Message #35 From:
NewsBot Date: December 18, 2006 05:00:00 AM
AVSO News Avatech Solutions Appoints George M. Davis Executive Vice Chairman
BALTIMORE--(BUSINESS WIRE)--Avatech Solutions, Inc. (OTCBB:AVSO), the nationwide technology experts
for design, engineering, and facilities management, today announced the
appointment of George M. Davis as Executive Vice Chairman. Mr. Davis,
committing the majority of his time, will lead the company’s
corporate and strategic development efforts and report directly to the
Board of Directors.
Avatech Chairman W. James Hindman commented, “Since
joining our Board earlier this year, George has proven an essential and
highly experienced resource for Avatech. Through his expanded
responsibilities, he will now lead the evolution of a new phase at our
company. Working arm in arm with our executive management team and Board
of Directors, George will implement the new strategic direction we have
set for Avatech, enabling us to take advantage of the compelling growth
opportunities in our industry and fulfill our goal of transitioning
Avatech to a diversified services and solutions provider.”
Mr. Davis noted, “Over the past six months, I
have been increasingly impressed with the many opportunities that await
Avatech, particularly as more and more small- and medium-sized
businesses seek help in converting to advanced computer-aided design
solutions. Strategic development and service growth are key goals for
Avatech, and I look forward to helping the Board and management realize
the company’s full potential.”
Mr. Davis co-founded Aether Systems, a wireless data software and
services company, in 1996. Serving as its President and Vice Chairman
until 2003, he helped build the venture into a $100 million company,
leading its public offering in 1999 and several secondary offerings in
2000. From 1980 to 1996, he worked for Westinghouse Electric
Corporation, now a division of Northrop Grumman, with increasing levels
of responsibility in program management, including P&L accountability
for major defense contracts involving the design, manufacture and
support of integrated military avionics.
Mr. Davis is an Investing Partner in Demesys, LLC, an electronic medical
records software and services company. He is also an Investing Partner
in Coastal Ventures, LLC, a partnership focused on the restaurant and
entertainment industry. Mr. Davis serves on the board of Defywire, a
wireless software and services company, and is a trustee of Bethany
College in West Virginia, where he received a BS in Economics in 1978.
About Avatech Solutions
Avatech Solutions, Inc. (OTCBB:AVSO) is the recognized leader in design
and engineering technology with unparalleled expertise in design
automation, data management, and process optimization for the
manufacturing, engineering, building design, and facilities management
markets. Headquartered in Owings Mills, Maryland, the company
specializes in consulting, software systems integration and
implementation, standards development and deployment, education, and
technical support. Avatech is one of the largest integrators of Autodesk
software worldwide and a leading provider of PLM solutions. The
company's clients include industry leaders from Fortune 500 and
Engineering News Record's Top 100 companies. Visit http://www.avatech.com
for more information.
This press release contains forward-looking statements about the
expectations, beliefs, plans, intentions, and strategies of Avatech
Solutions, Inc. There are a number of important factors that could cause
actual results to differ materially from those anticipated by any
forward-looking information. A description of risks and uncertainties
attendant to Avatech and its industry, and other factors that could
affect the Company's financial results, are included in its Securities
and Exchange Commission filings, including, but not limited to, the
annual report on Form 10-K for the fiscal year ending June 30, 2006 and
other Securities and Exchange Commission filings. Investors and
shareholders may obtain a free copy of the documents filed by Avatech
Solutions, Inc. with the Commission at the Commission's web site at www.sec.gov.
