Axial Vector Forms New Subsidiary to Make Acquisitions.Summary: Axial axial /ax·i·al/ (ak´se-al) of or pertaining to the axis of a structure or part. ax·i·al adj. 1. Relating to or characterized by an axis; axile. 2. Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (FWB (Fixed Wireless Broadband) See fixed wireless. : BAE1) today announced the formation of 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. ; AVEC Strategic Acquisitions Corporation. Axial Vector Forms New Subsidiary to Make Acquisitions Axial Vector Energy Corporation ("AVEC") (Pink Sheets: AXVC) (FWB: BAE1) today announced the formation of a wholly owned subsidiary; AVEC Strategic Acquisitions Corporation. Mr. Sanjai Chhaunker, new 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. of Axial Vector, stated, "Our strategic plan calls for acquiring businesses that complement our core technology and allow our revenue stream to grow more rapidly. With the proper structure and financing now in place, we will proceed to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... our discussions on companies that we have researched and identified as strategic to our plans." The new company will be headed by Mr. Chhaunker who will be working closely with Mr. Behzad Khakouei, Director 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. of AVEC. The companies being looked at have been monitored and examined closely by Mr. Khakouei and his team during the past six months. Mr. Khakouei commented, "Now that we have our new CEO and the subsequent establishment of AVEC's new subsidiary, we are now in a position to execute the deals that will propel AVEC to the forefront of clean, efficient energy suppliers." *Source: ME NewsWire on behalf of Business Wire 2008 Al Bawaba (www.albawaba.com) 2008 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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