XPEL Launches Patent-pending Clear Coated Paint Protection Film
XPEL LAUNCHES PATENT-PENDING CLEAR COATED PAINT PROTECTION FILM
– Company to transform the industry with patent-pending clear coated film available in two grades and a new 54-inch roll –
San Antonio, Texas – October 23, 2007 – XPEL Technologies Corp. (TSXV:DAP.U) announced today the launching of its Clear Coated Paint Protection Film which will transform the industry and make XPEL the leading full-service provider of Paint Protection Programs worldwide.
“With this exciting announcement, XPEL puts the final piece of the puzzle in place, making our Company the leading full-service partner for the Paint Protection industry”, states XPEL Chief Executive Officer, Steven J. McAuley. Mr. McAuley added, “XPEL has been strategically working towards this goal for some time. We listened to our customers and knew that they wanted industry transformation and a partner that offered an end-to-end solution. XPEL is very pleased to now be able to offer that solution to our valued Paint Protection Program partners. Not only are we transforming the industry by bringing them a new film, XPEL film is unlike anything the industry has ever seen.”
Traditional clear or top-coated paint protection film has only been available in rolls up to 48 inches wide, forcing installers to leave an unattractive line during full hood installations. XPEL’s new film product comes in rolls up to 54 inches wide. This allows installers the ability to perform a complete hood installation without an unsightly break in the film. This new size saves the installer labor time, film cost and creates much higher customer satisfaction ratings.
Two Grades of Film
For the first time ever, paint protection installers will be able to choose from two grades of Clear Coated film. XPEL’s new Clear Coated Paint Protection Film is available in Standard and Premium grades. Unlike other films that may appear blurry or have an “orange peel” texture, XPEL’s new Premium Clear Coated Paint Protection Film is unmatched in its clarity, quality and texture.
XPEL is geared to revolutionize the paint protection industry. By introducing XPEL-branded Clear Coated Paint Protection Film, XPEL completes its comprehensive Paint Protection Partner Program. Installers and dealers of paint protection products will now be able to receive from XPEL everything they need to run a thriving paint protection business. Further, XPEL plans on growing the industry at large and playing a key role in increasing the penetration rate of installed film on new cars.
XPEL and its network of partners represent 40 to 45 percent of all paint protection retail sales in the United States. The current penetration rate of installed film on new cars is estimated to be only one (1) percent. By providing a comprehensive Paint Protection Partner Program, and through its established distribution channels in Europe, Asia, Middle East and Australia, XPEL will assist its network in increasing the penetration rate in the U.S. and throughout the world.
About XPEL Technologies Corp.
With distribution channels in Europe, Asia, Middle East and Australia, XPEL Technologies Corp. is the worldwide leading supplier of automotive survival products. XPEL sells automotive paint, headlamp protection products and installation tools and is the developer of the Design Access Program software. XPEL sells its products directly to consumers and installer partners, providing them everything they need to develop a thriving paint protection business. In addition to its expansive line of products, the Company offers installation training and marketing support, making it the premier source for dealers and installers of paint protection products. XPEL is publicly traded on the TSX Venture Exchange. Additional information can be found on the company’s website at www.XPEL.com.
Certain statements contained herein such as: “which will transform the industry” and “making our Company the leading full-service partner” are considered “forward-looking statements.” These types of statements are based upon the belief of the Company’s management, as well as assumptions made beyond information currently available to the Company’s management. Because “forward-looking statements” are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, price competition, the inability to obtain additional capital, loss of key personnel, unavailability of leased facilities, technological changes, service interruptions, equipment failures, customer attrition, general economic conditions, relationships with vendors, government supervision and regulation, changes in industry practices, and other factors.
The TSX Venture Exchange 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)