Contact Information: NewMarket China, Inc. Investor Relations 214-722-3065 ir@newmarketchina.com
NewMarket China, Inc. Positions for Aggressive Growth and Announces Paul K. Danner to Board With 25% Organic Growth Forecast to $50 Million in Profitable Revenue
| Source: NewMarket China, Inc.
DALLAS, TX--(Marketwire - March 3, 2008) - NewMarket China, Inc. (OTCBB : NMCH ) today
announced the appointment of Paul K. Danner to the Company's Board of
Directors in conjunction with 2008 plans for aggressive growth. Mr. Danner
was recently announced as Managing Director of Asian Operations. As
Managing Director of Asian Operations, Mr. Danner will work closely with
local management in China and assist in organic business development
activities. NewMarket China has recently announced a 2008 25% organic
growth forecast to $50 million in profitable revenue. Mr. Danner will be
interviewing with CEOcast (www.ceocast.com) tomorrow at 9 AM EST to discuss
the Company's rapid revenue growth and plans to expand its regional
footprint through potential mergers and acquisitions.
The Company reported $29.5 million in revenue in 2006 and estimates
reporting $40 million in revenue for 2007. The Company has already reported
$27.9 million in revenue for the first three quarters of 2007 and has
maintained breakeven profitability for the last two years. The anticipated
revenue increase is based on expected organic growth from current
operations. Management is considering acquisition opportunities, as well as
investments to increase sales in North America, fulfilled from its Chinese
operations. Any potential revenue from prospective acquisitions will be
added to the 2008 forecast after any acquisition is completed.
Before joining NewMarket, Mr. Danner was the Chief Executive Officer of
Paragon Financial Corporation, an OTC Bulletin Board company he formed in
2001 to acquire financial services institutions. Prior to founding Paragon,
Mr. Danner was employed by MyTurn.com, Inc., a NASDAQ-listed company, where
he served in a variety of leadership roles including Chief Executive
Officer. Previous corporate positions with a number of Fortune 100
technology companies including Control Data and NEC provided managerial and
executive level experience in sales, marketing, operations, finance and
manufacturing. Mr. Danner earned a Bachelor of Science degree in Business
Finance from Colorado State University in 1979, and an MBA from Old
Dominion University in 1986. From 1979 to 1985 Mr. Danner served on active
duty with the United States Navy flying the F-14 Tomcat. Currently, he is a
Captain in the United States Navy Reserve and is assigned as the Deputy
Chief of Staff, Naval Air Systems Command Reserve Program at Naval Air
Station Patuxent River, Maryland.
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About NewMarket China, Inc. (www.newmarketchina.com)
NewMarket China, Inc. is a technology leader in the rapidly developing
Chinese market specializing today in software engineering, high quality
software development and digital multimedia outsourcing services delivered
to customers globally. At the same time, the firm is a systems integrator
and value added reseller of major global hardware brands in the Chinese
domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, NewMarket
China bridges the gap between Western and Eastern business cultures to
assist western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. NewMarket China
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"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.