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MOTIONS AND PROMOTIONS
"I am unaware of any other car wash chemical manufacturer that has attained this level of certification across all of their business processes," said Jim Thomes, the company's vice president of sales and marketing. "We were previously certified as an ISO 9001:1994 company, but we feel attainment of this new extensive and rigorous quality standard will pay dividends for all of CSI's distributors and customers as we move forward," he said.
CITGO'S TRUCK LUBE PROGRAM
According to Dave Kunkel, CITGO's product manager for the installed market, "There are millions of Class 3 though 8 trucks on the road today, each needing an average of 10 oil changes and lubrications per year. More and more, we're seeing fleets outsource the care of their heavy duty and delivery trucks to local automotive service shops. Business opportunities like the CITGO Truck Lube Program make a lot sense for automotive service technicians who want to grow their business and boost their bottom line."
MACE 3Q RESULTS
Operating income for the third quarter of 2002 was $290,000 compared to $392,000 in the same period of 2001. EBITDA was $846,000 or 7.1 percent of revenues in the third quarter of 2002 as compared to $1.4 million or 12.4 percent of revenues in the same period of 2001.
The net loss for the third quarter was $116,000 compared to a loss of $20,000 in the same quarter of 2001.
In a separate statement, two days before announcing its third quarter results, Mace announced plans to purchase up to two million shares of its common stock in the open market. This follows a previous block purchase of 429,000 shares the company announced on October 15, of which the company planned immediately to retire.
In a further statement, on the day following the stock-purchase announcement, Mace made public that it planned to hold a special stockholders' meeting on December 16, 2002 to obtain authorization for a one-for-two reverse stock split. The purpose of the reverse stock split is to have Mace's common stock trade above $1.00 in order to comply with Nasdaq listing requirements.
ROYAL SHEEN GETS PATENT
Marketed under the trade name, Polyphane(r), Royal Sheen's polymer wax/protectant offers superior protection and shine for vehicle surfaces over traditionally formulated mineral-seal-oil or vegetable-oil-based waxes currently used in car washes. Traditional oil-based waxes, because of their formulation, often offer customers only short-term protection and create the potential for smearing and spotting of their customers' vehicles.
Polyphane makes it possible to apply a durable polymer wax on cars, recreational vehicles, trucks and buses in just 5 minutes. Periodic application of Polyphane will keep vehicle paint, trim, and decals looking brand new for many years. The use of polymers dramatically improves wax durability, promotes faster drying time, and provides customers a show room shine.
1956 CORVETTE WINNER
The tour started on April 23 in Los Angeles, CA and finished in Daytona
Beach, FL on July 6. At relay events, participants met local celebrities,
picked up money-saving coupons, collected information on becoming a big
brother or sister, and signed the "MaxLife logbook." For every
SURVEY: CLEAN THAT CAR!
Maintaining a vehicle's appearance can increase its value, yet the mechanics said that less than half (49 percent) of their customers' cars appear to have the exterior properly maintained. Ninety-five percent of the technicians believe the primary reason their customers do not keep their vehicle looking good is that they are unable to spend the time and effort to do it right.
The top recommendations given by technicians for caring for a vehicle's exterior were to wash it (93 percent) and wax it (86 percent) on a regular basis. Other tips included using protection and coating products (15 percent), and touching-up dings and chips in the paint (14 percent).
The automotive reconditioning industry has lost one of its newer members and one of the most dedicated. Steve Garrett of La Junta, CO was tragically killed in a traffic accident on August 31, 2002. Just this year, Steve had opened "Car Buff," a state-of-the-art automotive detailing and reconditioning center. Previous to that, he owned self-service car washes and an auto parts store in La Junta for several years. Steve was born in Whittier, CA in 1948 and is survived by two sisters and his parents.
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