Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : NovAtel - Global Positioning Systems -- Ignore unavailable to you. Want to Upgrade?

To: Roman who wrote (186)	9/14/1998 10:05:00 AM
From: Roman	Read Replies (1) \| Respond to of 191

FOR RELEASE 09/14/98 CONTACTS: William I.M. Turner, Jr. 7:00 a.m. E.T. (514) 982-0188 Douglas R. Reid (403) 295-4587 NovAtel Announces Doug Reid as New President and CEO (Calgary, Alberta, Canada, September 14,1998)--NovAtel Inc. (NASDAQ: NGPSF) today announced that Douglas R. Reid has been promoted to become President and CEO and a Director of the Company. "We are very pleased that Doug Reid will move up to head NovAtel at this important juncture in its corporate development," said William I.M. Turner, Jr., Chairman of the Board. "The Company has established itself as a leading provider of high-end GPS receiver technology and products. NovAtel is also well established in aviation, surveying, mapping, GIS and other markets as a provider to OEMs, as well as to end-users through a growing international network of leading distributors and resellers. With several new products launched or nearing introduction and positive market trends in its markets, NovAtel is poised for growth. The Board feels that a Company veteran such as Doug at the helm ensures both continuity in key operations and the ability to maximize the exciting opportunities that lie ahead." Reid has served as Executive Vice President and Chief Operating Officer for NovAtel since October 1996 and as Vice President and General Manager of NovAtel's GPS business unit from July 1995 to October 1996. From 1986 to July 1995 Reid was employed by Leica Inc. in a variety of positions, including Marketing Manager at Leica's headquarters in Switzerland and Vice President for Leica's North American survey products group. Reid has been a member of the University of Calgary's Geomatics Engineering Advisory Committee (GEAC) for the past 3 years. Pascal Spothelfer has resigned from the Board of Directors. NovAtel Inc. designs, markets and supports a broad range of products that determine precise geographic locations using the Global Positioning System ("GPS"). NovAtel's GPS products are used principally for applications in high-end markets such as surveying, geographic information systems, aviation, marine, mining and machine control and agriculture. Certain statements made in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, certification and market acceptance of the Company's new products, impact and timing of large orders, pricing pressures in the market and other competitive factors and maintaining technological leadership, together with the other risks and uncertainties described in public filings.