The Auxer Group to Distribute De Windt's Auto Products
7 July 1998
The Auxer Group Announces It has Entered Into an Agreement With De Windt Corporations to Distribute the Company's Automotive Products
WAYNE, N.J.--July 7, 1998--The Auxer Group, Inc. (O-T-C Electronic bulletin board: AXGI) announced that it has entered into a distribution agreement with De Windt Corporations, Inc. in Atlanta, GA to sell and market the company's automotive and marine lines in Central America, South America and the Caribbean.De Windt Corporations, Inc. has an established network of automotive and engine products distributors with revenues of $15 Million in Mexico, Venezuela, Colombia, Central America and the Caribbean Basin. Initially, De Windt plans to introduce Formula 2000, Garry's(R)Automotive and Marine Care lines and the Easy Test(R)Tester line in two phases. In the first phase, De Windt will introduce the product lines to its current client base in the above territories and expects sales to exceed $1 Million over the next 12 months. Initial purchase orders are forecasted to commence within the next 30 days. The second phase will focus on markets in Brazil, Argentina and Chile which are substantially larger markets and should represent significant growth in the second year of the agreement. "This is an exciting achievement to add to the company's already strong growth results in Puerto Rico," said Mr. Eugene Chiaramonte, Chairman of The Auxer Group, Inc.
The Auxer Group, Inc., headquartered in Wayne, New Jersey, is an investment holding company that is comprised of three subsidiaries: Harvey Westbury Corporation, CT Industries, and Universal Filtration Industries. The company is a manufacturer, wholesaler and distributor with a line of aftermarket automotive, marine, aviation, and hardware products. Collectively, the company owns and markets several product lines including Formula 2000 Ultimate(TM), Garry's(R) Royal Satin Automotive Wax, Polish & Car Care, Garry's(R) Royal Satin Marine Care, It(R) silicone spray, T-Bolt(R) rust penetrant, Easy-Test(R)Testers, Air Conditioning Recharge Kits & Components, and Fleet Crankcase Kits.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks.