Brake Headquarters USA, Inc. Retains Realization Services, Inc.,
8 January 1999
Brake Headquarters USA, Inc. Retains Realization Services, Inc., a Nationally Recognized Consulting Firm to Review Its Operations
LONG ISLAND CITY, N.Y.--Jan. 7, 1999--
Emphasizes Company's Commitment to Achieve Profitability, and
Capitalize on Strategic Opportunities in 1999
Brake Headquarters USA, Inc. , (the "Company") announced today that it has retained Realization Services, Inc. ("RSI"), a nationally known consulting firm to assist the Company to in identifying immediate steps that can be implemented towards achieving profitable operations and improving asset utilization.
RSI has an established national reputation of assisting companies like Brake Headquarters, with emphasis on improving financial and operational efficiency. RSI's mandate will include assisting the Company to more optimally consolidate its recent acquisition of Western Automotive Warehouse Distributors, as well as to help achieve meaningful reductions of selling, general, and administrative expenses, and improved inventory management for both divisions.
Joseph Ende, Chairman and CEO of Brake Headquarters USA, Inc. commented "Our principal objective for 1999 is to enhance shareholder value, by achieving corporate profitability. Our retaining Realization Services, Inc. represents the first step of a continuing process to improve our overall operating efficiency. We will rely on their expert advice to recommend and implement the necessary steps to strengthen all aspects of our organization and to assist us in identifying and financing new opportunities to achieve continued accelerated growth. During 1998 we made a commitment to aggressively expand the base of our business and the markets we serve. We renew this commitment for 1999 and the future, along with the equally important goal of reducing unnecessary overhead, and achieving profitability."
Founded in 1976, Brake Headquarters USA, Inc. is a rapidly growing manufacturer, wholesaler and distributor of automotive brake system products and other component parts for domestic and foreign cars and light trucks.
This release contains certain forward-looking statements that involve known and unknown risks, uncertainties. The Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to intense competition; the Company's dependence on the automotive industry, which is cyclical; historical decreases in internal growth rates and historical losses, the Company's ability to manage growth; and other risks discussed in reports filed by the Company with the Securities and Exchange Commission from time to time.