ORLANDO, Fla., Dec. 18, 2009 (GLOBE NEWSWIRE) -- General Automotive Company (OTCBB:GNAU), a North American provider of aftermarket parts and advanced technology for the automotive industry, announced today that it has launched an export sales division for the purpose of expanding its distribution abroad. General Automotive has historically focused its sales and distribution efforts in the United States, but now seeks to take advantage of opportunity for international distribution of its products.
"We have launched this initiative in response to demand that we see developing for our products internationally," said Dan Valladao, President and CEO. "With this new division, we will be able to leverage our existing relationships in Europe and Asia to expand our revenue and customer base."
The Company has appointed industry veteran Scott Bruno as Director of Sales, and has brought on a full sales team for the purpose of building the export division. "We are really excited about the prospects for growth within this division," said Mr. Valladao. "The world market is now opening up for General Automotive, and we feel we are ideally positioned to take advantage of it."
About General Automotive Company
General Automotive Company ("GAC") is focused on expanding its operating growth platform through multiple and ongoing acquisitions of successful niche manufacturing companies in the automotive industry. General Automotive's wholly owned subsidiary, OE Source ("OES"), imports and sells hard-to-get auto parts from proprietary sources domestically and abroad, fulfilling critical portions of its customers' supply chain. These customers include large, multi-national distributors. OES specializes in engine management products such as O2 sensors, which is a rapidly growing and government mandated segment of the auto supply industry. General Automotive is also a partner in the GreenCell joint venture with SenCer Inc., the advanced ceramics research laboratory whose proprietary "Ultra-Temp" technology is a potential game changer in the fields of oxygen sensors and SOFC fuel cells for powering automobiles.
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.