Braintree, MA, April 9, 2001- EquipNet, Inc., the leader in idle asset optimization solutions (www.EquipNetDirect.com), today announced that Martin Moore, formerly President of General Electric Energy Rentals, is joining EquipNet Direct as their President and Chief Operating Officer.

Moore was at GE for 23 years, the past 5 of which he spent acquiring and selling assets, launching plants and managing merger and acquisition activity for the $14 billion power systems business.

"Marty's experience in the field of capital asset management is immeasurable," said Dr. Michael Raymont, Chairman and CEO of EquipNet Inc. "Very few people know the impact that effective asset redeployment can have on a company's bottom line better than he does. In the last 24 months his division's sales went from zero to $120 million, he negotiated over $500 million in acquisitions and launched 20 domestic and 8 international energy rental facilities."

"To be able to assist and direct the continued growth of the global leader in idle asset optimization is a terrific opportunity for me," said Moore. "EquipNet has the inside track on the $30 billion dollar business of idle asset optimization, a marketplace that is still relatively untapped, and I am excited to be a part of it. In addition, EquipNet's leading asset redeployment software supports its unique value proposition."

Moore's appointment comes on the heels of EquipNet's recent completion of further financing. The company raised an additional $3.62 million this year, bringing the total proceeds raised in its Series A financing to over $10 million since May 2000.

EquipNet offers a full range of idle asset optimization solutions, including ARMSTM (Asset Redeployment Management System) (patent pending), an Internet-based software that enables companies to track, identify and internally redeploy idle plant equipment. Additionally, on an outsourced basis, EquipNet:

• Develops corporate-wide idle asset management strategies for Global 2000 manufacturers;
• Delivers roadmaps for the implementation of plant-specific opportunities; and,
• Executes these plans for customers through the delivery of technology, internal redeployment of idle assets, and the management and sale of surplus equipment/facilities using multiple sales channels designed to maximize financial returns.

About EquipNet Direct
EquipNet Direct, Inc., delivers idle asset optimization solutions to Global 2000 manufacturers helping them improve asset utilization, ROA, and cashflow. EquipNet also helps small/medium sized enterprises purchase effectively and efficiently. EquipNet Direct offers innovative technology as well as comprehensive, end-to-end services across various industries. Industries include pharmaceuticals, chemicals, plastics, health and personal care, food & beverage, forest products, packaging, and warehousing. The management team includes seasoned pioneers in the industrial equipment and investment recovery arena, as well as eCommerce veterans. Visit EquipNet Direct's Web site at www.EquipNetDirect.com.

Your Privacy | Legal Notes | info@proseedcapital.com