Auto-Q International Inc. Receives $125,000 Purchase Order from UK Based Furniture Giant
LONDON, Oct. 1, 2003 -- Auto-Q International Inc. (BULLETIN BOARD: AUTQ) , a leading provider of vehicle tracking and monitoring systems for trucking fleets and consumers, announced today that it has received another purchase order totaling $125,000 from furniture and housewares chain MFI for delivery in October and November 2003.
MFI are installing Auto-Q's FleetTrak monitoring systems to 16 heavy goods vehicle during October and a further 15 new vehicles scheduled for delivery in November. The UK based furniture and housewares chain MFI is the largest retailer of kitchens and bedrooms and integrated appliances in the UK with a market share of over 30% -- more than twice the nearest rival. MFI benefits from Auto Q International Inc.'s tracking technology with thousands of dollars in fuel savings and vehicle running costs across its delivery fleet.
The company's fleet currently has 156 vehicles supplied by different truck manufacturers, divided between depots in Northampton, Runcorn and Hull and serving a network of 280 MFI stores and 370 Howden Joinery outlets throughout the United Kingdom. Their average mileage is 120,000 a year.
Auto-Q's chairman, Tom Lam commented "We are delighted to receive this order from MFI, continuing the relationship we have developed in supplying our FleetTrak system over the last two years. We look forward to outfitting their entire fleet in the near future."
Auto-Q's FleetTrak uses a combination of GPS and GSM technology to provide detailed management reports on each vehicle and driver. By measuring fuel consumption to an accuracy of better than 1 per cent, it is enabling MFI to monitor and improve driver performance -- and to compare fuel consumption between trucks.
Auto-Q's FleetTrak system can produce 5-10% fuel saving across a typical mixed fleet, which quickly adds up to savings that eventually more than pays for the installation of the system. The system provides the operator with a safeguard against risky or impatient driving and the potentially disastrous results.
Auto Q recently announced plans to enter an estimated $1.35 Billion US Market with a new safety tracking device designed for school buses called BusTrak. The BusTrak Safety System is designed with the more than 23.5 million elementary and secondary school children in mind who ride school buses daily throughout the United States, twice a day. There are more than 450,000 yellow school buses that provide transportation service daily nationwide to these children. The National Highway Traffic Safety Administration reports an estimated 8,500 to 12,000 children injured in school bus accidents annually and an average of 11 children are fatally injured inside school buses annually.
For investor information please contact Matt Maguire at 407-884-0444 or 1-866 THE APPLE. www.auto-q.com .
Certain statements contained herein are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995) Because such statements include risks and uncertainties actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements include but are not limited to, economic conditions, market acceptance of products, risks in technology, and product development.