Ground Effects Announces $3 Million Contract From GM
9 September 1998
Ground Effects, An Applied Cellular Technology Company, Announces A $3 Million Contract From General MotorsPALM BEACH, Fla., Sept. 9 -- Applied Cellular Technology Inc. announced today that its subsidiary Ground Effects has been awarded a contract from General Motors of Flint, Michigan, to provide accessories for the 1999 Geo Tracker, the 2001 Chevrolet Blazer and GMC Jimmy. The contract is worth $3 million and will be completed within the next twelve months. Jim Scott, President of Ground Effects, stated, "We have been attempting to grow our G.M. business for the last three to four years and we have been very pleased with our progress during model year 1998. These new contracts reflect the confidence that General Motors has shown in our product line and has helped us to increase our sales to G.M. by approximately 230% over the previous three year average." Based in Windsor (Ontario), Canada, Ground Effects is a premier engineering and manufacturing company that specializes in anodized aluminum and chrome steel fabrication as well as powder coat steel components. The company maintains a comprehensive manufacturing facility that produces standard products as well as custom products for a variety of industries. Applied Cellular Technology, Inc. is a diversified communications technology company. The company's goal is to provide customers with integrated communication systems that are fast, reliable and cost effective. For further information contact the company's WEB site at http://www.appliedcell.com Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.