Market Technologies Holds Groundbreaking Ceremony New Building
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Market Technologies holds Groundbreaking Ceremony for new state-of-the-art office building
Wesley Chapel, FL, August 12, 2005 — Louis B. Mendelsohn, President and Chief Executive Officer, announced today that Market Technologies, LLC, a privately-owned, Inc. 500, trading software company held a ground-breaking ceremony for its new, state-of-the-art, office building on Thursday evening, August 11, 2005. The catered ceremony, including a champagne toast by Mr. Mendelsohn, was held on-site where the new corporate headquarters will be built, less than a mile from the company’s current location. Construction is expected to begin on Monday, August 15, 2005 and will take approximately six months to complete.
Market Technologies was founded in Tampa, Florida in 1979 by Mr. Mendelsohn. In 1987 it relocated to Wesley Chapel, Florida, and in 1995 moved to its current location. Since the end of 2004 Market Technologies’ staff has nearly doubled in size as worldwide demand for VantagePoint Intermarket Analysis Software, the company’s flagship product, has continued to grow substantially.
The new office building, to be occupied by both Market Technologies’ staff as well as the Predictive Technologies Group which is responsible for all trading software R&D, will be almost three times larger than the current space, allowing the firm to continue to expand its sales, technical support, marketing, research and development, and administrative staff to meet the increasing demand for VantagePoint by traders worldwide. Construction permits have also been obtained which will entitle Market Technologies to build a Phase II expansion onto the building at a later date, bringing the new facilities to nearly five times the current size. This will assure that Market Technologies will have adequate facilities to continue to expand its staff for the foreseeable future without necessitating another relocation.
Mr. Mendelsohn stated that “when I think back over the past 26 years, I am amazed at how much the company has grown. As a full-time commodities trader, I started Market Technologies because I realized that other traders also needed effective trading tools. In the mid-1980s I recognized an even more specific need for software to address the emerging globalization of the markets and take into account the intermarket effects that markets were beginning to have on one another.
Having Market Technologies recognized by Inc. magazine last year as one of the fastest growing privately-owned companies in the United States and now breaking ground on a state-of-the-art facility surpasses even my expectations.” He went on to say that “I am extremely grateful for the dedication and commitment shown by all of our staff to make Market Technologies a truly great, family-owned company and recognized world leader in market forecasting. Additionally, I am especially grateful to all of our customers who have helped VantagePoint become the market forecasting tool-of-choice among traders throughout the world.”
The ground-breaking event was attended by the entire Market Technologies staff and Mendelsohn family, including Mr. Mendelsohn’s wife, Illyce, and their three sons, Lane, Ean and Lee. Outside dignitaries and consultants who have been of tremendous assistance to Mr. Mendelsohn over the past year in bringing the building project to this point included John Cochran, Managing Director of BSW International, the Oklahoma-based architectural firm which designed the building; John Scheller, Jr., Vice President of Aurora Civil Engineering, Inc., the engineering firm which designed the overall site plan; Troy Muilenburg, President of Itasca Construction Associates, the general contractor which has been selected to oversee the construction of the building; Mary Jane Stanley, President/CEO of the Pasco Economic Development Council; John Walsh, Vice President of the Pasco Economic Development Council; and Pat Mulieri, Ed.D., Chairman of the Pasco County Commission. Others attending the ceremony from out-of-state were Darrell Jobman, formerly Editor-in-Chief of Futures magazine, who recently joined Market Technologies as Senior Market Analyst; and Dr. Phillip Arcuri, a mathematician who has been part of the Predictive Technologies Group since 1992.
“I am so excited that this day has finally arrived,” said Lane Mendelsohn, Operations Manager of Market Technologies. “It has been something I have been dreaming about for years.” Ean Mendelsohn, the firm’s Sales Manager, added that he is “very pleased that everyone could be here to celebrate such a momentous occasion.” Relocation to the new facility is slated for the first quarter of 2006.
About Market Technologies Headquartered in Tampa Bay since it was founded in 1979 by Louis B. Mendelsohn, with trading software customers in over seventy countries worldwide, Market Technologies, an Inc. 500 company and recognized world leader in market forecasting, develops proprietary trend forecasting and market timing technologies that utilize artificial intelligence and intermarket analysis to forecast various financial and commodity markets, including interest rates, stock indexes, currencies, energies, metals, grains, meats, softs, Forex and ETFs, covering a total of fifty-two world markets.