puraDYN Filter Technologies Inc. Signs Distribution Agreement With North American Bus Industries
BOYNTON BEACH, Fla.--April 30, 2002--puraDYN Filter Technologies Inc. (AMEX:PFT), the global by-pass oil filtration system company, today announced that it has signed an agreement with North American Bus Industries, Inc. (NABI) to establish an aftermarket distribution program with NABI's Parts Distribution Centers (PDC). Through the program, puraDYN's proprietary by-pass oil filtration systems will be available to all transit authorities across North America.
puraDYN's President and Chief Operating Officer Kevin G. Kroger stated, "We are pleased to announce a program with a prestigious organization such as NABI. The agreement provides puraDYN access to an extensive distribution network and poses significant opportunities for aftermarket sales."
Shannon Young, vice president of aftermarket operations for North American Bus Industries, Inc., commented that the puraDYN units are an asset to NABI's customer base. "puraDYN's filtration system offers meaningful economic and environmental solutions for our customers by reducing oil purchases and labor costs."
NABI anticipates a potential market between $4 million and $5 million.
About North American Bus Industries, Inc.
NABI produces a complete line of standard and low-floor, heavy-duty 35', 40', 45' and 60' (articulated) transit buses at its facilities in Anniston, Alabama. Bus sales and marketing offices are located in Woodland Hills, Ca. Aftermarket parts operations provide O.E.M. and full-service parts distribution of all makes and models of transit bus equipment from convenient sales and distribution centers in Delaware, Ohio, and Fife, Washington. NABI also operates a bus parts and service center in Upland, Ca.
About puraDYN Filter Technologies Inc.
puraDYN (AMEX:PFT) designs, manufactures and markets the puraDYN(R) By-Pass Oil Filtration System, a unit that continuously cleans lubricating oil; maintains oil viscosity; and safely and dramatically extends oil change intervals and engine life. Effective for internal combustion engines, transmissions and hydraulic applications, the patented and proprietary system is a cost-effective and energy conscious solution targeting a $7.8 billion potential market. The Company has established aftermarket programs with several of the transportation industry leaders. For more information on puraDYN Filter Technologies Inc., visit http://www.puradyn.com
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission.