Coin Bill Validator Names Bill Wood President Of Newly Created Beverage And Vending Division.HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 31, 1996-- Announces Major New Contract For Beverage Market Coin Bill Validator, Inc. (Nasdaq NM: CBVI) ("CBV CBV - call-by-value ") today announced that it had created a separate division to specifically address growth opportunities in the domestic and international beverage and vending industries. The new division will be headed up by Bill Wood who has been president of CBV since 1993. Mr. Wood will have direct responsibility for all business development and sales and marketing activities aimed at the beverage and vending industries. CBV Chairman 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. Stephen Katz
Stephen Katz (1946 in New York City – 18 October, 2005 in Plano, Texas) was an American teacher and screenwriter. said, "The creation of the new beverage and vending division is part of our strategy to reposition CBV to aggressively grow our share in all segments of the global validator business. As president of the new division, Bill will be able to leverage his extensive experience and expertise in the beverage and vending industries to help us gain market share in a business segment where we have tremendous upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar . In addition, we have taken a number of steps, including strengthening key management positions, intensifying in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: our R&D efforts for new product development and focusing on improving all facets of our engineering and manufacturing processes so that we can better serve all of our markets." Katz announced that the new division has been launched with the company's first contract to provide validators for use in beverage vending machines vending machine, coin-operated, automatic device for selling goods. Many vending machines are capable of making change, and some of the more sophisticated ones accept paper money or credit cards. in a major international market. The new contract calls for an initial order of more than one thousand validators that will be delivered by year-end 1996 and installed in beverage vending machines by a U.S.-based original equipment manufacturer. Contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent the successful performance of the units, the contract calls for an additional purchase of more than one thousand additional validators during the first half of 1997. Division president Wood said, "We're very excited about working with two world-class companies on this contract. In addition, we're honored to have the opportunity to enter a country that has a well developed, high-tech vending industry which very few U.S. companies have been able to penetrate. We believe there is considerable potential for CBV products in this, as well as many other international markets in the beverage and vending segment and we plan to be very aggressive in our efforts to gain market share worldwide." Coin Bill Validator, Inc. is a U.S. based designer, manufacturer, and marketer of paper currency validation systems used to automate payment in the gaming and vending industries worldwide. The Company's proprietary technologies are among the most advanced in the industry. CONTACT: Joseph D. Pititto Director, Investor Relations Investor relations The process by which the corporation communicates with its investors. (516) 887-0744 |
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