ORLANDO, Fla., Nov. 22, 2010 (GLOBE NEWSWIRE) -- General Automotive Company (OTCBB:GNAU), a North American provider of aftermarket parts and advanced technology for the automotive industry, today announced the launch of its New Direct Import program for Automotive Undercar products.
The Undercar program includes Brake Drums and Rotors, Wheel Hubs and U-Joints. All product lines will have some of the strongest application coverage in the industry, covering Domestic, Asian, and European Makes. The Direct Import (DI) product lines will be excellent quality coming from certified manufacturing facilities. All part numbers go through a stringent quality control procedure and will be validated for the U.S. market.
The program will be very competitively priced in order to compete with any DI program in the marketplace. All product lines will have up to date cataloging and can be sold through the OE Source private brand or through a private label program.
General Automotive through its joint venture General Automotive China/ Taichi Automotive, which was announced last month, was designed to specifically focus in the development and sourcing of quality automotive parts while cultivating new manufacturing and distribution opportunities. Through its China operation General Automotive will be able to control and support its product manufacturing which will ensure quality, delivery and competitive pricing.
"This is another great example of how our new joint venture, General Automotive China/ Taichi Automotive continues to allow us to expand into new product lines which are both of the highest quality and extremely price competitive. We continue to grow our manufacturing and supplier base through General Automotive China; this allows us to better serve our customers in helping them achieve a more economical and higher quality product," explains Dan Valladao, Chief Executive Officer and President at General Automotive.
About General Automotive Company
General Automotive Company provides original equipment and aftermarket automotive parts, and automotive technology in the United States and internationally. It focuses on automotive parts sales and distribution through its subsidiary, OE Source L.C., General Automotive is also partnered in GreenCell Inc., a joint venture with SenCer Inc., a New York based ceramic technology company. GreenCell, Inc., has created "Ultra-Temp", a proprietary technology and a potential game changer for the manufacturing of multiple automotive products including oxygen sensors, brakes and SOFC fuel cells for powering automobiles. General Automotive Company ("GAC") is also focused on expanding its operating growth platform through multiple and ongoing acquisitions of successful automotive parts companies. General Automotive Company is based in Orlando, Florida.
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About Taichi
Taichi was established in 2007 byXiaodong Han, founder of China operations of United Components Inc.; Yubing Wang, founder and Chairman of Beijing Oriental Zizhi Cultural Communications Co., Ltd; S.S. Liu, co-founder of Framedia; and Tom Zeng. Taichi Automotive is a China sourcing and market entry service provider based in Shanghai, China. Taichi has assisted many market leaders from $20 million annual sales to $60 billion in discovering and engaging China resources including sourcing over $500 million worth of products ranging from auto parts to consumer products.
Safe Harbor Statement
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. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: General Automotive Company Investor Relations Paula Bausman 407-363-5633 pbausman@generalautomotive.com