Dawson Science Corp. Appoints One of the `Top 10 Entrepreneurs' in China as
President/CEO
PR Newswire, Tuesday, April 15, 1997 at 06:17
RENO, April 15 /PRNewswire/ -- Dawson Science Corp. (NASDAQ:DWSC) and its
new leadership sets new direction of the Company. The newly appointed
President and CEO, Mr. Wu (Zhi Jian), is the energy behind this new direction.
Mr. Wu is reported in the Chinese media to be one of the 10 richest men in
China and he was given the "Top 10 Entrepreneurs" award by the Chinese
government. He is considered, by many, to be one of the modern visionaries
for China.
The new vision for Dawson Science Corp. is to become the largest
transportation company in China extending into 28 provinces. Transportation
is the number one priority of the Chinese government. Mr. Wu stated in an
interview, "We have a very ambitious development plan for our transportation
division. Vice Premier Mr. Wu Bonkou stated in a State Council that 1997 will
be the year for a greater effort in the development of the country's
transportation industry. We plan to expand our vehicle leasing and
transportation business throughout the 28 provinces and cities of China;
building up a nation-wide small-sized vehicle leasing network, just like the
small-sized vehicle and transportation industries in the United States. We
plan to build up a nation-wide network for our business and this will be a
first in China." (translated from Chinese)
The new Board of Directors has appointed the accounting firm of Price,
Waterhouse in China to prepare the consolidated meeting statements for the
Dawson/Shenghua merger.
With this new focus, the Board of Directors has decided to sell its newly
acquired Net Quote, Inc. to a company whose main focus is internet
technologies. Also, the Board of Directors has agreed to discontinue the
Glass Factory project in Northern China because it has become so capital
intensive.
SOURCE Dawson Science Corp.
-0- 04/15/97
/CONTACT: Cathy Cosby, Corporate Secretary of Dawson Science,
702-828-1313/ |
