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...Canadian owned with a manufacturing and distribution facility in Oceanside California... This company was primarily in the research and development stage for eith of it's eleven years in existance... Started it's own manufacturing faciltiy three years ago and is just apparently beginning to show signs of profit on current earnings/sales... Anticipated Sales for 1998: $5,000,000 A "rumored" multi-million dollar financing is apparently close to completion as is a "rumored" joint ventured manufacturing agreement for China... This little junior industrial has been in the top 10 percentage gainers on the ASE, during the past two days... Stock Symbol: KIK Trading on the Alberta Stock Exchange... Shares issued: 7,605,090 Quote and Chart: chart.canada-stockwatch.com Website: kiktire.com Latest News Release: KIK Tire Technologies Inc. Announces Significant Sales Increase CALGARY, ALBERTA--KIK Tire Technologies Inc. of Calgary, Alberta is pleased to announce sales in the first two months of 1998 of $650,000 Cdn., and improvement of 71 percent over the same period last year. KIK also announced today that a new supply agreement is in place for a new line of wheelbarrow tires. At its plant in Oceanside, California, KIK will manufacture and mount the tires, and ship the completed wheel assemblies direct to customers. The initial target markets will be U.S. mass retailers and hardware chains. The initial order will result in increased revenues for KIK of over $100,000 Cdn. commencing in April. KIK manufactures a broad line of off-highway polyurethane tire products at its plant in Oceanside, California using its proprietary technology. Markets include materials handling equipment; recreational products such as bicycles and golf equipment; wheelchairs and power scooters, and lawn and garden equipment such as wheelbarrows and mowers. FOR FURTHER INFORMATION PLEASE CONTACT: KIK Tire Technologies Inc. Investor Relations (Canada/US) Marion Taylor (800) 373-7639 -or- KIK Tire Technologies Inc. Kuldip Baid (Calgary) (403) 233-0468 (403) 269-4339 (FAX) kbaid@cadvision.com | ||||||||||||
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