ALCOHOL SENSORS INTERNATIONAL SIGNS $360 MILLION CONTRACT FOR SENS-O-LOCK DISTRIBUTION IN EUROPE.ISLANDIA, N.Y.--(BUSINESS WIRE)--New York--May 13, 1996--ALCOHOL SENSORS INTERNATIONAL, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ASILU) announced today that they have signed a contract worth over $360,000,000 with Digital Vehicle Security Systems (Digital), Chesham, Bucks, United Kingdom, for Digital to market Alcohol Sensors International, Ltd.'s line of ignition interlock devices A breath alcohol ignition interlock device (BIID or IID) is a mechanism similar to a breathalyzer which is installed in a vehicle's dashboard. Before the vehicle can be started, the driver must breathe into the device. in seventeen European countries. The contract, executed May 9, 1996, between Alcohol Sensors International, Ltd. and Digital Vehicle Security Systems, calls for Digital to purchase 1.6 million SENS-O-LOCK units over a period of sixty months, commencing November, 1996. Digital has been in business since 1968 (28 years) and produces a variety of consumer electronic products for such major companies as Philips and Whirlpool. They market their own 12-volt automotive alarm systems under the brand names Digital, Fighter and Guardian, and have a presence and distribution in 47 countries worldwide. Robert B. Whitney, President and Chief Executive Officer of Alcohol Sensors International, Ltd. commented, "The contract with Digital Vehicle Security is significant in that we are exporting unique, state-of-the-art technology to countries overseas who experience the same, and in some cases greater, problems with drinking and driving than here in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Besides the great opportunity for increased business, it has an even greater potential to save lives and prevent injury." The signing of the contract is the culmination of over three-years communication between the two companies, and marks the first step in bringing the SENS-O-LOCK to people around the world. Digital will market the SENS-O-LOCK via a newly created division called SENS-O-LOCK U.K. Key points of the agreement include Digital's exclusive right to import SENS-O-LOCK into the U.K. and to market and ship to other agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy countries throughout Europe, including eastern block nations formerly part of the U.S.S.R. Michael Ghazarian, Digital Vehicle Security Systems' Managing Director said, "Nations in the E.E.C. need SENS-O-LOCK in every vehicle because the problem of alcohol-related accidents is severe. It is not uncommon for people to consume wine or beer with lunch. It is a cultural idiosyncrasy idiosyncrasy /id·io·syn·cra·sy/ (-sing´krah-se) 1. a habit peculiar to an individual. 2. an abnormal susceptibility to an agent (e.g., a drug) peculiar to an individual. in many countries. Despite the fact that people raised with it become used to consuming alcohol, its physiological effects on motor skills, in particular slowing down a driver's reaction time, is the same. Most people realize this, as do insurance companies who are exposed to the added liability a drinking driver creates. SENS-O-LOCK is like a vigilant but yet unobtrusive policeman, offering safety without inconvenience." A major factor in Digital's enthusiasm for the project and a strong market force driving initial sales, is the British insurance
Britishinsurance.com is the trading name of British Insurance Limited, a specialist insurance company based in the United Kingdom. industry, who have shown great interest in the device and have already indicated their willingness to significantly reduce the premiums normally charged to convicted drunk drivers who install a SENS-O-LOCK system in their vehicle. Currently in the U.K., a person convicted of drunk driving will find it extremely difficult to obtain insurance for a period of five years, and then only from specialist carriers. The stigma lasts for a full eleven years, with insurance premiums virtually unaffordable un·af·ford·a·ble adj. Too expensive: medical care that has become unaffordable for many. un for most drivers. Insurance carriers who offer low premium loading to those who install SENS-O-LOCK will have a pool of approximately 1,000,000 drivers currently eligible for this program. Mr. Ghazarian stated that this opportunity alone warrants the level of commitment he is making to SENS-O-LOCK . Digital plans to showcase the SENS-O-LOCK product at the famed British International Motor Show The British International Motor Show is an automobile show held biennially in the United Kingdom. It is recognised as an international show by the Organisation Internationale des Constructeurs d'Automobiles. in Birmingham, England, October 16 - 27 when nearly 800,000 visitors are expected, making it the largest automotive event of its kind in Europe. They will host visitors from around the world in a 1,045 square foot booth, primarily devoted to the SENS-O-LOCK product. "I believe our success in Europe will be greatly enhanced by our contract with Digital," Bob Whitney concluded. "They have confirmed that they have the contacts, the financial resources and the experience to move us into the mainstream of the European automotive world. More important, the enthusiasm shown by Mr. Ghazarian and his people give us confidence in their ability to carry our product and marketing message across the European continent with the same level of excitement we are generating here, in the United States." The Company notes that the above contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events or the future financial performance of the Company. Actual results or events may differ materially. Please refer to the Company's last filed Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and/or 10-Q with the Securities and Exchange Commission for important factors that could cause the actual results to differ materially from those contained in these forward-looking statements. Alcohol Sensors International, Ltd. sells, and through a network of installation centers, services, repairs and installs a line of patent pending SENS-O-LOCK ignition interlock devices that are designed to detect, evaluate and help prevent an intoxicated in·tox·i·cate v. in·tox·i·cat·ed, in·tox·i·cat·ing, in·tox·i·cates v.tr. 1. To stupefy or excite by the action of a chemical substance such as alcohol. 2. driver from operating a vehicle equipped with the Company's devices. The Company's products are marketed to the legislative (State) mandated installation market, the corporate fleet market and to individual vehicle owners. CONTACT: Dr. Steven A. Martello Vice President, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. ALCOHOL SENSORS INTERNATIONAL, LTD. 516-342-1515 or Stephen D. Axelrod, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. Mona J. Walsh WOLFE AXELROD ASSOCIATES 212-370-4500 e-mail: 76015.440@compuserve.com |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion