Torq Resources Inc. press release
Sirit adds senior sales and marketing executive to management roster
TSXV - TSX Venture Exchange · Copper · Gold · Molybdenum · Iron · Canada
TORONTO, June 20 /CNW/ - Sirit Inc. (TSX: SI), a leading provider of radio frequency identification (RFID) reader technology, today announced the appointment of Michael Allocco to the position of Vice President of Sales and Marketing, RF Solutions Group, effective immediately. The RF Solutions Group (RSG division) incorporates Sirit's activities in the supply chain (SCM division) and the broader market for open and closed loop RFID technology. In this role, Mr. Allocco will manage the Company's global channel development and aggressive growth strategies of Sirit's INfinity series of RFID modules and readers. In conjunction with Mr. Allocco's appointment, Chris Leong, will become Vice President, Strategy and Corporate Development and will assume responsibility for Sirit's strategic partnerships, corporate strategy and corporate development initiatives. Mr. Allocco brings a proven ability to lead emerging technology companies into new markets, backed by more than 32 years of global sales, marketing, customer service and channel development experience with emerging high growth companies as well as large multinationals. "We are very excited to welcome Mike to the Sirit management team," said Norbert Dawalibi, President and CEO of Sirit Inc. "Mike brings an impressive track record of revenue growth and channel development with companies that offer products and services to the supply chain market as well as a decisive, strategic and performance-driven approach to sales. His extensive experience and understanding of international sales to Fortune 100 clients will help Sirit identify and develop new vertical markets and OEM opportunities to expand the deployment of our portfolio of leading RFID readers." Before joining Sirit, Mr. Allocco was Vice President Sales - Americas for Alien Technology Corporation, a supplier of RFID hardware, where he was responsible for building a hybrid "go to market strategy" focused on key retailers, CPG suppliers, & software, solutions & distribution partners. Prior to Alien, Mr. Allocco spent seven years in senior sales and marketing positions with Invensys, a global automation, controls and process solutions company including two years as Vice President Global Strategic Accounts & two years as Vice President Sales and Marketing SCM (Supply Chain Management). Previously, he spent 15 years in leading sales and marketing capacities at GSE Systems, Inc. and Leeds and Northrup Company. He graduated cum laude with a BSEE from the University of Notre Dame and earned a MSEE from Columbia University. "I look forward to applying my sales and marketing experience to build upon Sirit's already solid product and customer successes," said Mike Allocco, Vice President of Sales and Marketing, RF Solutions Group for Sirit Inc. "Sirit's commitment to delivering both superior technology and service to a diverse customer base, combined with the value proposition of enhancing business processes through the use of Sirit's advanced RFID reader portfolio and increasing profits for our customers, positions the Company for impressive growth in numerous markets."
About Sirit Inc. Founded in 1993, Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification ("RFID") solutions to customers worldwide. The Company designs, manufactures, integrates and sells RFID solutions with an emphasis in several vertical markets including Supply Chain Management, Product Authentication, Asset Tracking, Security and Access Control and Automatic Vehicle Identification. Building upon years of success deploying traditional RFID products, Sirit continues to capitalize on the growing demand for next generation RFID solutions. For more information on Sirit visit www.sirit.com or call 1-800-498-8760.
Cautionary Note Regarding Forward Looking Statements Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "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 which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Sirit's business which are discussed in the section entitled "Description of the Business - Risks Factors" in Sirit's Initial Annual Information Form dated March 22, 2005 as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended.