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CSI International's New Private Label Contract Boosts Franchise Sales, and Has Potential to Double Retail Distribution over the Next 6 Months
11/24/2003 11:32:00 AM
CALGARY, ALBERTA, Canada, Nov 24, 2003 (BUSINESS WIRE) -- CSI International Inc., a technology and products leader in the global micro paint repair industry, said today that a new private label contract it has been awarded helped get a top Canadian auto aftermarket industry company off to a fast start in franchise sales, and has the potential to dramatically impact its own distribution and sales.
The contract was awarded to CSI by CrackMaster(TM) Distributors Ltd. of St. Albert, on behalf of its ChipMaster(TM) Auto Paint Systems subsidiary, with CSI creating custom formulations and products for private label sales to and through ChipMaster distributors.
"If ChipMaster is successful in reaching its goal of franchises in place by next Spring, this contract has the potential to virtually double retail distribution of CSI paint systems, including private label product, over the next six months," said CSI's Stanton Hill.
"This is an exciting time for CSI," Hill said, noting that CSI signed a Letter of Intent earlier this month to be acquired by NeoMedia Technologies, Inc., ( NEOM ), of Fort Myers, Florida, a public company and an innovator and worldwide leader serving business, government and consumers with patented technologies which connect bar-type codes to targeted online information (see "NeoMedia Technologies to Acquire CSI International, Private Canadian Company and Strategic Alliance Partner with DuPont," Business Wire, Nov. 10). Hill said that when the acquisition closes, NeoMedia plans to build on CSI's well-established inroads with automotive and chemical multinationals for sales of its technology products and platforms.
A Boost to Franchise Sales
"As a direct result of our analysis and demonstrations of the more than 125 new products formulated by CSI exclusively for ChipMaster, 21 franchises have been sold in Canada in the last three weeks," said Ivan Mayer, the entrepreneurial founder and president of both parent and subsidiary companies, and a 35-year veteran of the automotive industry. "That success in selling franchises led us to amend our original contract, signed in September, with an agreement which welcomes and accepts the products engineered by CSI on our behalf.
"CSI is the leader of the micro paint repair industry," said Meyer. "Its reputation, its strategic alliance with the Dupont(R) Automotive Finishing Division, and the outstanding products it developed for ChipMaster helped achieve a very successful launch of our franchise program in Canada," he said.
Mayer said ChipMaster will participate in CSI's "Train the Trainers(TM)" program, with CSI training a ChipMaster staff member, who, in turn, will serve as the internal trainer of new franchisees. He said ChipMaster hopes to have 75 or more franchises established in Canada by next May.
ChipMaster franchisees serve consumers in Canada, as well as provide repair services on a business-to-business basis.
CSI, said Hill, has had a similar relationship in the U.S., established in May 2003, with NOVUS(R) and its Shat R Proof(TM) Corp. division.
About CSI International, Inc.
CSI International Inc. ( ) is a 13-year-old Canadian company based in Calgary, Alberta, specializing in the formulating and manufacturing of products and services for the worldwide micro paint repair industry. Privately-held, CSI offers a system and processes utilizing proprietary technology.
About ChipMaster Auto Paint Systems
A subsidiary of the highly successful CrackMaster Distributors Ltd., an award-winning leader of Canada's automotive aftermarket industry, ChipMaster Auto Paint Systems was founded in 2003. With more than 21 franchises signed to date, ChipMaster offers a complete system of products and an auto paint repair system warranted to ensure customer satisfaction.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
All trademarks are properties of their respective owners.
SOURCE: CSI International Inc.
Copyright (C) 2003 Business Wire. All rights reserved.
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