Fortune 10 Corporation Selects NuTech Solutions' HEURO Product.Business Editors/High Tech Writers CHARLOTTE, N.C.--(BUSINESS WIRE)--Sept. 5, 2002 NuTech Solutions, Inc. ("NuTech"), a premier provider of predictive analytics and profit optimization software products to Global 1000 companies, announced today that it has signed a licensing agreement with ChevronTexaco (NYSE NYSE See: New York Stock Exchange : CVX CVX ChevronTexaco (stock symbol) CVX Comunidad de Vida Cristiana (Christian Life Community) CVX Code Veronica X (game) CVX Critical Viscosity of Xenon CVX Carrier, Experimental ) for NuTech's HEURO optimization environment. Based on a collection of sophisticated heuristics, HEURO will be used by ChevronTexaco and NuTech as an integrated optimization platform for the joint development of an advanced scheduling system to enhance oil production, and reduce production costs, in the San Joaquin Valley Noun 1. San Joaquin Valley - a vast valley in central California known for its rich farmland Calif., California, Golden State, CA - a state in the western United States on the Pacific; the 3rd largest state; known for earthquakes of California by improving the scheduling of cyclic steam operations. The first release of the scheduler to ChevronTexaco's operations is scheduled for November 2002. NuTech Solutions' other recent successes include the signing of a licensing agreement with General Motors (NYSE: GM) for NuTech's Vehicle Distribution System (VDS (Virtual DMA Services) A programming interface that lets bus mastering devices cooperatively manage DMA channels. ), as well as the appointments of Lech Walesa, the former President of Poland, and Hugh McColl, Jr., the former 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. of Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE: BAC BAC abbr. blood alcohol concentration ), to its board of directors. About NuTech Solutions, Inc. NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing, and retail industry, as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech's products produce measurable increases in financial performance for its users. The company's current client roster includes General Motors, Ford Motor Company, Bank of America, Siemens, BB&T, ChevronTexaco, BMW, Beiersdorf, U.S. Department of Defense, Corning, Polish National Air Force, FujiTec, and Unilever. Forward-looking (safe harbor) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward looking statements. |
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