Message #21 From:
NewsBot Date: January 5, 2007 04:48:00 AM
SOFT News SofTech Announces Management Changes
TEWKSBURY, Mass.--(BUSINESS WIRE)--SofTech, Inc. (OTCBB:SOFT),
a proven provider of product lifecycle management (PLM) solutions, today
announced several management changes.
Joseph P. Mullaney has given his notice of resignation of his position
as President, COO and CFO at SofTech to accept a senior management
position at another Massachusetts technology company. Jean J. Croteau
has been promoted to President of SofTech. Mr. Croteau is a long-time
SofTech Vice President who contributed greatly to the financial
turnaround that began in June 2001.
Additionally, Amy McGuire has been promoted to Chief Financial Officer
of SofTech. Amy joined SofTech in 2002 when Workgroup Technology
Corporation (“WTC”)
was acquired and became Corporate Controller on August 1, 2004. She was
employed by WTC for 5 years prior to that acquisition.
“I would like to thank Joe for his significant
contributions over many years at SofTech,”
said Bill Johnston, SofTech’s Chairman. “Congratulations
to both Jean and Amy in their new positions and I look forward to
working with them to continue to create value for the SofTech
shareholders,” he added.
SofTech, Inc. (OTCBB: SOFT) is a proven provider of product lifecycle
management (PLM) solutions with its flagship ProductCenter™PLM solution, and its computer-aided design and manufacturing (CAD/CAM)
products, including CADRA™ and Prospector™.
SofTech's solutions accelerate products and profitability by fostering
innovation, extended enterprise collaboration, product quality
improvements, and compressed time-to-market cycles. SofTech excels in
its sensible approach to delivering enterprise PLM solutions, with
comprehensive out-of-the-box capabilities, to meet the needs of
manufacturers of all sizes quickly and cost-effectively.
Over 100,000 users benefit from SofTech solutions, including General
Electric Company, Goodrich, Honeywell, Siemens, Sikorsky Aircraft, U.S.
Army, and Whirlpool Corporation. Headquartered in Tewksbury,
Massachusetts, SofTech (www.softech.com)
has locations and distribution partners throughout North America,
Europe, and Asia.
SofTech, CADRA, ProductCenter and Prospector are trademarks of SofTech,
Inc. All other products or company references are the property of their
respective holders.
The statements made above with respect to SofTech’s
outlook for fiscal 2007 and beyond represent “forward
looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities and Exchange Act of 1934 and are subject to a number of risks
and uncertainties. These include, among other risks and uncertainties,
general business and economic conditions, generating sufficient cash
flow from operations to fund working capital needs, potential
obsolescence of the Company’s technologies,
maintaining existing relationships with the Company’s
lender, remaining in compliance with debt covenants, successful
introduction and market acceptance of planned new products and the
ability of the Company to attract and retain qualified personnel both in
our existing markets and in new territories.