AXGI news:
Monday July 10, 10:39 am Eastern Time
Company Press Release
Auxer Receives Large Order From Major
Automotive Retail Chain
Trak Auto Initial Orders Exceeds $200,000 for A/C Test Kits
WEST PATERSON, N.J.--(BUSINESS WIRE)-July 10, 2000--The Auxer Group, Inc. (OTCBB:AXGI - news)
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® 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(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.
For more information please visit our websites at www.auxer.com
Contact:
Investor Relations, 800-201-3972 |
