XPEL Signs Worldwide Exclusive For New Product Offering
XPEL SIGNS WORLDWIDE EXCLUSIVE FOR NEW PRODUCT OFFERING
– U.S. Patent-Pending Products for Light Duty Trucks –
– 9 Million Light Trucks Sold Annually in the U.S. –
– Nearly 100 Million Trucks in Operation Throughout U.S. –
– Installable in Less Than 15 Minutes –
SAN ANTONIO, TEXAS, April 11, 2007…XPEL Technologies Corp. (TSXV: DAP.U) announced today the signing of a 5-year worldwide exclusive agreement with Arizona-based SmartShield, to distribute their newly introduced patent-pending Paint Protection Liner product for both new and used light duty trucks.
The SmartShield Paint Protection Liner product is a highly durable fade-resistant polyurethane compound, used to protect vehicles from road debris and damage to critical vehicle areas such as Rocker Panels, Bed Rails, Tail Gates, and can even be used for hood and bumper protection. SmartShield will exclusively utilize XPEL Paint Protection Designs for all of its manufactured kits, and the Paint Protection Liner product can be easily installed on any vehicle in 15 minutes or less. Additionally, XPEL will exclusively process all product orders for SmartShield worldwide.
XPEL’s Chief Executive, Steven J. McAuley, stated, “We are extremely excited about the market potential of this product and anticipate rapid sales penetration in both the new vehicle and the very large pre-owned markets. Based on XPEL’s high quality designs, our company will generate new revenue on each unit sold, and will also earn fees by managing the order completion process on behalf of SmartShield.” Mr. McAuley further added, “SmartShield has proven to be a strong and innovative partner, creating a product that consumers are sure to embrace, given its protective qualities and ease of installation.”
Malcolm Hilcove, SmartShield’s CEO, commented, “Our initial target market for this product is the nearly 9 million new light trucks sold annually in the U.S., with the follow-on opportunity to expand worldwide. The potential is enormous, especially when you look beyond light duty trucks and consider the many commercial and fleet vehicles that would benefit by eliminating expensive restoration costs from such an easy-to-install product.” Mr. Hilcove further noted, “The decision to partner with XPEL gives us a foundation for growth using their precise pattern designs, existing distribution and order fulfillment capabilities, allowing our Company to focus on manufacturing and product development.”
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)