ClearWorks Changes Corporate Name to Reflect Growth Strategies
ClearWorks.net is New Identity
HOUSTON--(BUSINESS WIRE)--April 27, 1999--ClearWorks Technologies Inc. (OTC BB:CLWK - news) announced today that it has changed its corporate name to ClearWorks.net, effective immediately.
The Houston-based company, incorporated on Oct. 1, 1997, has been pioneering the concept of bundled digital services utilizing Internet technology in residential communities, and has recently expanded into the commercial sector.
ClearWorks.net, a turnkey provider of voice, data and video services, seeks to become the industry leader in integrated voice, data and video solutions, utilizing Internet Protocol (IP) technology. As such, the company anticipates that the use of high-speed, fiber-based solutions focused on the ''Last Mile'' problem will revolutionize the use of the Internet.
According to ClearWorks CEO Michael T. McClere, ''Our new corporate name more accurately reflects where our company is headed with Internet technology. We've positioned ourselves as a provider of
integrated digital services to homes and offices, so it seemed appropriate to have our corporate name reflect the focus of our efforts.''
Earlier this month, ClearWorks announced that it had reorganized its operations into two wholly owned subsidiaries: ClearWorks Residential Services Inc. and ClearWorks Commercial Services Inc. The residential component, which is actively involved in providing bundled digital services to two new housing developments totaling 2,700 homes in the Houston area, will continue to focus on adding new markets in private residences.
The new commercial services activity, McClere noted, brings the bundled digital concept to office buildings and commercial structures. ''We plan to leverage off the infrastructure and expertise we've
already developed in the residential market,'' McClere said, ''to develop the enormous potential of our commercial services operation.'' ClearWorks projects an additional $10 million in revenue from the
commercial operation in its first year of business. It also recently announced the acquisition of Archer Mickelson Technologies L.L.C., a fast-growing systems-integration firm in Houston.
ClearWorks.net will continue to trade on the over-the-counter bulletin board market under the stock ticker symbol CLWK.
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