NewMarket Technology Inc. released an update of its Homeland Security Strategy. NewMarket entered the Homeland Security market in March 2004 with the acquisition of DCI, a defense industry systems engineering firm. Since that time, NewMarket has won a number of notable contracts with organizations that include L3 Communications and foreign United States allied governments. NewMarket has also acquired additional technology assets to expand its portfolio of Homeland Security products and services.
Earlier in 2005, NewMarket became the majority shareholder in Defense Technology Systems Inc., a publicly listed Homeland Security company. Defense Technology is a distressed, early development stage company refocused on the Homeland Security market after the collapse of its previous data networking operation. The revitalization of Defense Technology has been slower than anticipated due to conflicts between NewMarket and Defense Technology management. Defense Technology recently announced the appointment of Russell Medina as the new Chief Executive Officer. Mr. Medina brings a wealth of defense industry experience to the Company as a retired career Army Officer and graduate of the United States Military Academy at West Point, NY. While the revitalization of Defense Technology is behind, Defense Technology will be central to NewMarket's Homeland Security strategy.
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