Covista Communications, Inc. Announces Opening of New Call Center and Plans to Relocate Corporate Headquarters.Business Editors LITTLE FALLS Little Falls is the name of some places in the United States of America:
Covista Communications, 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 : CVST CVST Chinese Visiting Scholars in Toronto (Canada) ) has announced the opening of a new call center facility in Chattanooga, Tennessee “Chattanooga” redirects here. For other uses, see Chattanooga (disambiguation). Chattanooga is the fourth-largest city in Tennessee (after Memphis, Nashville, and Knoxville), and the seat of Hamilton CountyGR6 . At the same time, Covista announced that it is planning to relocate its corporate headquarters from its current location in Little Falls, New Jersey Little Falls is a Township in Passaic County, New Jersey, United States. As of the United States 2000 Census, the township population was 10,855. Little Falls was incorporated as a township by an Act of the New Jersey Legislature on April 2, 1868, from portions of , to Chattanooga. John Leach, Covista's President and Chief Executive Officer, said: "The Chattanooga environment presented several unique and attractive opportunities for us. Our Chairman, Henry Luken, lives here and is a prominent member of the local community. The costs of real estate are substantially below those in New Jersey, enabling us to maintain three separate facilities here by the time all our contemplated operations are up and running. Also, our labor and other operating costs should be significantly reduced for those business functions that are able to be relocated here." Mr. Leach added that Covista is expected to retain a presence in New Jersey even after the headquarters relocation is completed. "We have a substantial base of commercial retail and wholesale business in the northeastern United States that is the foundation upon which Covista was established. We are not intending to abandon that business, even as we look to expand to new products and new market segments." The call center, located in a former department store building, is able to accommodate up to 200 seats, according to Mr. Leach. Presently, the Company employs approximately 60 people in Chattanooga, and Mr. Leach already has relocated his own office there. The Company's 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. , Kevin Alward, will continue to be based in the Company's current offices in Little Falls. In addition to the new corporate headquarters, which is expected to be housed in a downtown landmark building that was the former home to The Provident Companies for most of the last century, the Company is moving forward with its plans to construct a separate telecommunications switching and interconnection facility in another area of Chattanooga. "We believe that Chattanooga can become a major telecommunications center for this part of the country," said Mr. Leach, "and we intend for Covista to be a leader in that development." About Covista: Covista is a facilities-based long distance telecommunications, Internet and data services provider with a substantial customer base in both the commercial and wholesale market segments. Its products and services include a broad range of voice, data and Internet solutions, including long distance and toll-free services, calling card, frame relay, Internet access, VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. , directory assistance and teleconferencing services. The wholesale division provides domestic and international termination services to carriers worldwide at competitive rates. Covista currently owns and operates switches in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Newark, New Jersey, and previously has announced plans to expand to additional switch sites in Philadelphia, Las Vegas, Chicago and Dallas, together with the new facilities in Chattanooga. The Company previously announced that it has acquired access to nation-wide telecommunications network facilities comprising 2,822,400,000 DS-0 channel miles of additional capacity. The Company operates a Network Operations Center See NOC. Network Operations Center - (NOC) A location from which the operation of a network or internet is monitored. Additionally, this center usually serves as a clearinghouse for connectivity problems and efforts to resolve those problems. in Little Falls, New Jersey to monitor its switched network and to coordinate its various services. For information on becoming a Covista customer, please telephone (888) 426-8478 or visit the Company's website at www.covista.com. Information Relating to Forward-Looking Statements: This press release contains historical and forward-looking statements made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Investors are cautioned that forward-looking statements such as statements of the Company's plans, objectives, expectations and intentions involve risks and uncertainties. The cautionary statements made in this release should be read as being applicable to all related statements wherever they appear. Statements containing terms such as "believes," "expects," "plans," "projects," "intends," "estimates," "anticipates," or similar terms, are considered to contain uncertainty and are forward-looking statements. The actual results could differ materially from those discussed. Factors that could contribute to such differences include: changes in market conditions and increased competition from other telecommunications and Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ; government regulations; the volatile and competitive environment for Internet telephony; advances in competitive products or technologies that could reduce demand for services; availability of transmission facilities; management of rapid growth; customer concentration and attrition; the ability to successfully integrate acquired companies; the ability to successfully develop and bring new services to market; and other risks discussed in the company's SEC filings, including Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Form 10-Q Form 10-Q See 10-Q. , which can be accessed at the SEC Web site at www.sec.gov. Readers of this release should understand that it is not possible to predict or identify all such risk factors. Consequently, this list should not be considered a complete statement of all potential risks or uncertainties. Covista does not assume the obligation to update any forward-looking statement, except as is required by applicable law. |
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