Applied Cellular Technology Inc. Announces the Appointment of Kevin O'Keeffe to the Position of Managing Director of Applied Cellular Technology International Ltd.NIXA, Mo.--(BUSINESS WIRE)--Aug. 7, 1997--Applied Cellular Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) announced today that the company has created the subsidiary Applied Cellular Technology International Ltd. and has appointed Kevin O'Keeffe to the position of Managing Director of that subsidiary. Mr. O'Keeffe brings over 35 years of industry experience to his position as Applied Cellular expands to the overseas markets. "We are excited that Kevin O'Keeffe has joined our company and will help Applied Cellular become an application service solution provider to the global wireless industry. Mr. O'Keeffe brings a great deal of management experience and has been involved with multi-billion-dollar companies as they completed strategic acquisitions to further enhance shareholder value, which is consistent with Applied Cellular's strategy," stated Richard J. Sullivan, the 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. of Applied Cellular Technology Inc. Kevin O'Keeffe has formed a very impressive resume' during his tenure at major corporations in the UK, Europe, and US. He was engaged mainly in financial and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , particularly in the acquisition and management of small to medium sized companies. Mr. O'Keeffe worked in a number of industries including nuclear power, engineering, mining, and retail and wholesale distribution. After receiving degrees in Physics from the prestigious Cambridge University Cambridge University, at Cambridge, England, one of the oldest English-language universities in the world. Originating in the early 12th cent. (legend places its origin even earlier than that of Oxford Univ. and in Economics from London University, Kevin O'Keeffe spent nine years in nuclear power station operations and in the Planning Department of the Central Electricity Generating Board in the U.K. He then went to RTZ RTZ Rio Tinto Zinc RTZ Return To Zero RTZ Return to Zork (game) RTZ Retail Trade Zone Corporation PLC, the world's largest mining and metals group with sales of $7.4 Billion, where he was promoted to Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against Manager with RTZ industries. From 1974 to 1982 Mr. O'Keeffe helped with the successful restructuring of Booker PLC following the loss of their traditional business. Booker PLC was a conglomerate with interests in food distribution, agriculture, engineering, health foods and shipping, but currently generates the majority of its $6.6 Billion in sales from food distribution. As Director of Planning and Business Development, Kevin played a major role in restructuring and building the Dee Corporation PLC, a UK supermarket and food wholesaling business with sales in excess of $3 Billion. By refocusing the company's business and completing strategic acquisitions and disposals Mr. O'Keeffe helped Dee's profits before tax grow from $15 million in 1982 to over $138 million in 1986. During that same period Kevin was also the Chairman of Dee's operations in Northern Ireland and Spain. During the period from 1986 to 1988 Mr. O'Keeffe served as the President of the Dee Corporation of America Inc., 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 Dee Corporation PLC, a distributor of sporting goods in the USA. Simultaneously, he held the position of Chairman of Herman's Sporting Goods Inc., based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . From 1990 to 1996 he served as a director of Northumbrian Fine Foods PLC, a food manufacturer and distributor specializing in cookies and cakes with sales of $46 million. "Mr. O'Keeffe will oversee our newly acquired Signal Processors Ltd., based in Cambridge, England. We believe that he has the ability to help us grow SPL (1) (Systems Programming Language) The assembly language for the HP 3000 series. See assembly language for an SPL program example. (2) (Structured Programming Language) See structured programming. 1. into a $40 million company over the next three years as the demand for satellite communications equipment skyrockets," stated Richard J. Sullivan. Applied Cellular Technology, Inc. is a specialty telecommunications and high-technology company whose focus is to capitalize on the industry's move from analog to digital Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in 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 Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. CONTACT: Applied Cellular Technology Inc., Nixa Matt Hayden or Vince Buczek, 803/272-4653 |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion