ATEC Group's Nexar Division Receives $6 Million Commitment to Provide PCs To Northeast Retail Chain.HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Sept. 9, 1999-- ATEC ATEC Army Test and Evaluation Command (US Army; formerly OPTEC, Operational Test & Evaluation Command) ATEC Australian Tourism Export Council ATEC Advanced Technologies (Hamburg, Germany) Group Inc. (Nasdaq:ATEC) today announced that its PC manufacturing division, Nexar(R), has received a commitment valued in excess of $6 million to provide PCs to a multi-location retail computer chain in the Northeast. The stores will sell Nexar's Enable series, a value line aimed at individual consumers. To date, ATEC Group has already shipped more than 800 units of the Nexar systems to this retail chain. The new commitment is for additional shipments of at least 200 units every week for one year. "We are very pleased to have received a commitment from this major regional retail chain, which joins two other retail chains now selling Nexar products," said Surinder Rametra, ATEC Group's chief executive officer. "We believe this new relationship will provide us with increased visibility in the consumer market, an important target for Nexar, and we look forward to further enhancing our market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" in this area. Indeed, we are in discussions with several other major distributors and retailers about carrying the Nexar line." About ATEC Group Inc. Based in Hauppauge, N.Y., ATEC Group Inc., is a PC manufacturer of Nexar XPA XPA Xeroderma Pigmentosum, Complementation Group A (protien) XPA X Public Access XPA Extra Points Attempted (football) technology, a leading system integrator and a provider of a full line of information technology products and services. As a one-stop company for the computer needs of businesses, government agencies and educational institutions, ATEC offers computer hardware and software, system integration networking, Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 remediation solutions, graphic arts graphic arts: see aquatint; drawing; drypoint; engraving; etching; illustration; linoleum block printing; lithography; mezzotint; niello; pastel; poster; silk-screen printing; silhouette; silverpoint; sketch; stencil; woodcut and wood engraving. , Internet and Intranet. The company is also positioned for growth in telecommunications, outsourcing of IT professionals and offshore software development. For more information on ATEC Group, please visit the company's Web site at www.atecgroup.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements that are not historical facts contained in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties including, but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission. |
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