Ericsson Employee joins a "Positioning Technology" Startup !
** Thanks to Good Friend, Helgo @ the TNOR Thread **
Message 10253895
TECHNOR: Ericsson executive named Managing Director of Technor's CellPoint Systems
JUN 24, 1999, M2 Communications - STOCKHOLM, SWEDEN -- Technor International (NASD: TNOR) is pleased to announce the appointment of Hadar Cars as Managing Director of subsidiary CellPoint Systems operations group. Mr. Cars was formerly Senior Business Manager with Ericsson (Nasdaq: ERICY) and has been working with large Asian, Latin American and European clients in the fast-growing cellular industry. Most recently, he was responsible for Ericsson's sales and marketing of UMTS, or 3rd generation cellular systems. UMTS (Universal Mobile Telecommunications System) is the follow-up to the GSM cellular success and will be the base for the true "Wireless Internet" as it is rolled out at the beginning of the next millenium.
"Having experience in the cellular industry, and the next generation Wireless Internet systems in particular, I know first hand the tremendous value these positioning applications and services can bring to the cellular operators and other companies," said Cars. "Positioning is a massive growth area and I am very enthusiastic to drive CellPoint's leading technology to the market on a large scale."
"Hadar has the international industry experience and clear vision of how positioning can add value in the new cellular world," said Peter Henricsson, Chairman and CEO of Technor International. "The range of applications we already have and those that are being developed for use in our field-proven positioning platform were key to Hadar's decision to move into this strategic growth area. We are confident he has the drive and ambition needed to lead the Company to an enviable position in the market. That he leaves his responsibilities with Ericsson 3rd Generation cellular systems is a testament to the long term potential of our technology."
Technor International is a US company whose CellPoint System technology uses the Internet and cellular networks to determine physical locations similar to satellite-based Global Positioning Systems (GPS) but with the additional capability of determining location inside buildings, parking garages and other shielded areas such as inside a pocket or briefcase that are inaccessible to GPS systems. There are more than 160 million GSM subscribers worldwide. Technor recently announced a contract with Tele2 in Scandinavia, has filed the Form 10SB to qualify for trading on the Nasdaq exchange, has established alliances with companies throughout the world, and has several significant contracts pending or in negotiation.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties which may cause actual results to differ from those described.
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