Auxer Group Sales Growth is Up.WAYNE, N.J.--(BUSINESS WIRE)--August 5, 1999-- The Auxer Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AXGI) announced today that sales for the group's subsidiaries were up more than $200,000 for the first six months of 1999 compared to the first six months of 1998. The increase in sales is attributed to new contracts for Harvey Westbury's 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. products and automotive lines as well as a solid second quarter of sales from Hardyston Distributors, its recent acquisition. "It is very exciting to begin to see some of the positive results from our reengineering efforts in Harvey Westbury over the last 24 months show up in revenue. Sales for the group this year already exceed sales for the entire year of 1998. Based on discussions with management, I believe this is only the beginning as Harvey Westbury's revenue is projected to continue strong growth as the other reengineering projects on the other lines are completed and Hardyston's distribution continues to develop," said Eugene Chiaramonte, Chairman of The Auxer Group. Additionally, the company is anticipating announcing letters of intent very soon with at least one group for the acquisition of internet businesses and technology. The company is currently in discussions with several groups. The company expects the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). to add the letter "E" to Auxer's symbol 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. (AXGI(E)) to indicate a non-reporting status with the SEC. The company remains on schedule with its Form 10 SB filing and anticipates meeting reporting requirements to the SEC. ABOUT THE COMPANY The Auxer Group, Inc. (OTC-BB "AXGI") is an investment holding company that is comprised of three wholly-owned subsidiaries: Harvey Westbury Corporation, CT Industries and Hardyston Distributors. Auxer Group is a manufacturer, wholesaler and distributor of automotive, marine and aviation after-market and hardware products. These products are currently sold to major retail chains around the country including, PEP BOYS, MANNY Manny may refer to: In nobility:
WAL Walloon WAL Weighted Average Life WAL Wide Angle Lens WAL Write Ahead Log WAL WATS Access Line WAL Watertown Arsenal Laboratories (Massachusetts) MART, KMART, WEST MARINE just to name a few. The Auxer Groups' most well known products include Easy Test Testers and Air Conditioning Accessories, GARRY'S ROYAL SATIN WAX AND POLISHES (a 70 year old superior car and marine wax line), FORMULA 2000 ULTIMATE (A high performance engine treatment). 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 |
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