PARA news....low float....
06/01 10:22 Paratech Resources, Inc. is Awarded an Office Automation Solution
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Paratech Resources, Inc. is Awarded an Office Automation Solution Contract
By Aer Lingus
JERICHO, N.Y., June 1 /PRNewswire/ -- Paramount Financial Corporation (Nasdaq: PARA), a comprehensive asset management and business solution provider, has announced that its network integration and Information Technology subsidiary, Paratech Resources, Inc., has been awarded a contract by Aer Lingus (North America) for a comprehensive Office Automation Solution. The solution, which incorporates system components including messaging, desktop upgrade and application suite deployment, and electronic commerce, was implemented on behalf of Ireland's national airlines North American Headquarters in Melville, New York. The facility which is the airlines only U.S.A.- based administrative location, is currently responsible for five U.S.- based gateways including JFK Airport in Jamaica, NY; Newark Airport in Newark, NJ; Logan Airport in Boston, MA; and O'Hare Airport in Chicago, IL. A fifth gateway in Los Angeles, will officially open on May 28th of 1999.
According to Aer Lingus Vice President - Information Technology and Facilities for North America William E. Kane, "Aer Lingus recognized that in order to be competitive, it was incumbent upon us that our systems reflect cutting-edge technologies which would facilitate the highest standards of customer service, while also projecting a state-of-the-art image to the corporate sector and general public at large."
He continued, "Over the past three years, Aer Lingus has tripled in size providing 1.2 million seats across the Atlantic. To support our growing base of travelers with convenience, easy access and communications, our goal was to implement a solution incorporating voice messaging, Internet, Intranet and Extranet capabilities. Paratech designed a solution which effectively achieved that objective and impressed us as a highly qualified IT partner who could support our automation needs into the future."
"Paratech has successfully completed Phases 1 and 2 of the Aer Lingus project which entailed establishing the desktop upgrade and providing Internet access," stated Mr. Kane. "They are now in the process of rolling-out the solution to the remote sites. The balance of the project will involve providing a more extensive messaging capability, and establishing a North American Headquarters website that will hyperlink to Aer Lingus' web site in Dublin, while enhancing and complimenting it."
In winning the Aer Lingus contract, Paratech competed against six firms. Mr. Kane noted that the Company impressed him as one which would fully serve Aer Lingus as an IT partner. "More importantly, we were impressed with the high caliber of their personnel, from Senior Account Executive Phyllis Hershkowitz to their IT professionals, who continually offer sound and creative recommendations to address our needs. Since we do not have internal support, I did not simply want a systems vendor, but rather a true IT partner, who offered a single source solution and could keep me informed on important technology developments that could further enhance Aer Lingus' customer service, productivity and profitability. Paratech has proven to be that partner."
Paramount Financial Corporation is a business solution provider, offering customers a wide range of integrated services, including lease finance, IT consulting, network design and implementation, and staffing services. The Company's stock is traded on the NASDAQ stock exchange under the symbol PARA.
Statements contained in this press release which are not historical facts are forward-looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein contain a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, the specific factors impacting the Company's business, including increased competition; the availability of computer equipment; the ability of the Company to expand its operations and attract and retain qualified sales representatives experienced in the purchase, sale and lease of new and used computer equipment; the ability of the Company to attract and retain IT professionals skilled in specific applications; the ability of the Company to attract and retain qualified personnel in the legal staffing sector; technological obsolescence of the Company's portfolio of computer equipment; competition in the IT consulting sector and general economic conditions. SOURCE Paramount Financial Corporation
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/CONTACT: Donna M. Autuori of Autuori Corporate Communications, Inc., 516-969-0958/
/Web site: paramountfin.com -- NYTU043 -- 0506 06/01/99 10:06 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved.
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