Cloudtech Sensors Merges with APGJune 26, 2007
Company intends to become a leading provider of biosensor detection chips and devices to homeland security, environmental/food safety, and healthcare markets.
LANDENBERG, PA--(BUSINESS WIRE)--Cloudtech Sensors, Inc. (NASDAQ:CLDH), an early-stage developer of low-cost, handheld sensor chips and devices that can detect and report on in real time and under low-flow conditions hundreds of biological, chemical, environmental and radioactive agents, announced the completion of its merger with Advanced Products Group (Other OTC:APGP.PK-News). At the same time, the company also changed the merged corporation's name to Cloudtech Sensors, Inc., and appointed a new management team and board of directors to replace those of APG, who resigned as part of the agreement.
"The need for generation-leaping, portable risk detection and mitigation devices has never been more critical than today, particularly in the areas of homeland security, environmental/food safety, and healthcare. With the completion of this merger and appointment of a new board and leadership team, Cloudtech is now strongly positioned to fill the crucial need for affordable, small, rugged, handheld GPS-enabled sensor chips and devices that offer speed, precision, portability, and power," said Cloudtech President and CEO James L. Trichon.
New Board Appointed
The Cloudtech Board of Directors will be chaired by Kenneth S. Rosenzweig, who will also serve as the company's Chief Technology Officer. Other Board members include James L. Trichon, Cloudtech's President and CEO, and James W. Zimbler, Managing Director and founder of Alpha Corporate Advisors, LLC.
Management Team Named
The company is led by a team of highly accomplished executives with broad experience in technology, biosciences, finance, marketing, supply chain management, and related fields. In addition to Trichon (President and CEO) and Rosenzweig (Chief Technology Officer), the Cloudtech management team includes Joseph Straub, Business Development Director; Steven M. Ogintz, Marketing Director; Holly G. Atkinson, MD, Medical Director; and Paul Marcus, Communications Director.
More board appointments and management-team additions will be announced in the coming months.
"I'm confident we now have in place the board and leadership team to enable Cloudtech to develop and deliver the most innovative, low-cost, high-value solution for risk detection and mitigation to the marketplace," said Trichon.
About Cloudtech Sensors, Inc.
Cloudtech Sensors, Inc., a publicly held company, is an early-stage developer of handheld detectors that can discover and identify—in real time and under low-flow conditions—hundreds of biological, chemical, environmental and radioactive agents, then wirelessly relay crucial data to command-and-control centers for instant analysis and response. Using licensed-in, patented technologies, Cloudtech intends to be a leading provider of biosensor detection chips and devices to the burgeoning homeland security, healthcare, food safety and environmental markets, a combined $12 billion opportunity by 2010. Cloudtech Sensors, Inc. is located at 13 Laetitia Lane, Landenberg, PA 19350, with additional offices to open in Q3 2007 in Camden, NJ and Newark, DE.
Cloudtech Sensors, Inc.
James L. Trichon, President & CEO, 610-617-9392
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