Conac Software Implements Re-Structuring Plan To Reduce Overhead By Over 40 Percent.Business Editors RICHMOND, British Columbia--(BUSINESS WIRE)--April 4, 2002 CONAC CONAC Continental Air Command CONAC Center of North America Coalition for Rural Development (North Dakota, USA) SOFTWARE CORPORATION ('COT-V'), April 04, 2002. Conac Software is in the process of implementing a restructuring plan to reduce overhead expenses by over 40% Conac has implemented a restructuring plan that will significantly reduce its overheads by over 40%. Through the consolidation of its departments, the Company is downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing R&D costs because its products have now reached maturity. In conjunction with this cost reduction, Conac is focused on increasing its market share globally through mergers and alliances with strong synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. partners. It has already signed a definitive agreement with an overseas partner, Macrobuild. Com Inc., for the Greater China region including Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and is in the process of finalizing a definitive agreement with Keelor Corporation Limited, for the European, Australian and South American markets. Both these partners have identified Conac as having the "right stuff" they are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. in products and technology. Leveraging their connections with large construction companies in their respective regions, the partners will establish Conac's products globally. Conac's growth through its strategic mergers and alliances has re-affirmed its commitment to become a profitable entity in the near future. Dev Wadhwani, Director of Business Development states: "The Company is finally on the right track in becoming an industry leader. Our future is looking bright with regards to establishing our products in the overseas markets. We are very confident with our new alliances with Macrobuild and Keelor Corporation. Conac's vision is clear in becoming a world leader by year 2003. I see a complete turn-around for this Company and a considerable increase in share value. Conac is on a path to a strong recovery with the implementation of its strategic plan." Conac Software Corporation is the leading edge specialist in project oriented and financial software for the Construction Industries. Since 1984, Conac's innovative and easy-to-use products have grown in market acceptance among general contractors A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. , home builders, sub trades, designers and engineers and has become the standard for the construction industry in Canada. The Company's integrated software Separate software components or applications that have been combined into one package. See integrated software package. products control every facet of the Construction Management process. On behalf of Conac Software Corporation "Jacqueline Michael" Jacqueline Michael, President To learn more about Conac Software Corporation, visit our website at: www.conac.com or www.conac-ir.com The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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