The Auxer Group Announces Licensing Agreement
28 July 1998
The Auxer Group Announces Licensing Agreement with Major Auto Parts Chain - Receives "Strong Buy Recommendation"
WAYNE, N.J.--July 28, 1998--The Auxer Group, Inc. (OTC BB: AXGI) announced today that its subsidiary, the Harvey Westbury Corp., has entered into a licensing agreement with major auto parts distribution company encompassing 52 warehouse distributors and over 3,600 stores both in the U.S. and abroad.
The agreement calls for Harvey Westbury to manufacture, assemble, and package a variety of products under the store name label. By request of the major chain, the name of the chain will be withheld until the near future.
The company also announced that its stock has received a "strong buy" recommendation from Aurora, Illinois based Investments 101, Ltd.'s Market $avy July/August newsletter featuring low-priced, high-growth micro-caps. Quoting from the article in Market $avy, editor, Jeffrey A. Brommer stated, "based upon the surge in new business agreements, new products, and an existing product revitalization, AXGI is a strong turnaround situation worthy of attention...AXGI is a strong buy at these levels."
The Auxer Group, Inc. is an investment holding company that is comprised of three subsidiaries: the Harvey Westbury Corp., CT Industries, and Universal Filtration Industries. The company is a manufacturer, wholesaler, and distributor with a line of automotive, marine, and aviation aftermarket 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.