Auxer's Automotive Group Seeks to Enter $3.6 Billion Motor Vehicle Filter Market.Business Editors Auxer's Subsidiary Harvey Westbury Corp. Enters Manufacturing Agreement With Autotech Engineering Ltd. The Auxer Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AXGI - www.axgiinvestor.com) announced today that Auxer's subsidiary Harvey Westbury Corp. completed an agreement with Autotech Engineering for production, manufacturing and distribution of a line of motor vehicle filters designed and engineered to compete with major brands such as Group 7(R) and Casite(R). Autotech Engineering is a top-ranking South Korean manufacturer and exporter of automotive and industrial filters. Autotech is highly respected in their field and meets international standards of QS9000 and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 on their products. The Automotive Group plans to launch its oil filter line in the fourth quarter of 2002. The oil filter line is the first of three filter product lines the company plans to introduce. The company plans to announce its trademark in the coming weeks and plans to present the new line at the AAPEX AAPEX Automotive Aftermarket Product Expo AAPEX Association of Agricultural Production Executives show later this year. "The Automotive Group has been pre-marketing and developing this product since last year. We believe this line can become a major revenue and profit center for our Automotive Group. The company has already taken in purchase orders and Autotech Engineering is a recognized leader in filtration products on an international level. We believe this is a great opportunity," said Eugene Chiaramonte, Chairman. ABOUT THE COMPANY The Auxer Group is a holding company that consists of two groups; a Telecommunications Group and an Automotive Group. The Telecommunications Group is focused on distribution of prepaid products, which includes The X-Factor(TM) and Platinum Series(TM). The Automotive Group is focused on aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. wholesale and distribution of automotive and marine products and parts, which includes Easy Test(R) and Garry's Royal Satin(TM). 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. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 further information please contact the Company at (800) 201-3972 and ask for investor relations Investor relations The process by which the corporation communicates with its investors. or visit our website www.axgiinvestor.com. |
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