Auxer Unveils Corporate Strategy
20 June 2000
Auxer Unveils Corporate Strategy
WEST PATERSON, N.J. - The Auxer Group, Inc. announced the company's corporate strategy and the appointment of Ronald Shaver as Executive Vice President at a Board Meeting held yesterday.Mr. Chiaramonte, President of Auxer utilized the opportunity to outline his vision for Auxer.
Auxer's corporate strategy was unveiled under three primary objectives: first, continue to finance and grow Auxer's core automotive and marine product lines and distribution network; second, grow the existing core business through acquisition of new product lines; and third, develop an aggressive acquisition program in high growth industries such as internet and telecommunications.
"With the company's recent return to the Bulletin Board, I have chosen this opportunity to communicate and establish a direction for the company and its shareholders. We intend to utilize our company's status as a fully reporting, OTC Bulletin Board Company as a vehicle to finance quality products and acquire established product lines, new technology, and new ideas. Over the upcoming weeks and months, our investors can expect to see information released toward achieving the above three objectives. Currently, several acquisition discussions are being formalized. I have also chosen this timing to announce the appointment of Mr. Ronald Shaver as the company's Executive Vice President in charge of operations and acquisitions. Mr. Shaver has been the Acting President for Harvey Westbury since 1997. He is responsible for the redesign of Harvey Westbury's Easy Test and Garry's lines as well as turning it into a profitable investment for Auxer. He will be a tremendous asset to Auxer as he brings success and experience in acquisitions, corporate strategy and leadership to the team. Mr. Shaver has an MBA with over 10 years in acquisition, venture consulting, finance and military related experience. Prior to working with Harvey Westbury, Mr. Shaver was with Atlantic Venture Group, a merchant-banking firm in New York, George S. May, a management consulting firm in Chicago and the Corp of Engineers as a military officer where he served on the Staff and Faculty at West Point," said Mr. Chiaramonte, President of Auxer.
ABOUT THE COMPANY
The Company is a holding company which currently owns three (3) active subsidiaries: The Harvey Westbury Corporation Inc., Hardyston Distributors, Inc. and CT Industries, Inc. Harvey Westbury assembles and packages automotive accessories under the name, Easy Test(R), sells engine treatment under the name, Formula 2000 Ultimate(TM) and sells waxes and polishes under the name, Garry's Royal Satin(TM) to the automotive, marine, and aviation industries. Hardyston Distributors, Inc. is a specialty distributor of automotive parts and accessories to local mechanics, service stations and dealers. CT Industries, Inc. has been designated to house any future internet-related business and currently handles the internet-related sales from the company's websites as well as other retail programs.
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.