AXGI-NEWS!! (BSNS WIRE) The Auxer Group, Inc. Announces the Acquisition of Hardyston
The Auxer Group, Inc. Announces the Acquisition of Hardyston Distributors
Business Editors
WAYNE, N.J.-- (BUSINESS WIRE)--April 28, 1999--The Auxer Group,
Inc. (OTC BB: AXGI) announced today that it has completed the
acquisition of Hardyston Distributor's assets and business operations
as well as completing an employment agreement with Mr. Ernest DeSaye
Jr. Hardyston Distributors is a profitable specialty parts distributor
based in Northern New Jersey which has demonstrated strong growth on
basic fundamental principals. Hardyston Distributors has a tremendous
reputation for immediate response deliveries, high level customer
service and support to include qualified mechanics assisting buyers
with purchases. The Company believes the acquisition can post
additional revenues to the group of over $800,000 in 1999.
"Hardyston Distributors is a solid small but growing company. Mr.
Ernest DeSaye Jr. is an enthusiastic and ingenuitive individual who
has worked extremely hard in developing a nice niche in the
marketplace. We believe he will be an excellent addition to the team
and will continue to contribute with his innovative ideas toward
improving the automotive aftermarket industry," said Mr. Eugene
Chiaramonte, Jr., Chairman of the Auxer Group.
ABOUT THE COMPANY
The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding
company that is comprised of three wholly-owned subsidiaries: Harvey
Westbury Corporation, CT Industries and Hardyston Distributors. Auxer
Group is a manufacturer, wholesaler and distributor of automotive,
marine and aviation after-market and hardware products. These products
are currently sold to major retail chains around the country
including, PEP BOYS, MANNY, MO and JACK, CARQUEST, PARTS AMERICA
(WESTERN AUTO), WAL MART, KMART, WEST MARINE just to name a few. The
Auxer Groups' most well known products include FORMULA 2000 ULTIMATE
(A high performance engine treatment), GARRY'S ROYAL SATIN WAX AND
POLISHES (a 70 year old superior car and marine wax line).
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
Auxer Investor Relations call 800-418-2002 Patrick M. Rost, PMR and
ASSOCIATES 760-942-0015
--30--jp/ny* bk
CONTACT: PMR and Associates
Patrick M. Rost
760/942-0015
or
Auxer Investor Relations
800/418-2002
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: AUTOMOTIVE MERGERS/ACQ
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story ***
|
