Altai Resources Inc. Creates Information Technology Subsidiary.TORONTO--(BUSINESS WIRE)--May 20, 1999-- Altai Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. )(US Sec. Rule 12g3-2(b) File No. 82-2950) ("Altai") has created an information technology division which will be incorporated shortly into a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Company. Focusing on corporate customers who need to solve real-world business problems, the information technology division will bridge the gap between those who have recognized problems and requirements on the one hand and those with information technology and products on the other. Initially the new division will concentrate on challenges and opportunities in: -0-
-- Web-based presentation of information through eCommerce and
eBusiness solutions
-- Data extraction and integration to knowledge-management systems
-- Related IT system development and business processes.
Altai has identified opportunities in the above areas, and discussions with the several key developers of prospective technologies have started. The Company will obtain technology products through outright purchase, licensing arrangement or marketing rights. With immediate effect, Mr. David Butler has been nominated as President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Dr. Eric S. Wheeler as Vice President Corporate Development and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the new information technology division. David Butler has been involved in electronic and information technology with a number of companies including Panasonic and Sharp. He has extensive senior and middle management experience, and has had success in start-up software business ventures. Eric Wheeler earned his Ph.D. in computational linguistics computational linguistics (CL) Use of digital computers in linguistics research. The simplest examples are the use of computers to scan text and produce such aids as word lists, frequency counts, and concordances. from the University of Toronto Research at the University of Toronto has been responsible for the world's first electronic heart pacemaker, artificial larynx, single-lung transplant, nerve transplant, artificial pancreas, chemical laser, G-suit, the first practical electron microscope, the first cloning of T-cells, in the Software Development Lab. Since 1993, he has been consultant to the technology industry in the field of business processes. Information technology industry is a fast growing, very competitive field with great reward and concomitant risk. Altai's mineral exploration culture, which also entails great risk and reward, will serve the Company well in this additional undertaking. |
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