I'll be the first to say it, this is their most informative PR so far. Still nothing solid regarding sales/contracts, but at least some concrete information.
AimRite Expands in New Facilities to Meet Demands of OEM Customers
SAN DIEGO--(BUSINESS WIRE)--July 27, 1999--AimRite Holdings Corporation (OTC BB:AIMHE) will begin installing COAST(TM) suspension units on customer vehicles beginning on Monday, August 2, 1999 at their new facility located at 525 Stevens Avenue West in Solana Beach, CA. The vehicles will be in accordance to the agreements that have been reached between AimRite and various original equipment manufacturers (OEM).
In addition to existing customers that AimRite is under agreement to equip with COAST, AimRite has been receiving data from other OEM manufacturers for the purposes of performing computer simulations for use during product development of their applications. As a result of its marketing efforts, AimRite has recently received requests and supplied specifications to additional OEM manufacturers. Beginning this week and continuing for the next 30 days, AimRite will be meeting with these OEM manufacturers to form strategic alliances. Lastly, agreements have been reached to manufacture the components for COAST. Logic Innovations, Inc. from Sorrento Valley, CA has been contracted to supply the computer hardware and software. King Technology Inc. from Garden Grove, CA has been contracted to supply the hydraulic suspension components. The new AimRite facility will be used to assemble the entire suspension system. These contracts and the completion of the new facility allow AimRite to aggressively pursue the marketing and manufacturing business plan. Also, these agreements and the expanded facility allow AimRite to respond to the anticipated demand for OEM systems immediately.
Regards, Dave
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