Cirmaker Structures Management and Advisory Teams For International Growth
February 12 2004 - 6:30AM
PR Newswire (US)
Cirmaker Structures Management and Advisory Teams For International
Growth NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- Cirmaker
Technology Corp. (OTC Bulletin Board: CRKT), which manufactures set
top boxes for the digital TV market, CPU coolers for computers and
electronic components, today announced that the company has named
management and advisory teams reporting to President Bill Liao to
develop international operations and financial support. The new
management titles and positions are: -- Mr. Liao has assumed the
additional title of Chief Executive Officer, consistent with his
leadership position in the company; -- Grace Chang has been named
Chief Financial Officer, in addition to her existing title of
General Manager in Taiwan. -- Wiliam Chen, who joined Cirmaker last
year, has been named Chief Development Officer, China Operations.
In this new position, he heads up marketing and business
development for Cirmaker's operations in the Peoples' Republicof
China. Mr. Chen successfully started and ran businesses in
import/export, metals and construction in Taiwan and also
co-founded and ran a telecommunications business in Canada, which
was subsequently acquired by a NASDAQ-listed company. "William Chen
is an entrepreneur with significant experience in Asian and North
American business development and management," said President and
CEO Bill Liao. "His experience will be instrumental in our
development of a leadership position in the digital television
market in China." President and CEO Liao also announced that
Charles Skeele, who joined Cirmaker last year, has been named
General Manager, U.S. Operations. Previously, Mr. Skeele was the
CEO and CFO of Cirmaker. A graduate of the Harvard Business School,
Mr. Skeele was chief executive officer of Microsource CAD/CAM from
1984 to 1997. Mr. Skeele will work with the company's advisory
teams to oversee relations with U.S. investors and development of
business opportunities in the U.S. "Cirmaker has demonstrated
enterprise and agility in moving from its traditional manufacturing
business to specialized product and market development," said Mr.
Skeele. "Our management and advisory teams are focused on control,
communications and compliance to assure that rapid growth brings
financial success." President and CEO Bill Liao said, "Cirmaker is
rapidly becoming an international company, supplying set top boxes
for digital TVs, cooling systems for personal computers and
electrical parts to many continents. We eventually expect to market
products directly in the U.S. Therefore, it is necessary for us to
begin the planning process to make this expansion a reality.
Charlie Skeele's experience in U.S. information technology company
management makes him an ideal leader of Cirmaker's U.S. operations.
We believe that with the engagement of The Vine Group as strategy
and finance advisor; Livingston, Wachtell & Co. as U.S.
auditor; Urbach Kahn & Werlin Advisors, Inc. as international
tax advisor; and a U.S. legal counsel; we have the right team in
place to carry Cirmaker forward in the U.S." Evelyn YK Lee,
managing director of the Vine Group, advises Cirmaker on strategic
management and on business and financial development. Inthis role,
Ms. Lee works with the company's Board to plan the growth and
financing of Cirmaker worldwide and to coordinate the efforts of
the Vine Group's professional team and Cirmaker's legal and
financial partners with company management. The Vine Group
specializes in providing strategic, financial and corporate
advisory services to Asian-based clients that are publicly listed
in North America. Prior to organizing the Vine Group, Ms. Lee was
the managing principal for First Venture Fund LLC, a private equity
venture fund that focused on seed investments in hi-tech companies.
About Cirmaker Technology Corp. Headquartered in Taiwan with
offices in New York City, Beijing, and Guangdong province, Cirmaker
Technology manufactures cooling systems for laptop and personal
computers, electrical and electronic components and 3G MHP (3rd
generation multimedia home platform) digital set top boxes for
television sets. Cirmaker has developed set top boxes that convert
digital television broadcast signals into analog formats so that
analog TV sets can receive digital programming. The system also
receives, processes, stores and broadcasts analog, digital and
streaming media signals, and supports pay-per-view and
video-on-demand functions. Cirmaker believes it is the only 3G MHP
STB manufacturer operating in China able to produce in volume a
device that meets all the required standards of Chinese
broadcasting authorities. It also complies with all international
HDTV standards for high definition television. Forward Looking
Statements The matters discussed in this news release contain
forward-looking statements, including statements regarding
Cirmaker's ability to be a leader in the digital television market
in China and its ability to eventually market its products in the
United States. These statements are subject to various risks,
uncertainties and other factors that could cause actual results to
vary materially from the results anticipated in such
forward-looking statements. Such risks, uncertainties and other
factors include Cirmaker's potential inability to raise additional
capital, its potential inability to compete with other companies
that may be more experienced and better capitalized than Cirmaker,
changes in domestic and foreign laws, regulations and taxes,
changes in economic conditions, uncertainties related to the legal
systems in Cirmaker's target markets, including, China's legal
system and economic, political and social events in China and other
target markets, foreign relations between Taiwan, China and
Cirmaker's other potential target markets, a general economic
downturn, a downturn in the securities markets, Securities and
Exchange Commission regulations which affect trading in the
securities of "penny stocks," and other risks and uncertainties
detailed from time to time in Cirmaker's filings with the
Securities and Exchange Commission. These forward-looking
statements represent management's judgment as of the date of this
release. Cirmaker disclaims any intent or obligation to update
these forward-looking statements. For more information, please
contact: Cirmaker Technology Corporation Stern & Co. Charles R.
Skeele Truc N. Nguyen General Manager, US Operations VP, Investor
Relations Telephone: 917-639-4098 Telephone: 212-888-0044 Email:
Email: DATASOURCE: Cirmaker Technology Corp. CONTACT: Charles R.
Skeele, General Manager, US Operations, Cirmaker Technology
Corporation, +1-917-639-4098, ; Truc N. Nguyen, VP, Investor
Relations of Stern & Co., +1-212-888-0044, , for Cirmaker
Technology Corp.
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