Auxer Group Announces CARQUEST Market Test Shipments Completed
20 January 1999
Auxer Group Announces CARQUEST Market Test Shipments Completed
WAYNE, N.J.--Jan. 20, 1999--First Payments Received for EASYTEST(R) products under major
OEM/Private Label Deal
The Auxer Group, Inc. (OTC BB: AXGI) announced today that it's automotive subsidiary, Harvey Westbury has filled the initial orders under a previously announced agreement with CARQUEST(R) Automotive Products, Inc.
The Harvey Westbury Corporation entered into a licensing agreement with CARQUEST Products, Inc. in October of 1998 to act as an OEM manufacturer, assembler, and private label packager of a wide variety of products under the CARQUEST label. Auxer's quality products will be distributed domestically and internationally through CARQUEST's network of 52 warehouse distributors and over 3,600 retail outlets. CARQUEST's annual revenues exceed $600,000,000.
CARQUEST will carry a variety of Auxer products including the Easy-Test(R) line of anti-freeze and coolant testers, and battery test kits. Six Auxer products were included in the initial order. The Easy-Test anti-freeze and coolant testers are designed to prevent costly winter freeze-ups and summer boil-overs by quickly and accurately testing the temperature limits of ethylene glycol and poly glycol coolants. The Easy-Test battery testers will warn motorists of potential battery failures by analyzing the status of the battery charge. The test market items include packaging designed by Harvey-Westbury including an imprinted CARQUEST logo, a UPC label, product instructions and an innovative "blister pack" packaging design. The product packaging is designed to provide maximum exposure on the retail shelves, encourage impulse buys and establish the tester line as a staple product for CARQUEST automotive shoppers.
"The shipment of these initial test orders is a major milestone for Auxer and Harvey Westbury. Creating a pipeline of distribution with a retail giant such as CARQUEST can only lead to great things for us. If we can gain product saturation in their 3,600 retail stores and continue to expand our product line, we will eventually see substantial revenue growth from the CARQUEST relationship" stated Mr. Ronald Shaver, President of Harvey Westbury. "We have thoughtfully prepared for this test to maximize market penetration, and we will carefully track the sell-through on this test order. With over 3,600 retail outlets and 52 warehouse distributors, strong product movement from the retail shelves would most likely result in a substantial reorder. We are confident our Easy-Test line will generate brisk sell-through given the recent strong winter weather across the country", concluded Mr. Shaver.
Gene Chiaramonte, Chairman of the Auxer Group added, "We have already received payment on the first set of invoices. We believe this is an clear indication of CARQUEST's satisfaction with our product quality and packaging specifications."
ABOUT THE COMPANY
The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding company that is comprised of three wholly-owned subsidiaries: Harvey Westbury Corporation, CT Industries and Universal Filtration. Auxer Group is a manufacturer, wholesaler and distributor of automotive, marine and aviation after-market and hardware products. These products are currently sold to major retail chains around the country including, PEP BOYS, MANNY, MO and JACK, CARQUEST, PARTS AMERICA (WESTERN AUTO), WAL MART, KMART, WEST MARINE just to name a few. The Auxer Groups' most well known products include FORMULA 2000 ULTIMATE (A high performance engine treatment), GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car and marine wax line).
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.
For more information please visit our websites at www.auxer.com