Monday April 3, 6:33 pm Eastern Time
Company Press Release
Tire Sealant to Be Shipped to Vee Tubes USA
FORT WORTH, Texas--(BUSINESS WIRE)--April 3, 2000--21st Century Technologies Inc. (OTCBB:TEXNE - news) announced today that its subsidiary Trade Partners has received a large shipment of tire sealant from its manufacturing source in South Africa.
The tire sealant is a ``water-based' liquid that you insert into the tire (i.e., about a quarter-inch dab of sealant), after which it is filled with air. The tire becomes resistant to punctures from debris such as nails or glass. Vee Tubes USA imports motorcycle and bicycle inner tubes from Taiwan, which are sold in shops throughout the United States.
The tire sealant shipment was delayed from its original schedule for receipt in January 2000. The tire sealant is shipped in bulk containers and then used at the manufacturing site. Vee Tubes will begin using the tire sealant in its Midwest plant, where it will be inserted into bicycle inner tubes. The tire sealant will be marketed as a ``value-added' feature by Vee Tubes.
The first delivery of the tire sealant will be priced at $43,000 per container, netting the company a gross profit of 138 percent. Additional shipments of the tire sealant are scheduled with monthly deliveries. However, to avoid international shipment delays and to reduce costs, the company is negotiating to build a tire sealant production plant in the United States. As previously announced, sales of the tire sealant are expected to reach $1 million per month once full production is achieved.
The company will continue to attend trade shows to demonstrate the tire sealant to distributors and manufacturer representatives. In addition, the company will expand its Internet marketing of the tire sealant to manufacturers, wholesalers and retailers. Due to its water-based formula, the tire sealant doesn't ``clump' or ``ball up' like latex-based sealants when exposed to moisture buildup due to tire heat or external leakage. The company believes that the tire sealant will rapidly gain market share in both the recreational and commercial sectors due to superior chemical formulation.
Financial Statements in this news release other than historical facts are ``forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about its future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results.
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Contact:
21st Century Technologies Inc.
Jennifer Runyan, 702/876-0918
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More Quotes and News: 21st Century Technologies Inc (OTC BB:TEXNE.OB - news)
Related News Categories: automobiles, chemicals, transportation
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