Aero Performance Products, Inc. Files Form 8-K Regarding Planned Acquisition of Jones Exhaust Systems, Inc.
BLUFFDALE, Utah-(Business Wire)-January 20, 2009 - Aero Performance Products, Inc. (OTC BB: AERP), which owns controlling interest in Aero Exhaust, Inc., a world leader in performance exhaust airflow technology, today filed a Current Report on Form 8-K with the Securities and Exchange Commission regarding its planned acquisition of Jones Exhaust Systems, Inc., one of the most respected specialty exhaust manufacturers in the United States.
A link to the filing can be found on the Home page of the company’s website, www.aeroperformanceproducts.com.
The Form 8-K outlines the definitive agreement entered into by and between Aero Performance Products and Jones Exhaust Systems, under which Aero will purchase all of the issued and outstanding shares of Jones Exhaust Systems, including its manufacturing assets for a cash payment of $2,000,000, and the assumption of up to $1,100,000 in debt. The debt being assumed by Aero in the transaction includes lines of credit used by Jones Exhaust for operating capital.
“The Form 8-K, which includes the definitive agreement as an exhibit, provides additional details regarding the purchase of Jones Exhaust Systems,” commented Bryan Hunsaker, CEO of Aero Performance Products. “We are working hard to clean up the balance sheet of Aero in preparation for the acquisition, and believe that both will be extremely beneficial for the shareholders. We are excited about the acquisition and the benefits it will provide to our customers, and also intend to follow this filing with additional information on the investment banking firm that we have retained to assist with this acquisition.”
Aero Performance Products paid an initial $25,000 upon the execution of the definitive agreement, leaving a balance of $1,975,000 due to complete the purchase.
The combined revenues of Aero Exhaust and Jones Exhaust Systems are projected to approach $10 million.
To sign up to receive information by email directly from Aero Performance Products whenever new press releases, investor newsletters, SEC filings, and other written material are issued, please visit http://www.aeroperformanceproducts.com.
About Jones Exhaust Systems
Jones Exhaust Systems, founded in 1968, is one of the largest manufacturers of chrome exhaust tips and glasspack mufflers, and performance diesel systems in the U.S. The company offers many unique products available nowhere else in the industry, including the “Full Boar” V-Power performance muffler, which is the only muffler that utilizes flow deflector technology that is 100% reversible, the “Silver Vein” and “Black Vein” series of textured powder coated tips, and its “Midnight Pearl” dark shaded chrome tips. Jones Exhaust Systems also offers an extensive line of polished 304 stainless steel exhaust tips. In 2001, Jones Exhaust Systems, Inc. acquired Road Industries, Inc., a leading manufacturer of truck accessories. Road Industries, Inc. is recognized as the premier supplier of bed rails to the accessory market. In addition to bed rails, the company also produces utility racks. Full Boar Performance was acquired in 2003 to enhance Jones Exhaust Systems’ position as a leader in both aftermarket exhaust and the performance exhaust industry. This acquisition doubled the facilities, and the company now manufactures an expanded line of specialty and performance exhaust products in 45,000 square feet of facilities with 70 employees.
About Aero Performance Products, Inc.
Aero Performance Products, Inc. (www.aeroperformanceproducts.com) owns controlling interest in Aero Exhaust, Inc., a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Aero’s product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Racing legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust’s products, race team and motorsports ventures can be found on its corporate website, www.aeroexhaust.com.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company’s report on Form 10-K for fiscal year 2007 filed with the Securities and Exchange Commission.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
