( BW)(GREENLAND-CORP)(GLCP) Greenland Corp. Organizes Advisory Board
Business Editors
SAN DIEGO--(BUSINESS WIRE)--May 28, 1998--Greenland Corp. (NASDBB:GLCP) today announced that it has organized an advisory board, consisting of five professionals that
bring significant business experience related to Greenland's two operating divisions: Check Central and AirLink automated meter reading.
"These distinguished professionals will have an extremely positive, near-term impact on the management of Greenland," said Eric Gaer, chairman and chief executive officer. "Each
brings considerable successful experience that will assist the Company in achieving the objectives of its business plan."
E.P. (Gene) Cross serves as chairman of the advisory board. He retired in 1997, as executive vice president and chief financial officer of Borg Warner Industrial Products (BWIP International Inc., currently Flowserve Corp.), a large international manufacturing company with more than $500 million in annual revenues. Cross has been consulting a variety of companies involved in high technology development and manufacturing.
Lee R. Swanson is president of Greenland Corp. He has more than 25 years of management and financial experience in corporate and manufacturing organizations. He has previously
served as president of Gateway Education Products, a $100 million educational products company. Additionally, he has held executive operations positions at Pleion Corp., Pacific Environmental Management, Nemark Industries, and Kaiser Aluminum and Chemical Corp., among others. He received his degree from Roosevelt University.
Guy R. Nelson, a member of the board of directors of Greenland, also serves as a member of the company's advisory board. He retired in 1997 from the Western Area Power Administration, a federal agency, where he had been Energy Services Manager since 1985. Prior to his tenure at Western Area Power, Nelson served as Director of the Environmental Protection Agency's (EPA) Industrial Technology Transfer Division. He is a board member of the American Council for an Energy Efficient Economy and the Utility Forum.
George Godwin serves as a member of the advisory board. Until recently, he served as vice president, Nuclear Business Unit, of BWIP International Inc. He previously held the positions of general manager and regional sales manager of a BWIP division serving the utility industry. He holds a degree in industrial engineering from Tennessee Tech, and has extended management studies at UCLA and the University of Michigan.
Steven D. Burningham has also joined the advisory board of Greenland. He is currently president and chief executive officer of Burningham International Distributors Inc., which provides financial service consulting to banking, check cashing, and pawn broker industries. Previously, he served as chief executive officer of Any Kind Check Cashing Centers Inc., a $23 million company operating more than 60 company-owned locations and 10 franchises in eight states. Burningham is a past president of the California Check Cashers Association and a vice president of the National Check Cashers Association. He received his degree from the University of Utah.
Earlier this week, Greenland acquired Check Central, developers of proprietary technology to provide automated check cashing, money orders, and ATM services from free-standing kiosks in retail locations.
The payroll check cashing industry serves a population that transacts approximately one trillion dollars annually. This market segment is estimated to be as large as 28 percent of U.S.
households. The industry generates more than $1 billion in fees annually.
Greenland's other business unit has been developing proprietary technology for the utility industry. The company's AirLink system is a patent-pending wireless communication technology for use in automated meter reading for utilities, a market with vast possibilities. The primary application of AirLink is to serve the information gathering needs of utility companies, a $15 billion market in the United States, where approximately 300 million residential utility meters are installed to monitor the use of electricity, natural gas and water.
Greenland has contracts to install AirLink pilot systems in three U.S. cities in Connecticut, Oregon, and Utah. It has additional agreements with a number of companies associated with providing services to electric utilities, which are faced with deregulation. Additionally, the company has a number of international agreements to provide its technology.
This press release may consist of forward-looking statements that involve risks and uncertainties. Such statements are subject to risks and uncertainties that could cause the actual results to differ materially. Readers are referred to the documents filed by Greenland Corp. with the Securities and Exchange Commission.
Greenland Corp. ("Greenland" or the "Company") from time-to-time files various documents with the U.S. Securities and Exchange Commission, issues press releases to inform shareholders and the investment community of significant operating activities of the Company and discusses the Company's operating activities with the investment community which may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which reflect the Company's then-current judgment on those issues. In various disclosures, words such as "gratifying", "highly qualified", "progress", "encouraged", "growth", "strengthening", "enthusiastic", and other similar expressions are used to identify forward-looking statements. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially.
Investors in and/or shareholders of the company are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The company undertakes no obligation to publicly release updates or revisions to these statements. |
