Elcom International announces $100 million three year procurement contract with Smith Barney.NORWOOD, Mass.--(BUSINESS WIRE)--Oct. 21, 1996--Elcom International 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 : ELCO ELCO Eastern Lebanon County (school district, Pennsylvania) ELCO El Camino ELCO Electrolytic Capacitor ELCO Early Opening Local Census Office ELCO Electronic Company ), announced today that Catalink Direct Inc., its PC remarketing subsidiary, has signed a definitive agreement with Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. to provide a variety of computer equipment including Compaq personal computers for use in Smith Barney's offices nationwide. The contract includes Smith Barney's NextGen Project, which involves the rollout of approximately 20,000 Compaq PC's to about 500 Smith Barney branches and is forecast to be worth in excess of $100 million of revenues to Catalink Direct over a three year period. Jim Rousou, Catalink Direct's 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. stated, "We are extremely pleased to have been selected as one of Smith Barney's partners for it's NextGen Project and to be part of what is surely one of the largest PC procurement agreements ever awarded in the private sector. We believe this agreement is further validation of our PECOS electronic commerce technology which will allow Smith Barney to streamline its ordering process for the replacement of PC's and peripherals." Robert J. Crowell, Elcom International's Chairman and CEO added, "The marketplace in general is just becoming aware of the customer convenience factors, incremental productivity, and efficiency enhancements which our PECOS electronic commerce system creates. We believe we are standing on year number one as far as the emergence of electronic commerce is concerned." Mike Weinberg Michael Andrew Weinberg (born February 16 1993) is an American child actor. Weinberg was born in Los Angeles, California to Jewish parents Larry Weinberg and Dana Gindoff, and is the younger brother of actor Matt Weinberg. , an Executive Vice President at Smith Barney, said, "We have worked closely with Catalink and Compaq in planning the NextGen Project. For over a year now we have been procuring our PC products utilizing Catalink's PECOS electronic ordering technology and soon plan to rollout a version of PECOS customized by Elcom Systems which will streamline our purchasing process Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements . We look forward to working with Catalink on NextGen and beyond." Through its Catalink Direct subsidiary, the Company uses its PECOS technology to market PC products electronically. Catalink Direct operates 17 field sales and support offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and five offices in the United Kingdom. The Company develops and licenses proprietary client/server transaction-based software systems which enable the conduct of PC-based interactive electronic commerce on private and/or Internet Protocol networks. The Company's proprietary PECOS technology is licensed by Elcom Systems Inc., its wholly-owned technology subsidiary, to companies in various industries which allows them to create interactive electronic catalog and ordering systems which facilitate the conduct of electronic commerce with their customers. Statement Under 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 With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, economic, competitive, governmental, technological and/or other factors, which are outside the control of the Company. CONTACT: Morgen Walke Associates Inc. David Walke or Lee Foley, 212/850-5600 morgan-walke.com invrel@elcom.com http://www.elcom.com or Investor Relations Investor relations The process by which the corporation communicates with its investors. Automated System, 617/440-3303 |
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