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Pickups Plus Adds Two More ValuGard Authorized Warranty Centers
Pickups Plus, Inc. (OTC BB: PUPS, www.pickupsplus.com), a retail operator and franchiser of automotive parts and accessories stores catering to the light truck and SUV aftermarket, said today that it has added two more ValuGard(TM) Authorized Warranty Centers to its growing nationwide chain.
The new centers are Line-X, 400 Conover Drive in Franklin, and Rhino Linings, 1205 South Center Street in Hickory, N.C. Both centers have contracted for the exclusive rights to the ValuGard line of warranty and reconditioning product lines within a specified area, and will market their services primarily to new local car dealerships.
Merritt Jesson, president and CEO of Pickups Plus, said that the two centers will be provided with everything they need to operate and provide auto preservation services to local auto dealerships. "Our premier service to authorized centers includes certified training, a full line of ValuGard car care and environmental protection products, and ongoing sales and marketing support," he said.
"In today's economy, smart consumers want to protect their cars, keeping them looking great and holding their value for years to come," Mr. Jesson said. "New car buyers turn to their dealers, who in turn rely on ValuGard Authorized Warranty Centers," he said, noting that in 2004, two ValuGard Authorized Warranty Centers in the Cincinnati area processed more than 15,000 vehicles for car dealers, generating revenues in excess of $1.5 million.
ValuGard Environmental Protection Products - paint sealant, undercoating, rust proofing, and leather/vinyl and fabric/carpet protectors - are used by automotive dealerships worldwide. Many of the largest vehicle manufacturers, including General Motors(R), Ford(R), Daimler Chrysler(R), Toyota(R), Mazda(R), Hyundai(R), Nissan(R), Renault(R), Saturn(R) and Saab, rely on ValuGard for their own use, for factory defect resolution, and/or private-label ValuGard products for resale in their dealerships.
Pickups Plus to Form Joint Venture in China; To Distribute ValuGard Car Care Product Line
Pickups Plus, Inc. (OTC BB: PUPS), announced today that it has signed a Letter of Intent to form a joint venture in the People's Republic of China which will market and distribute the popular ValuGard(TM) line of car care and environmental protection products in the PRC.
Merritt Jesson, president and CEO of Pickups Plus, said the non-binding LOI, signed with the Jinche Yingang Automobile Co. of Beijing, sets guidelines for a joint venture, which will have exclusive distribution rights for the ValuGard product line in China. He said the due diligence process "will start immediately, as both companies are anxious to move forward as quickly as possible.
"We have all heard of the tremendous business opportunities in China and the importance of partnering with a company there that knows the market and the industry marketplace," Mr. Jesson said. "In partnering with Jinche Yingang, we are confident that this vital first step has been accomplished.
"As China's industrialization and modernization accelerates, its automotive industry is expected to be among those at the forefront," he said. "And as the Chinese auto industry puts literally millions of cars on the road, these vehicles will need high quality care and protection products such as we currently market and distribute under the ValuGard name through our Auto Preservation subsidiary in the U.S."
Two ValuGard Lines to be distributed
Mr. Jesson said the joint venture distribution and marketing company formed by Pickups Plus and Jinche Yingang - to be known as JV - will offer both of ValuGard popular product lines:
- ValuGard Professional-Grade Car Care Products, including glass cleaner, rubber dressing, car wash soap, bug and tar remover, one-step polish, wheel cleaner, wax, carpet and vinyl cleaner, and leather cleaner and conditioner, used by professional detailers in the U.S. and recently introduced at automotive specialty stores, and
- ValuGard Environmental Protection Products, including paint sealant, undercoating, rust proofing, and leather/vinyl and fabric/carpet protectors, which are used by automotive dealerships worldwide. Many of the largest vehicle manufacturers, including General Motors(R), Ford(R), Daimler Chrysler(R), Toyota(R), Mazda(R), Hyundai(R), Nissan(R), Renault(R), Saturn(R) and Saab, rely on ValuGard products for their own use, for factory defect resolution, and/or private-label ValuGard products for resale in their dealerships.
'Bringing the Best Auto Care Products to China'
Pang Gui-San, chairman of Silver Harbor Car Center of Beijing, representing the Jinche Yingang Automobile Company, said he was "very happy to be bringing the best auto care and protection products to China. "The ValuGard name is widely known for professional-quality care," he said. "It is our hope and belief that ValuGard will be instrumental in helping make the joint venture between Jinche Yingang and Pickups Plus a success and a leader in the emerging auto aftermarket here."
About Pickups Plus, Inc.
Pick-Ups Plus, Inc. (OTC BB: PUPS, www.pickupsplus.com) is a retail operator and franchiser of automotive parts and accessories stores catering to the light truck and SUV market, with five franchised locations in the U.S. and two company owned-stores. It markets and distributes the ValuGard line of professional car care products through its Automotive Preservation, Inc., subsidiary, to automotive dealerships for new vehicle preparation, as well to detailing shops and automotive specialty stores.
About Jinche Yingang Automobile Co.
Jinche Yingang Automobile Co. is a Beijing PRC-registered company specializing in automobile sales, financing, insurance and repair.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
ValuGard is trademark of Automotive International, Inc. All other trademarks are trademarks are properties of their owners.
Pickups Plus, Inc.
Sean Hayes, 860-633-0377
shayes@pickupsplus.com
or
The Kaminer Group
David A. Kaminer, 914-684-1934
dkaminer@kamgrp.com
