August 09, 2000 12:53
:NEW NEWS"
CBQ, Inc. Announces Appointment of New President
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WASHINGTON--(BUSINESS WIRE)--Aug. 9, 2000--CBQ, Inc., The E-Business Marketplace (OTC BB:
CBQI-news), announced today several major personnel shifts, as part of the consolidation of its
operations in Washington, D.C. and the acquisition of the Quantum Technology Group.
The new President of CBQ, Inc. will be John Moran, currently the President and CEO of Baltimore-based
Quantum Technology Group. Mr. Moran will continue as the President of Quantum, which was acquired
by CBQ, Inc. on Monday, August 7, 2000.
Greg I. Allen, who was President and CEO of both Reliance Technologies, Inc. and TopherNet, Inc.,
which are based in Dallas, Texas, has resigned his positions with CBQ and its affiliates.
"John Moran has an excellent background in management, and expertise in telecommunications and
E-Business. We are looking forward to a long and productive relationship with him," said Bart S. Fisher,
Chairman and CEO of CBQ, Inc.
In addition, Ray Kostkowski, formerly the CEO of Quantum, will become the Vice-President for Mergers
and Acquisitions of CBQ, Inc.
"Ray Kostkowski has demonstrated his ability to spot valuable properties and grow enterprises. We will
rely heavily on his deal-making expertise," Fisher said.
Biographies of both Mr. Moran and Mr. Kostkowski are attached to this release.
John M. Moran has been President of Quantum Technology Group since April 2000. In that capacity he
is responsible for day-to-day operations of the business. Prior to this position he was President and CEO
of dpi Net Solutions Inc. where he was instrumental in the reduction of company overhead by more that
one million dollars while focusing the company on its core IT infrastructure business.
From 1992 to early 1999, Mr. Moran was Founder, President and CEO of Bio-Oxidation Services Inc., a
high technology medical waste processing start-up that he grew internally and through acquisitions to
over $7 million in sales in New York, New Jersey, Pennsylvania, Ohio, West Virginia and Bermuda.
In December 1997 he successfully sold Bio-Oxidation to the Harsco Corporation (NYSE: HSC), Camp
Hill, Pennsylvania. Prior to Bio-Oxidation, Mr. Moran spent 10 years in a variety of managerial positions
with the health care, consumer marketing and international divisions of Johnson and Johnson, New
Brunswick, New Jersey.
From 1988 to 1991 he was Vice President of Sales and Marketing for Corporate Capital Leasing of West
Chester, Pennsylvania. He joined Corporate Capital shortly after its start up and was instrumental in
growing the company to $12 million in revenue by focusing marketing strategy on financing emerging
environmental solutions.
Mr. Moran is the Founder, Chairman and principal stockholder of Service Service Inc., Annapolis,
Maryland, an internet/e-commerce development company focused on offshore e-commerce
opportunities. Mr. Moran is also the co-founder and principal stockholder of Oxidation Technologies Inc.,
a high technology environmental service company with offices in Annapolis, Maryland and Hamilton,
Bermuda.
He has more than 20 years experience in operating rapidly growing, privately held businesses, including
integrating acquisitions on ever an increasing scale.
Raymond J. Kostkowski has been Chairman and Chief Executive Officer of Quantum Net Technologies
since 1997. Mr. Kostkowski led Qnettech in its effort to grow through the acquisition of synergistic IT
companies. Mr. Kostkowski has had many years of experience in rapidly growing companies through
acquisition.
As President and CEO of Lucas Brothers Inc., a contract stationary supplier with over $80 million in
annual sales, Mr. Kostkowski was responsible for 12 acquisitions from Pennsylvania to North Carolina,
which were consolidated into Lucas Brothers operations via the development of a
customized/industry-specific software.
Lucas Brothers, and Office Products Network of North America (OPNNA), a national marketing and
purchasing business formed by Mr. Kostkowski with an excess of $1.2 billion in annual sales, were sold
to Corporate Express in 1994.
In 1997, Mr. Kostkowski sold Expert Office Services, Inc., a $30 million office product dealer in the
Baltimore/Washington area with a customer base of over 5,000 formed through a series of 7 acquisitions
utilizing a stock model, to US Office Products Company.
Mr. Kostkowski is also the major stockholder and chief executive officer of Orion Holdings, an
international service organization with annualized revenues in excess of $500 million.
About CBQ, Inc.
CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer-driven
e-business solutions.
Through its subsidiaries, Quantum Technology Group, Reliance Technologies, Inc. and Priority One
Electronic Commerce Corp., it provides a full range of networking services, software development, and
web-based solutions, as well as information technology outsourcing resources. For more information on
Quantum Technology Group, visit www.qnettech.com.
ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint venture partner with CCSoft
Technology Developing, Ltd. Its services include Software Development for Enterprise computing and
Internet development. For more information about CCSoft, visit www.ccsoft.com.cn. China Wireless, Inc.
is a subsidiary that is developing telecommunications projects in China.
China Partners is a subsidiary that facilitates international trade and investment opportunities between
companies in the United States and China. For more information on CBQ, Inc., visit www.cbq.com.
This news release includes forward-looking statements related to CBQ Inc. that involve risks and
uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth,
market acceptance of certain products and other risks.
These forward-looking statements are made in reliance on the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995. For further information about these factors that could affect
CBQ's future results, see the company's filings with the Securities and Exchange Commission (the
"Commission").
Prospective investors are cautioned that forward-looking statements are not guarantees of future
performance. Actual results may differ materially from management expectations.
CONTACT: CBQ Inc.
by
Joan Worden Public Relations
Joan Worden, 202/337-5411 |
