- 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, April 11 /CNW/ - 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
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
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., San Antonio Craig K.
Clement, 210-678-3716 Senior Vice President firstname.lastname@example.org www.xpel.com