Auxer Receives Large Order From Major Automotive Retail Chain
10 July 2000
Trak Auto Initial Orders Exceeds $200,000 for A/C Test Kits
WEST PATERSON, N.J. - The Auxer Group, Inc. announced today that its subsidiary, Harvey Westbury's new air conditioning line of kits, chemicals and accessories received further vindication as Trak Auto, a major automotive retailer reordered its new kits and accessories.Trak Auto's initial orders for Harvey Westbury's EasyTest(R) Air conditioning products were over $225,000 and are projected to exceed $300,000 by the end of this season.
In 1998, Trak Auto was ranked as the 19th largest automotive company with annual revenues of $210 Million with 170 stores by the Chain Store Guide. Since 1998, Trak Auto has integrated Twin B Auto, Forest City Auto, and Grundy's Auto with its current operations increasing its stores under management to 285 with 2 distribution centers located in Illinois and Maryland. The company estimates Trak's current annual revenues to be approximately $350 Million.
"First, I would like to acknowledge this accomplishment on-behalf of Auxer's core business. The addition of Trak Auto to our client base of major retailers is a result of 12 months of extraordinary efforts by the executives of Harvey Westbury. These efforts were instrumental in the successful launching of this new air-conditioning line and in developing this relationship with Trak Auto. Trak Auto has a high quality group of people and their rapid growth from acquisitions is consistent with our strategy. We are looking forward to increasing our business with them as we continue to introduce our existing product lines as well as some new lines scheduled to be released this fall. Our developing relationship with Trak Auto is one example of our first two (2) of three (3) corporate objectives recently unveiled on June 20th. Second, we expect to announce the initial results of Auxer's most recent efforts later this week. These efforts have been directed towards the development of a Telecommunication Group, the third objective of our corporate strategy," said Ronald Shaver, Executive Vice-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, sells engine treatment under the name, Formula 2000 Ultimate and sells waxes and polishes under the name, Garry's Royal Satin 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.