AQM Announces Major Progress in US Market Penetration.WOODBRIDGE, ONTARIO--(BUSINESS WIRE)--May 7, 1998--AQM Automotive Corpo(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AQV AQV Anticoncepcion Quirurgica Voluntaria (voluntary surgical contraception) .) (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 :AQM AQM Active Queue Management AQM Air Quality Management AQM Acquisition Management AQM Assistant Quartermaster (Civil War) AQM Additive Quark Model AQM Analog Quadrature Modulator AQM Acenaphthenequinone Monoxime .AF) AQM Automotive Corporation announced today that major progress has been made in its efforts to increase its share of the US automotive aftermarket. The Company has recently received its first order from one of the top 5 US automotive retailers, which has over 500 stores. This order is for the full product line and will be marketed under the Company's GKI GKI General Kinetics Incorporated GKI Gabriel Knight I (computer game) GKI Global Knowledge Infrastructure brand name. Initially, the Company is supplying a selected number of stores under their professional installer program. Total first year sales are expected to exceed $500,000. However, this positions G.K.Industries as an ongoing approved vendor, with a stronger possibility of further increasing sales by supplying more locations as well as their retail business. The significance of this order is that it indicates the success of the Company's marketing efforts to increase sales to those clients who are target market customers. The strategy of being the low cost full line supplier of packaged fuel filters and transmission filter kits is maturing, and the Company is now being considered as the reliable source of quality branded and private label products. In a related event, executives of the Company recently hosted buyers from one of the top five traditional distribution networks in the United States. There were very strong indications of a forthcoming initial order under a private label program. The Company notes that increasing market share will have the effect of reducing operating margins in the current quarter. However, it is expected that operating efficiency and purchasing leverage will improve margins as the year progresses. AQM Automotive Corporation is a publicly traded, Canadian based holding company whose shares are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the Nasdaq OTC Bulletin Boards OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . G.K. Industries Ltd. (G.K.I.) is the operating component of the AQM group of companies, and one of the leading companies of its kind in North America. It is involved in the procurement, manufacture, packaging and distribution of automotive fuel filters, automatic transmission filter kits, breather elements and cabin air filters. Approximately 70% of annual sales are exported, primarily to the United States. Sales are across the spectrum of the automotive aftermarket industry, including national brand name filter companies, retailers, program distribution buying groups, traditional warehouse distributors and undercar specialty networks. As the total automotive market continues to consolidate, we are increasing our sales efforts to the retail chains and large traditional distribution networks. Increasing our market share of these segments is our goal. For more than twenty five years, G.K. Industries Ltd. has developed a first class reputation for delivering quality filter products, on time, to some of the largest automotive distributors and retailers in Canada, the United States, Europe, Asia, Mexico and Latin America. The Company presently offers more than five hundred different types of filters for North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. , European, and Asian built cars and light trucks. CONTACT: AQM Automotive Corporation Timothy Nigh nigh adv. nigh·er, nigh·est 1. Near in time, place, or relationship: Evening draws nigh. 2. Nearly; almost: talked for nigh onto two hours. , Toll Free 1-800-947-8621 905/ 851-2007 (FAX) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion