcom on March 23, 2006, as
announced at that time. The two remaining members of the Board,
John E. Halnen, President and CEO and Sean P. Lewis, subsequently
appointed Mr. Elliot Bance of Caterham, Surrey, U.K., and Mr.
Justin Dignam of Orange, California, to the Board. Robert J.
Crowell, on behalf of all the departing Directors, commented, "The
departing Directors would like to thank all of Elcom's clients and
strategic partners that assisted Elcom over the past several years
and most importantly, all of the associates of the Company, as they
built the foundation for Elcom's future success." John E. Halnen,
Elcom's President and CEO, stated, "I am pleased that Elcom now has
a deeper pool of potential capital to help support Elcom's growth
in the future. On behalf of the management of Elcom, I would like
to thank all of the previous Directors for their efforts over the
years. Looking to the future, I look forward to expanding the
client base for Elcom's eProcurement and eMarketplace products in
the government and private sectors around the world." Elcom Product
Offerings For detailed information on Elcom's PECOS(TM) technology
and optional Dynamic Trading functionality, please visit Elcom's
website at: http://www.elcominternational.com/products.htm. About
Elcom International, Inc. Elcom International, Inc.
(OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS) (BULLETIN BOARD: ELCO
and AIM: ELC and ELCS) , is an international B2B Commerce Service
Provider offering affordable solutions for buyers, sellers and
commerce communities to automate many or all of their procurement
processes and purchase most or all of their goods and services in a
'private' eMarketplace system. PECOS, Elcom's remotely-hosted
flagship solution, enables enterprises of all sizes to achieve the
many benefits of eProcurement and eMarketplace functionality, with
the system hosted by Elcom at its own data center, eliminating the
burden and cost of in-house programming, IT infrastructure and
ongoing catalog content and system management. More information is
available from Elcom's integrated web site at:
http://www.elcominternational.com/. Statement Under the Private
Securities Litigation Reform Act Except for the historical
information contained herein, the matters discussed in this press
release could include forward-looking statements or information.
All statements, other than statements of historical fact,
including, without limitation, those with respect to the Company's
objectives, plans and strategies set forth herein and those
preceded by or that include the words "believes," "expects,"
"targets," "intends," "anticipates," "plans," or similar
expressions, are forward-looking statements. Although the Company
believes that such forward-looking statements are reasonable, it
can give no assurance that the Company's expectations are, or will
be, correct. These forward-looking statements involve a number of
risks and uncertainties which could cause the Company's future
results to differ materially from those anticipated, including: (i)
the ability of the Company to retain key executives; (ii) the
necessity for the Company to generate incremental operating
revenues and whether this objective can be met given the overall
marketplace and client's acceptance and usage of eCommerce software
systems, eProcurement and eMarketplace solutions including
corporate demand therefore, the impact of competitive technologies,
products and pricing, particularly given the substantially larger
size and scale of certain competitors and potential competitors,
and control of expenses, revenue growth; (iii) the consequent
results of operations given the aforementioned factors; and (iv)
the necessity of the Company to achieve profitable operations
within the constraints of its existing resources, and if it can
not, the availability of incremental capital funding to the Company
and other risks detailed from time to time in its 2005 Annual
Report on Form 10-KSB, as amended and in its other SEC reports and
statements, including particularly the "Risk Factors" contained in
the prospectus included as part of the Company's Registration
Statement on Form S-3 filed on June 21, 2002. Company Contact:
Investor Relations e-mail: DATASOURCE: Elcom International, Inc.
CONTACT: Investor Relations of Elcom International, Inc., Web site:
http://www.elcom.com/
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