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MOTIONS AND PROMOTIONS
The keynote speaker was Bill Sartor, president of the International Carwash Association. Sartor spoke on the current ICA initiatives and the importance of participating in state or regional association activities. Walt Hartl, president of NYSCWA, offered an update on the association's activities. Matters covered included the group's sales tax efforts. Although repeal in 2003 was unlikely, Hartl emphasized the importance of the association continuing to keep its name in front of key legislators. He also asked for increased
Carwash PAC support so lobbyists Judy Klein and Connie Crane, as well as association members, could attend some key legislative functions over the next year.
Mike Benmosche of Brown & Brown Insurance updated the group on the insurance program and the state of the insurance market right now.
IOWA CHANGERS UPGRADE
The new Iowa Changers unit utilizes San Diego Magnetics advanced thin
film technology to validate the bill. The new bill validator is more reliable
and robust and offers much more security than other models. It is less
prone to "stringing" of bills. The system is capable of verifying
all denominations of currency.
KÄRCHER SALES UP
Kärcher gantry washes travel over the vehicle using a refined contour-following system to guarantee uniformly good washing results over the vehicle's entire surface. Patented Kärcher power nozzles achieve an impact pressure that is up to 40 percent higher than conventional nozzles. Kärcher car washes are available as pure high-pressure touchless gantries or as combination gantries with soft-foam "Carlite" washing brushes.
ICSI is headquartered in West Palm Beach, FL and sells, installs, and services Kärcher vehicle washes nationwide through a network of factory trained distributors. The company is a long-standing and committed partner of Alfred Kärcher GmbH Co., a German company founded in 1935, with a workforce of 5,500 and an annual sales volume of more than one billion Euro. Both companies co-operate closely in developing Kärcher vehicle washes for the American market and see themselves as emerging-market leaders in innovative vehicle washing technology. Further expansion of the vehicle wash business in the United States is planned for the coming years.
MACE BUYS BACK SHARES
On October 15, 2002, Mace announced that it had purchased a block of 429,000 shares of the company's common stock in the open market at a price of $0.51 per share. These shares represent 1.7% of the company's total shares outstanding. Mace plans to immediately retire these shares, which will eliminate them from the open market float and increase the company's book value per share from $2.56 per share to $2.59 per share (based on data as of June 30, 2002).
While Louis D. Paolino, Jr., chairman and CEO of Mace, declared that at the current level of the stock price, management considered Mace to be significantly undervalued, the block purchase seemed to do little to bolster investor confidence. "Our decision to purchase these shares results from the belief that the market has undervalued our business. Further purchases will be considered in the future," Paolino added.
A majority of exhibitors (64 percent) said they were very pleased with the high level of trade-visitor decision-making authority. Around two-thirds of visitors hold an executive position in their company. Forty percent of trade visitors came from outside Germany. After Germany, the top ten visitor countries were France, Great Britain, Italy, the USA, Poland, The Netherlands, Belgium, Israel, Spain and Greece.
A total of 4,291 exhibitors from 70 countries took up 300,000 square meters of indoor exhibition space at Automechanika 2002. In an effort to make it easy for US car care companies to test the waters in Europe via Automechanika, the International Carwash Association put together a "North American Carwash Pavilion," and was successful in attracting nine exhibitors including Auto Laundry News.
CITGO OFFERS E-COMMERCE TOOL
Once established, CITGOConnect can serve as a marketer's sole web presence or as a component of an existing web site. Program features include:
For more information on CITGO, see the company's web site at www.citgo.com.
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