Save the World Air Appoints Exclusive Distributor for China
24 Enero 2006 - 8:00AM
PR Newswire (US)
LOS ANGELES, Jan. 24 /PRNewswire-FirstCall/ -- Save the World Air,
Inc. (Pink Sheets: ZERO.PK) today announced that is has appointed
Golden Allied Enterprises (Group) Co., Ltd. (GAE) to serve as the
company's exclusive distributor for its ZEFS and CAT-MATE devices
in the People's Republic of China. In a signing ceremony at the
company's new product development facility in Morgan Hill,
California, a Distribution Agreement was entered into by the
company's wholly-owned subsidiary, STWA Asia Pte. Limited and GAE.
The Distribution Agreement provides for the sale of up to
11,500,000 devices over five years, with an initial order of
100,000 units to be placed before July 31, 2006, and minimum
increasing targets for orders in successive years of the agreement.
Sales under the agreement are contingent upon, among other things,
the company's completing EURO2 testing in Shanghai, China prior to
March 31, 2006. The company believes that these tests will
replicate the successful independent EURO2 tests recently conducted
at the Pollution Control Department, Ministry of Natural Resources
and Environment, Thailand. Bruce McKinnon, President of Save the
World Air, stated, "This distributor agreement is a milestone for
our company. It is in accordance with our strategic marketing plan
for the emerging markets in Asia where demand for the company's
ZEFS and CAT-MATE is expected to be driven by the implementation of
new exhaust emissions regulations. The Asia/Pacific region accounts
for 85% of the world motorcycle demand (32.8 million units in 2004,
of which 17 million were produced in China) and the market is
growing at a rate of 6% per annum". GAE specializes in assisting
U.S. companies develop business opportunities in China, through a
network of U.S. and Chinese businessmen, investment bankers and
politicians in both countries. Through one of its Chinese advisors,
GAE has been deeply involved in Shanghai Volkswagen, the first and
largest automobile joint venture in China, as well as United
Automotive Electronic Systems, Ltd., a German-Chinese joint venture
that became the largest auto parts manufacturing company in China.
GAE has offices in Shanghai and Santa Cruz, California. John
Bakalian, President of GAE added, "We will focus on supplying ZEFS
and CAT-MATE devices to motorcycle and small utility engine
manufacturers and we are confident of meeting the minimum
performance levels in our agreement. We are honored to serve as
Save the World Air's exclusive distributor in China". Save the
World Air, Inc. is currently engaged in the product development and
initial sales and marketing of devices using proprietary
technologies that can be installed on motor vehicles, motorcycles
and stationary engines to reduce harmful emissions, improve fuel
efficiency and/or improve performance. Safe Harbor Statement This
press release contains certain forward-looking statements. These
forward-looking statements, which are included in accordance with
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, may involve known and unknown risks,
uncertainties and other factors that may cause actual results and
performance in future periods to be materially different from any
future results or performance suggested by the forward- looking
statements in this press release. Although we believe the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, we can give no assurance that actual
results will not differ materially from these expectations. From
time to time, these risks, uncertainties and other factors are
discussed in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-KSB for the year
ended December 31, 2004. For further information, please contact:
Eugene E. Eichler, CEO Save The World Air, Inc. +1-818-487-8000
First Call Analyst: FCMN Contact: debbieg@militaryconnection.com
DATASOURCE: Save the World Air, Inc. CONTACT: Eugene E. Eichler,
CEO of Save The World Air, Inc., +1-818-487-8000 Web site:
http://www.savetheworldair.com/
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