AutoMart Completes Merger, Trades on OTC BB as Largest Independent Auto Aftermarket Company in Beijing.BEIJING & FORT MYERS Fort Myers, city (1990 pop. 45,206), seat of Lee co., SW Fla., on the Caloosahatchee River, near the Gulf of Mexico; founded 1850, inc. 1905. It has a tourist trade and light industry and is a shipping point for citrus fruits, winter vegetables, flowers (especially , Fla. -- AutoMart (Beijing Sino-US Jinche Yingang Auto Technological Services Ltd.) - the largest independent auto aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. company in Beijing - said today that it has completed a merger with Deep Field Technologies, Inc., of Matawan, N.J. and is trading on the OTC Bulletin Board 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. under Deep Field's symbol, DPFD DPFD Des Plaines Fire Department (Des Plaines, IL) DPFD Dynamic Packet Filter Daemon . The parties finalized and completed an Amended and Restated Securities Exchange Agreement announced last month for AutoMart, a China-based joint venture formed between Beijing Silver Harbor Car Service Center and Mayflower Mayflower, ship Mayflower, ship that in 1620 brought the Pilgrims from England to New England. She set out from Southampton in company with the Speedwell, Auto Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , to be acquired by Deep Field through a reverse merger. AutoMart (www.AutoMart-China.com), said its Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Pang Guisan, is the first auto service joint venture created since China entered the World Trade Organization. AutoMart provides a wide range of automobile after-sales services, including maintenance and repairs, insurance, parts, interior furnishings, care products, tires, and windshields. "Everyone at the now-combined company looks forward to an exciting and rewarding future focusing on the vast opportunities in the auto aftermarket in China," he said. "Today," he said, "the potentially vast automotive repair and maintenance industry in Beijing and throughout China is in its infancy -- highly fragmented with many small, local shops. AutoMart is changing the business model through our chain of automotive repair and maintenance facilities. In Beijing alone, AutoMart operates the largest auto aftermarket business, with more than 450 employees." Mr. Pang, formerly a high-ranking government leader, left government for the auto aftermarket business five years ago. His expertise in the auto industry includes serving as deputy chairman of both the China Vehicle Association and the Vehicle Service Association of China. About AutoMart China AutoMart China (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: DPFD, www.automart-china.com) is a full-service automotive repair and maintenance company operating throughout Beijing, with more than 450 employees. The typical AutoMart facility is substantially larger than most other automotive repair facilities, with its largest being nearly 100,000-square feet. Along with its focus on repair and maintenance, AutoMart owns and operates automotive insurance agencies co-located within each of its repair facilities. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. |
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