Nearly 8 Million U.S. Households Own an RV
Improved Revenue Opportunities for XPEL and its Product Dealers
SAN ANTONIO, March 22 /CNW/ - XPEL Technologies Corp. (TSX Venture:
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.
For further information:
For further information: XPEL Technologies Corp. Craig K. Clement,
210-678-3716 Senior Vice President firstname.lastname@example.org www.xpel.com