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UniverCell Holdings Signs Letter of Intent to Merge with Daytonabrands, Inc.
MIAMI BEACH, Fla., Dec. 23, 2005 (PRIMEZONE) -- UniverCell Holdings, Inc. (OTCBB:UVCL) and Daytonabrands, Inc. announced today that they have entered into a Letter of Intent to merge.
Daytonabrands is a consumer and OEM products company focusing on the $29 billion automotive aftermarket and accessories industry. The company's key management has significant consumer products experience coming from such respected companies as ArmorAll, ProTeam, ConAgra, Disney and Clorox.
Daytonabrands distributes products directly to the consumer via infomercial direct response television (DRTV) and national catalog publications such as SkyMall. Retailers include Albertson's/Sav-On Drug Stores, Costco, Ace Hardware, CSK, Schucks, Checker, Kragen, Advance Auto, AutoZone, Walgreens and others. The company also sells as OEM for branded names such as Craftsman, Genie and Shell.
Through an exclusive relationship with QMI, a recognized global leader of fuel and oil additive performance chemicals, Daytonabrands has secured the exclusive rights to their consumer products line. The company is projecting significant sales in this proven consumer category as QMI is providing not only their proprietary superior performance products but also the critical independently and Government audited test data required to support the claims.
Scott Harkness, CEO of Daytonabrands, stated, "Our powerhouse management team consists of former ArmorAll Corporation founder, President and CEO, Alan Rypinksi and others from ProTeam, ConAgra, Disney and Clorox. Daytonabrands products are consumer proven winners and revolutionary to the industry. Our newly constructed 150 member sales team is primarily comprised of former ArmorAll sales and distribution representatives. All combined, Daytonabrands, Inc. is poised to be a significant player in the $29 billion automotive aftermarket and accessories industry."
Sean Y. Fulda, CEO of UniverCell Holdings, Inc., commented, "We are very pleased to have found a merger partner who will be able to significantly increase shareholder value as they establish themselves as a leader in this multi-billion dollar industry. I am confident that the company's executives, who have proven themselves in the automotive and accessories industry, will make Daytonabrands another success story like Armor-All."
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements, which include, but are not limited to, the successful completion of the proposed merger and the benefits expected to be derived therefrom, are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Readers are cautioned not to place undue reliance on these forward-looking statements.
CONTACT: UniverCell Holdings, Inc. Sean Y. Fulda (786) 276-7817 sean*rentalcell.com
Source: PrimeZone (December 23, 2005 - 9:29 AM EST)
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