BlueStar Engages PaineWebber For Advisory Services
24 August 1999
BlueStar Engages PaineWebber For Advisory Services
VANCOUVER, British Columbia--Aug. 23, 1999-- BlueStar Battery Systems International Corp. (Alberta Stock Exchange:BHW.) ("BlueStar") announced today that it has signed an agreement with PaineWebber Incorporated, whereby PaineWebber will provide BlueStar with general investment banking services."BlueStar is completing the installation of a business-to-business e-commerce system aimed at the automotive electrical sector," says Darwin Sauer, President and CEO of BlueStar. "Effective October 1999, our business model will be enhanced from traditional distribution of products and services to include an electronic network for power and charging systems, including batteries of all types. We've engaged PaineWebber to assist us in formulating an appropriate capital structure and forging strategic relationships to support an aggressive business plan."
BlueStar is one of North America's largest integrated networks for power and charging systems, providing supplier and customer participants with sales, marketing, distribution and support capabilities. The Company, through its electronic commerce network, markets over 11,000 different battery products and automotive electric components from many of the world's finest manufacturers. BlueStar continues to enhance its product lines through strategic alliances with the world's leading manufacturers, along with the strengthening of the BlueStar participant network throughout North America.
PaineWebber Group Inc., together with its subsidiaries, serves the investment and capital needs of a worldwide client base. The firm employs 18,452 people in 307 offices around the world.
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.