CODE-ALARM SIGNS AGREEMENT WITH METRO CELL
CODE-ALARM SIGNS AGREEMENT WITH METRO CELL MADISON HEIGHTS, Mich., Sept. 2 /PRNewswire/ -- Code-Alarm, Inc.
(NASDAQ-NMS: CODL), leading manufacturer of vehicle and home security systems, today announced it signed an agreement to supply Metro Cell, the mobile communications leader headquartered in Detroit, with wireless home security products and vehicle security systems. Metro Cell, under its newly formed company, Metro Cell Security, will sell and distribute Code-Alarm's security products in Michigan and northern Ohio.
Part of the agreement with Metro Cell also includes the sale of Code-Alarm's Central Monitoring Station in Madison Heights. As a result, Metro Cell Security will offer worldwide 24-hour monitoring services for both homes and those automobiles equipped with Code-Alarm's revolutionary vehicle tracking and communication systems, "Intercept" and the "Chapman 911CLS." "We are very pleased to enter into this new partnership with Metro Cell, as Metro Cell is well-known for its aggressive retail and marketing programs," Rand Mueller, president and CEO of Code-Alarm, Inc., said. "For the first 12 months, Code-Alarm fully anticipates revenues from this agreement to reach well in excess of $1 million." The percentage of single-family homes with security systems has more than doubled since 1985 and is expected to grow another 50 percent by the year 2000, according to a study completed in 1991 by Parks Associates as reported in Security Sales magazine's 1992 fact book. -0- 9/2/92 /CONTACT: Sheryl Gruener, public relations manager, Code-Alarm, Inc., 313-583-9595/ (CODL) CO: Code-Alarm, Inc.; Metro Cell; Metro Cell Security ST: Michigan IN: AUT TLS SU: LIC
SM -- DE020 -- 6002 09/02/92 14:54 EDT
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|Date:||Sep 2, 1992|
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