Auxer's Subsidiary, Harvey Westbury Enters Joint Venture With Leading Alternative Refrigerant Supplier.Business Editors WEST PATERSON West Paterson (păt`ərsən), borough (1990 pop. 10,982), Passaic co., NE N.J., a suburb of Paterson; inc. 1914. Electric, electronic, and photographic products are made in the borough. , N.J.--(BUSINESS WIRE)--Oct. 30, 2000 The Auxer Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AXGI) announced today that its subsidiary, Harvey Westbury has completed a Joint Venture agreement with United Suppliers of America, Inc. to produce Easy Test(R) Autofrost(TM) Air Conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. Kits with Autofrost(TM), a leading alternative refrigerant re·frig·er·ant adj. 1. Cooling or freezing; refrigerating. 2. Reducing fever. n. 1. A substance, such as air, ammonia, water, or carbon dioxide, used to provide cooling either as the working substance of (to CFC-12). Autofrost(TM) is a recognized brand name for alternative refrigerants Chemical refrigerants are assigned an R number(sometimes the label replaces it with the word Freon) which is determined systematically according to molecular structure. The following is a list of refrigerants with their R numbers, IUPAC chemical name, molecular formula, and CAS number. , EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. accepted, 94% less Ozone depleting than CFC-12, and 89% less global warming global warming, the gradual increase of the temperature of the earth's lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. than CFC-12. Additionally, the refrigerant has a faster cool down period which will produce 3 to 12 (degree) F colder temperatures according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. United Suppliers of America, Inc. Under the terms of the agreement, Harvey Westbury will have exclusive manufacturing and distribution rights, both domestically and internationally, to any and all kits containing Autofrost(TM) alternative refrigerant. Harvey Westbury believes it can become a major supplier over the next couple of seasons for kits and accessories for the Alternative and HFC-134a refrigerant markets which the company believes is approximately $135 Million combined. As the availability for domestic CFC-12 refrigerant continues to diminish, the aftermarket automotive retail industry is seeking to replace demand for CFC-12 with an Alternative refrigerant. As CFC-12 refrigerant supplies continue to diminish due to restrictions on domestic manufacturing resulting from the Clean Air Act, demand for alternatives to CFC-12 such as Autofrost(TM) is expected to continue to grow. Additionally, the company expects that these kits will attract other major retailers to Harvey Westbury's Do-It-Yourself Kits for HFC-134a refrigerant under Easy Test(R) which gained new distribution with major retailers such as Trak Auto and National Wholesale Distribution last season. ABOUT THE COMPANY The Company is a holding company that owns an Automotive Group with three (3) active subsidiaries: The Harvey Westbury Corporation Inc., The Mechanics Depot and CT Industries, Inc. Harvey Westbury assembles and packages automotive accessories under the name, Easy Test(R), sells engine treatment under the name, Formula 2000 Ultimate(TM) and sells waxes and polishes under the name, Garry's Royal Satin(TM) to the automotive, marine, and aviation industries. The Mechanics Depot is a specialty distributor of automotive parts and accessories to local mechanics, service stations and dealers. CT Industries, Inc. has been designated to house any future internet-related business and currently handles the internet-related sales from the company's websites as well as other retail programs. Additionally, Auxer has formed a Telecommunications Group and established two (2) subsidiaries, Clifton Telecard, Inc., a wholesale distributor of prepaid phone cards and Auxer Telecom, Inc. which provides telecommunication services from telecommunications carriers to the telecommunications industry. Forward-looking statements 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 more information please visit our websites at www.auxer.com and www.axgiinvestor.com |
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