Auxer's Automotive Group Seeks to Enter $3.6 Billion Motor Vehicle Filter Market
WEST PATERSON, N.J.--July 03, 2002--The Auxer Group, Inc. (OTCBB: AXGI - www.axgiinvestor.com) announced today that Auxer's subsidiary Harvey Westbury Corp. completed an agreement with Autotech Engineering for production, manufacturing and distribution of a line of motor vehicle filters designed and engineered to compete with major brands such as Group 7(R) and Casite(R).
Autotech Engineering is a top-ranking South Korean manufacturer and exporter of automotive and industrial filters. Autotech is highly respected in their field and meets international standards of QS9000 and ISO9001 on their products. The Automotive Group plans to launch its oil filter line in the fourth quarter of 2002. The oil filter line is the first of three filter product lines the company plans to introduce. The company plans to announce its trademark in the coming weeks and plans to present the new line at the AAPEX show later this year.
"The Automotive Group has been pre-marketing and developing this product since last year. We believe this line can become a major revenue and profit center for our Automotive Group. The company has already taken in purchase orders and Autotech Engineering is a recognized leader in filtration products on an international level. We believe this is a great opportunity," said Eugene Chiaramonte, Chairman.