Customers Impressed With AimRite's COAST Suspension-Control
20 January 1999
Major OEM Customers Impressed With AimRite's COAST Suspension-Control System
SAN DIEGO--Jan. 20, 1999--AimRite Holdings Corp. (Nasdaq BB:AIMH) announced that it has completed presentations of its revolutionary production COAST (Computer Optimized Adaptive Suspension Technology) suspension-control system to the first three major OEM manufacturers.
These organizations signed confidentiality agreements, and AimRite presented extensive technical presentations. The reception of the COAST suspension-control system was extremely positive, and it was acclaimed to be a significant breakthrough in vehicle suspension- control technology by virtually all in attendance.
Discussions are currently underway with these OEM manufacturers, and the company expects a response within the next 30 days to determine its relationships. Another trip is in the planning stages to visit Detroit during February, where presentations will be made to additional interested OEM manufacturers.
AimRite also has a major OEM manufacturer that will be visiting the company's facility during the first week of February to solidify two proposals that were submitted for the application of COAST on their OEM vehicles.
The outcome of this meeting could develop into formal agreements, including a possible joint venture on the development of a production COAST suspension-control system. Funding approval and the commencement of work are expected to begin during March.
The COAST suspension-control system uses Variable Constant Force to achieve unparalleled ride luxury, safety and performance for virtually all automotive, truck, bus and RV applications and will be the OEM vehicle manufacturers' choice for suspension control well into the next millennium.
Visit AimRite's Web site at www.aimrite.com. For further information on AimRite, contact Prima Capital-Corporate Communications.
This release is intended as a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the company's business include, but are not limited to: (i) the ability to produce the COAST Suspension Technology in the future; (ii) unexpected changes in the suspension market; (iii) the success of the company's expansion and marketing strategies; (iv) competition with conventional suspension systems; (v) the ability of the company to motivate and retain the services of its key personnel and hire additional qualified personnel to meet evolving staffing needs; and (vi) unexpected challenges to the patents.