APCO Announces Exclusive Marketing Relationship With Simoniz
12 August 1998
Automobile Protection Corporation - APCO - Announces Exclusive Marketing Relationship With Simoniz USA, Inc.ATLANTA, Aug. 12 -- Automobile Protection Corporation announced today that it has entered into an exclusive marketing relationship with Simoniz(R) USA, Inc. The famous Simoniz(R) brand, established in 1911, includes exterior and interior car care products, such as paint, fabric and carpet protection. APCO has become the exclusive automobile dealer channel marketer for Simoniz(R) products that will be offered by dealers to their customers. The program will be offered under the name of EasyCare(R) Environmental Car Care Products by Simoniz(R). Larry I. Dorfman, President/CEO of APCO stated: "We are extremely pleased to partner with an historic name brand like Simoniz(R). Most of the dealerships we work with offer some type of appearance and protection product to their customers. Our research has indicated that our strong EasyCare(R) dealership relationships combined with the widely recognized name of Simoniz(R) will be very well received by our current dealers as well as dealerships we want to develop relationships with. This program provides consumers with protection against environmental damage to the vehicle's paint. The Simoniz(R) product is applied to the vehicle and Simoniz(R) warrants that should the vehicle have damage caused by acid rain, tree sap or bird droppings...the three types of damage not covered by most factory warranties, Simoniz(R) will pay to repair the damage. The Simoniz(R) warranty is fully insured by a major "A" rated insurance company which adds to dealer and consumer confidence in the product. "We see this as a very logical tie in to our EasyCare(R) vehicle service contract product line, which provides consumers with mechanical breakdown protection. EasyCare(R) now can provide the consumer with complete protection for their vehicle investment. This program broadens the range of products we can offer to automobile dealers using our established distribution system." William M. Gorra, President/CEO of Simoniz(R) USA, Inc. stated: "As a leader in vehicle appearance products, we sought out a distribution partner that brought to the table the same level of quality, service and integrity we do. APCO's EasyCare(R) product is recognized in the automotive industry as the most comprehensive, best serviced product of its type and we are truly excited about this partnership." APCO, established in 1984, is a leading marketer and administrator of products and services to automobile and recreational vehicle dealers. The Company's core business is the marketing and administration of EasyCare(R) Vehicle Service Contracts and the EasyCare(R) Certified Pre-Owned Vehicle Merchandising Program. The Company also administers warranty and service contract products under private labels for financial institutions, an insurance company and a manufacturer. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: To the extent that this news release discusses financial projections, information or expectations about our products or markets, or otherwise makes statements about the future, our statements are forward looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. The specific risk factors are described in the Company's Form 10-K that has been filed with the Securities & Exchange Commission in connection with its 1997 year.