XPEL Offers Recreational Vehicle Paint Protection Products
XPEL OFFERS RECREATIONAL VEHICLE PAINT PROTECTION PRODUCTS
– Nearly 8 Million U.S. Households Own an RV –
– Improved Revenue Opportunities for XPEL and its Product Dealers –
SAN ANTONIO, TEXAS, March 22, 2007…XPEL Technologies Corp. (TSXV: DAP.U) announced today the signing of a five-year exclusive distribution agreement with Arizona-based SmartShield, to integrate SmartShield’s recreational vehicle (“RV”) paint protection patterns into XPEL’s electronic database of automotive products.
According to a recent University of Michigan study conducted by Dr. Richard Curtin, nearly eight million U.S. households now own an RV, which translates into a 15 percent increase over the past four years and a 58 percent gain since 1980. Last year alone, 390,500 RVs were shipped in the U.S., making 2006 the best annual total of the previous 30 years. According to Dr. Curtin, growth rates in the RV marketplace are likely to continue in the long-term, as he projects the number of RV-owning households will rise to 8.5 million by the year 2010. According to the data, the fastest growing segments for RV purchases are buyers aged between 35 and 54.
Steven J. McAuley, XPEL’s CEO, stated, “This is an exciting addition to our already substantial database of vehicle paint and headlight protection products. Placing this premium line into our established distribution network does not require any increase to our fixed costs, yet it provides immediate improvement to XPEL’s revenues. Additionally, making these new RV patterns available to XPEL DAP licensees gives them an opportunity to generate more profits in their respective markets, which we believe can be substantial.”
Rik Roberts, President of Recreation Promotions, Inc., a division of RV Consulting Group, Inc., commented, “We just took delivery of a new full body-painted RV for our promotional activities, and we were stunned at the $3,000 worth of paint damage the vehicle sustained in just a 1,000 mile delivery drive from the factory. Without question, we see XPEL Paint Protection Products as being a highly functional and a very cost effective solution to diminish road debris damage to vehicle paint. If our coach had been protected by XPEL, we would have undoubtedly saved the monies spent to repaint and restore our new vehicle.”
Malcolm Hilcove, SmartShield’s Chief Executive stated, “Having signed an agreement to utilize XPEL’s technology and market channels for reaching RV customers really excites me. Their DAP software gives us the capability to rapidly accelerate our business model in a broad and highly efficient manner.” SmartShield serves the Arizona marketplace with paint protection film, headlight kits and window tint products, and is owned and operated by Inyati Bedliners, the state’s leading Sprayed-in bedliner company.
XPEL Technologies Corp. is the worldwide leader in the electronic delivery of automotive aftermarket products, utilizing the Internet as an integral component for its design, manufacturing, distribution and customer relationship strategies. The Company’s DAP software utility offers Dealers the industry’s most efficient and productive tool set to better serve customers with “best-in-class” solutions in real-time. XPEL has clear advantages over the competition through its expansive proprietary library of installation-friendly paint and headlight protection and window tint products, coupled with unique web-based remote manufacturing and distribution software, superior installation training curriculum and world class facilities, with established and growing sales channels.
The TSXV has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)