Contact Information: Contact: China Crescent Enterprises, Inc. ir@chinacrescent.com 214-722-3060
China Crescent Enterprises, Inc. Announces Management Restructuring and Reconstitution of Board
| Source: China Crescent Enterprises, Inc.
DALLAS, TX--(Marketwire - January 5, 2010) - China Crescent Enterprises, Inc. (OTCBB : CCTR )
today announced that a substantial management restructuring and
reconstitution of the board of directors is in the works. The details are
planned to be released at the upcoming Virtual Town Hall scheduled for
January 22nd, 2010.
"China Crescent and the NewMarket Technology family of companies have grown
substantially from their entrepreneurial foundation," said Philip Verges,
founder and board member of China Crescent and CEO and Chairman of
NewMarket Technology, Inc. "The NewMarket family of companies will be
undergoing a management and director change as a substantial part of a next
step in growth and maturity beyond our entrepreneurial foundation. We
anticipate the management changes to have a positive impact on the overall
potential for continued growth."
The management and director changes are expected to take place in phases
beginning February 1, 2010 and continuing through April 1, 2010.
China Crescent Virtual Town Hall January 22, 2010
China Crescent plans to release a 2009 Virtual Town Hall on January 22,
2010. The Virtual Town Hall agenda includes a review of 2009, a preview of
the Company's plans for the year ahead and an outline of plans to evolve
the Company's growth strategy while adopting lessons learned.
The Virtual Town Hall is scheduled to be made available online to
interested viewers on their own schedule and from their own location.
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About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.