Auxer Industries announces the acquisition of Harvey-Westbury.RIDGEWOOD Ridgewood, residential village (1990 pop. 24,152), Bergen co., NE N.J.; inc. 1876. Ridgewood was the site of many American and British camps in the Revolutionary War. , N.J.--(BUSINESS WIRE)--Oct. 29, 1996--Auxer Industries Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Electronic Bulletin Board: AUXI) announced today the acquisition of Harvey-Westbury Corp., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. , specializing in automotive after-market products, located in Farmingdale, New York Farmingdale is a village in Nassau County, New York in the United States. The population was 8,399 at the 2000 census. The 'Village of Farmingdale is inside the Town of Oyster Bay. Farmingdale School District includes parts of both Nassau County and Suffolk County. . Under the terms of the acquisition agreement, shareholders of Harvey-Westbury Corp. shall receive a total of 170,000 restricted shares of Auxer Industries Inc. common stock. Harvey-Westbury Corp. is well established, with a respected reputation of more than 25 years in the manufacturing, assembly, packaging, and distribution of a diverse variety of quality automotive after-market care and maintenance products, featuring quality "do-it-yourself" products used by both amateur and professional auto mechanics An auto mechanic or motor mechanic in Australian English is a mechanic who specialises in automobile maintenance, repair, and sometimes modification. A mechanic may be knowledgeable in working on all parts of a variety of car makes or may specialize either in a specific area alike. In addition, Harvey-Westbury Corp. owns the patents, trademarks, copyrights and proprietary formulations of Garry's, which was a major manufacturer of automotive paste wax products, and silicon lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. , among others. It is the intent of Harvey-Westbury Corp., as a result of this acquisition, to firmly re-establish Garry's well known and established product lines. Products manufactured and/or distributed by Harvey-Westbury Corp. are sold through major automobile supply retail chain outlets, such as Western Auto Western Auto Supply Company was a chain of automobile parts stores. It was started in 1909 in Kansas City, Missouri, by George Pepperdine, who later founded Pepperdine University. Western Auto originally started as a mail order business for replacement auto parts. Supply and Ozark/O'Reilly. In addition, Harvey-Westbury Corp. is a major supplier of automotive care and maintenance products to a number of warehouse/distributor outlets, and other equipment manufacturers, as well as a private label supplier to such noted companies as the Champ Division of Standard Motors and Yuasa/Exide. The acquisition of Harvey-Westbury Corp. is consistent with Auxer Industry's objective of developing and introducing into the marketplace (through acquisition) a complete line of automotive and other advanced technology products which are vital to the performance of various machinery and engine components. The management of Auxer Industries Inc. is confident that this acquisition will serve to complement its current expansion in the automobile after market industry and will foster the overall future growth of the company, providing a major source of national distribution for its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Formula 2000 Engine Treatment. Furthermore, management believes that with a minimal infusion of capital, Harvey-Westbury Corp. will re-establish its former level of sales, which were in excess of $3.0 million per year. Auxer will mark this major acquisition by attending the APAA/ASIA/MEMA Show and Exhibition, to be held in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. on Nov. 5th through Nov. 8th. This show is the largest single trade show and assemblage assemblage: see collage. assemblage Three-dimensional construction made from household materials such as rope and newspapers or from any found materials. of automotive after-market parts/product manufacturers and suppliers in the industry. At the exhibition, Auxer will introduce Formula 2000, as well as a number of new products developed and manufactured by Harvey-Westbury Corp. to the national, automotive after-market trade. Auxer Industries Inc. develops and markets advanced performance products for automotive maintenance and other commercial applications. The company's first product, Formula 2000, which is presently being marketed through a series of television infomercials, is a patented, proprietary engine oil treatment, which has been proven to out-perform all molecular bonding, and Teflon-based engine treatments available on the market today. Extensive field tests have shown, that when used correctly, Formula 2000 can double, or even triple the life of the average engine. CONTACT: Auxer Industries, Inc., 800/418-2002 or Wall Street Associates, 212/323-8187 |
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