General Automotive Enters Strategic Alliance With The Future Group
ORLANDO, Fla. December 3, 2008: General Automotive Company (OTCBB:GNAU), a North American provider of parts, accessories and advanced technology for the automotive industry, is pleased to announce a strategic alliance with The Future Group to facilitate the due diligence process for the Company’s aggressive growth through acquisition focus.
With the management of General Automotive having identified or entered into formal talks with several acquisition candidates, each with annual revenues of approximately $10 million to $50 million, it has now become imperative for the Company to employ the services of a premier sales and marketing organization within the automotive parts and accessories industry.
With over 100 field sales representatives, The Future Group, headquartered in Atlanta, Georgia, has a wide range of customer relationships, an extraordinary depth of channel contacts and strategic pricing and volume intelligence. Noting such, The Future Group not only brings invaluable data and insight to General Automotive’s rigorous acquisition process but also provides a powerful link for direct participation in maximizing sales growth for any automotive related company that General Automotive acquires.
Part and parcel to The Future Group’s due diligence services for acquisitions, they will assist General Automotive by providing customer input and comments, market surveys and channel plans, preparation and testing for expanded market strategy and market share leadership price testing.
General Automotive CEO Joseph DeFrancisci commented, “The current severe economic and, in particular, automotive environment is providing us with unparalleled opportunities to acquire well-managed, niche-oriented companies with strong growth positions within the automotive industry.”
Mr. DeFrancisci continued, “Since this was a primary focus of ours upon going public in early 2008, we are earnestly working to increase our previous fiscal year revenues of over $15 million to an approximate run rate of $100 million within the next twelve months. Furthermore, the existing market conditions are allowing us to do so at potentially remarkable valuation terms for all GNAU shareholders.”
Sid Polan, President of The Future Group, said, “Utilizing our inherently broad knowledge of the automotive industry, along with our reputation for unearthing key facts, futuristic growth trends and the underlying value of a company’s sales figures, furthers our confidence in confirming smart growth and serious profitability potential for every General Automotive acquisition target.”
Mr. Polan concluded, “With the respect we have for their management team’s well known industry success, we are especially pleased to have come to agreement terms that also provide us with first consideration as General Automotive’s sales representatives of choice.”