(BSNS WIRE) Banyan Announces Doublecase Corporation Update
Banyan Announces Doublecase Corporation Update
Business Editors
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--June 6, 2001--Banyan
Corporation (NQB Pinks: BANY) announces that the Board of Directors of
Doublecase Corporation, a wholly owned subsidiary of Banyan, has
appointed W. Bruce Leithead III as President of Doublecase.
Doublecase specializes in the manufacture of hard-sided protective
carrying cases for notebook computers and other portable electronic
equipment. Mr. Leithead, formerly Vice President of Sales and
Marketing of Doublecase, was previously a National Account Manager
with Adidas. "I am looking forward to the opportunities that lie ahead
as Doublecase is moving quickly in the right direction," Mr. Leithead
commented. "We have just received confirmation from a major computer
manufacturer for a significant Doublecase order. Beyond this, I am
looking forward to driving our products into various retail channels
in order to achieve maximum profit for the company." In furtherance of
this goal, Doublecase is pleased to announce that it has retained the
services of Arkrich & Associates International Marketing Group, which
consists of 12 independent sales agencies located across the United
States which will be selling the Doublecase line of products.
In order to facilitate this expansion, Doublecase is relocating
its corporate offices, production and warehouse facilities from
Colorado Springs, Colorado, to Alabaster, Alabama, by the end of the
month. Mr. Leithead stated, "Relocating our facility to Alabama will
be extremely cost effective for Doublecase and, as it is a much larger
facility, will allow us to handle the expected increase in production
which we are anticipating from many of our new sales initiatives."
Mr. Leithead's appointment is effective immediately.
Banyan Corporation is a publicly traded holding company focused on
investing in and building a network of operating subsidiaries engaged
in various innovative businesses. Currently, the company's wholly
owned subsidiary, Chiropractic USA, Inc., is focusing on the
development of branded Chiropractic clinics throughout North America
by way of acquisitions of existing clinics as well as the development
of corporate clinics in partnership-type arrangements with its
practitioners. In addition, Banyan's wholly owned subsidiary,
Doublecase Corporation, sells a line of hard-sided protective carrying
cases for notebook computers and other portable electronic equipment
under the Doublecase brand name. Doublecase's products are currently
available through distribution from Ingram Micro and sold through a
wide variety of Internet e-commerce storefronts, computer mail order
catalogs, Value Added Resellers (VARs), a number of overseas vendors,
and to the U.S. government.
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information
included in this press release (as well as information included in
oral statements or other written statements made or to be made by
Banyan Corporation) contains statements that are forward-looking, such
as statements relating to the future anticipated direction of the
high-technology industry, plans for future expansion, various business
development activities, planned capital expenditures, future funding
sources, anticipated sales growth and potential contracts. Such
forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future,
and, accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of Banyan Corporation.
These risks and uncertainties include, but are not limited to, those
relating to development and expansion activities, dependence on
existing management, financing activities, domestic and global
economic conditions, changes in federal or state tax laws, and market
competition factors. For a description of additional risks and
uncertainties, please refer to Banyan's filings with the Securities
and Exchange Commission.
--30--LVD/dx*
CONTACT: Banyan Corporation
Michael Gelmon, 800/808-0899,
E-mail: mgelmon@banyancorp.com
KEYWORD: COLORADO ALABAMA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS MANUFACTURING RETAIL
E-COMMERCE MANAGEMENT CHANGES
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