XPEL Establishes European Operations To Support International Growth
XPEL ESTABLISHES EUROPEAN OPERATIONS TO SUPPORT INTERNATIONAL GROWTH
San Antonio, TX – October 2, 2014 — XPEL Technologies Corp. (TSXV: DAP.U), a leading supplier of automotive paint and headlamp protection films, today announced the opening of a U.K. facility to provide sales support, distribution and training in the European marketplace.
Mr. Ryan Pape, President and Chief Executive Officer of XPEL, commented, “The international market is a growing portion of our sales and the U.K. facility will serve as a foothold to move XPEL closer to customers and partners in the region.”
The new U.K. operation will include:
- A training center and support facility bringing European customers the same level of customer service available in the United States.
- Inventory for the region, thereby supporting European customers’ desire for fast in-region product availability.
- A design department to create patterns for automobiles sold in Europe and beyond.
The establishment of the XPEL U.K. facility was facilitated by the acquisition of an existing small arm’s length business along with certain other assets. Terms were not disclosed. The Company will incur legal and other one-time costs in the third quarter related to the opening of the U.K. facility.
Mr. Pape concluded, “Having a direct sales and support presence in Europe will translate into increasing numbers of XPEL Certified Installers, greater brand awareness, improved availability and delivery time for our products and an enhanced design library that will meet the needs of our customers worldwide.”
About XPEL Technologies Corp.
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. XPEL is the developer of the Design Access Program software, and manufacturer of XPEL™ Automotive Paint and Headlamp Protection Products. XPEL has forged the cutting-edge of automotive protection technology, and leads the industry in quality, technical support and customer service.
Additional information can be found on the Company’s website at www.xpel.com
Safe harbor statement
This release includes forward-looking statements regarding XPEL Technologies Corp. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, and execution of the company’s growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company’s products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)