Universal Brake Parts Approved as a Private Label Supplier for Auto Value
9 August 1999
Universal Brake Parts Approved as a Private Label Brake Rotor and Drum Supplier for Auto Value Associates, Inc.CHICAGO, Aug. 6 -- Universal Automotive Industries, Inc. , is pleased to announce that Auto Value Associates, a program distribution group, has approved the Company's use of the group's own private "PARTSMASTER" label for drum and rotor products. This approval will allow the Company to solicit business from the group's 38 members in the United States, Canada, and Mexico. Over 1,900 affiliated stores display Auto Value identification signage and participate in group marketing events. The jobbers are serviced from more than 120 distribution centers operated by Auto Value members. Phil Lowell, Universal Automotive's Vice President of Sales, commented, "The Company is pleased to be approved to supply drums and rotors under the group's private label "PARTSMASTER". We are committed to enhancing the profitability of Auto Value Associates by delivering the highest quality brake drums and rotors at the best economics." The Company is a manufacturer and distributor of brake rotors, drums, disc brake pads, relined brake shoes, wheel cylinders and brake hoses for the automotive aftermarket. The Company markets approximately 50% of its product under its UBP trademark (Universal Brake Parts) and as the Ultimate brand, with the balance under its customer's private labels. The Company believes it is the leading North American supplier of "Value Line" brake parts (brake parts sold at prices significantly below those of certain leading national brand name brake parts) to mass-market retailers, traditional warehouse distributors and specialty undercar distributors. This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks, uncertainties (including those risk factors referenced in the Company's filings with the Securities and Exchange Commission), and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance, or achievements of the Company expressed or implied by such forward-looking statements.