PCC Group Announces Stock Buy-Back Program
15 September 1999
PCC Group Announces Stock Buy-Back Program
LOS ANGELES--Sept. 14, 1999--PCC Group Inc. (Small Cap NASDAQ Exchange: PCCG) announced today that the company's Board has authorized a stock repurchase program, authorizing the purchase of 500,000 shares of PCC Group's common stock.According to PCC Group president Jack Wen, "We are aware that recent market volatility has subjected our stock to selling pressure. PCC Group will, from time to time, purchase shares as cash flow permits. The program will begin immediately, and allows the Company to repurchase their common shares using open market transactions."
PCC Group has recently been focused on strategic marketing for its Internet subsidiaries, recently launching retail E-commerce Websites www.123cdc.com and www.123adc.com.
www.123cdc.com offers national online shoppers one of the Internet's most comprehensive online catalogs. Strategically aligned with Ingram-Micro as a supplier, combined with other relationships developed through years of computer sales and distribution, the company competes in price and service with all of the major online suppliers. This website currently offers approximately 80,000 computer-related products to the retail public.
www.123adc.com offers a very unique "virtual region" Internet strategy for online automobile shopping. It prioritizes pre-owned vehicles and streamlines local accessibility to used and new cars for the consumer, building strongly on the deal-to-consumer relationship.
PCC Group's primary business during the past 15 years has been the wholesale distribution of computer-related products.