eParts eXchange Appoints Chief Technology Officer
22 March 2000
eParts eXchange Appoints Chief Technology OfficerALSIP, Ill., March 22 eParts eXchange ( http://www.goepx.com ), an emerging B2B global online marketplace for automotive aftermarket parts that will service the $400 billion global automotive aftermarket, announced today that it has named Dr. Eric Coles as Chief Technology Officer. Mr. Coles previously served as a business consultant to Universal Automotive Industries, Inc. , and was the leader of the team that developed the eParts eXchange business plan. Prior to engaging with Universal, Dr. Coles has been involved in the development of a number of startup companies over the past fourteen years. He is an expert in technology companies and the implementation of new business technologies. Dr. Coles will be responsible for the operations of eParts eXchange and especially the implementation of the Internet eCommerce technologies. "New and growing companies require individuals who have a broad range of experience and expertise and a willingness to do whatever has to be done to make the company successful", said Universal's President & CEO Arvin Scott. "Eric has a proven track record of starting up new technology based companies. His demonstrated success in building eCommerce solutions for new enterprises make him an ideal addition to our team as we launch this new and exciting company." About eParts eXchange ( http://www.goepx.com ) eParts Exchange, Inc., a subsidiary of Universal Automotive Industries, Inc., is a B2B e-Commerce company that provides a dynamic online trading center for worldwide buyers and sellers of automotive aftermarket parts. The company's focus is on the Commodity, Surplus and International Trade segment of this market. eParts eXchange was founded in 1999 and is headquartered in Alsip, Ill. About Universal Automotive Industries ( http://www.uaiinc.com ) Universal Automotive Industries, Inc. is headquartered in Alsip, Illinois and specializes in the distribution and manufacture of brake parts under its trade names "UBP - Universal Brake Parts" and "Ultimate Rotors and Friction". 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.