BOCA RATON, Fla., Oct. 24, 2007 (PRIME NEWSWIRE) -- Q.E.P. Co., Inc. (Nasdaq:QEPC) (the "Company" or "QEP") announced that, effective today, its Roberts(r) and Smoothedge(r) carpet tools and accessories previously sold to distributors through the Company's Roberts U.K. Limited subsidiary are now being distributed in Great Britain and Ireland by Estillon B.V. This new alliance is a natural extension of a similar strategic relationship established between Roberts and Estillon throughout continental Europe last year.
Estillon was established over 40 years ago and has developed into one of the largest suppliers of carpet underlay in Europe with customers in all corners of the world. With the addition of the Roberts(r) and Smoothedge(r) products to Estillon's existing Egalsoft(r) and BestBase(r) product line, Estillon has positioned itself as a premier global supplier of branded underlay and carpet installation products.
Lewis Gould, QEP's Chairman and Chief Executive Officer, stated: "The current expansion of last year's alliance with Estillon will enhance the presence of our Roberts(r) and Smoothedge(r) products throughout Great Britain, Ireland and continental Europe, improve service to those customers, and add to the efficiency of the Company's worldwide operations."
QEP continues to distribute its carpet tools and accessories to home improvement retailers, as well as a full line of tile tools and accessories to both home improvement retailers and the professional market, in Great Britain and continental Europe through its subsidiaries in England and France.
Q.E.P. Co., Inc., founded in 1979, is a leading worldwide manufacturer, marketer and distributor of a broad line of flooring tools and accessories for the home improvement market. Under brand names including QEP(r), ROBERTS(r), Smoothedge(r), Vitrex(r), PRCI(r), Capitol(r) and Elastiment(tm), the Company markets over 3,000 specialty tools and flooring related products used primarily for surface preparation and installation of ceramic tile, carpet, vinyl and wood flooring. The Company sells its products to home improvement retail centers and specialty distribution outlets in 50 states and around the world.
Certain statements in this press release, including statements relating to market opportunities and improved services to our customers in Great Britain, Ireland and continental Europe, and the increased efficiencies of our worldwide operations, are forward-looking statements, which are made pursuant to the safe-harbor provisions of the Securities Litigation Reform Act of 1995. The forward-looking statements are made only as of the date of this press release and are subject to risks and uncertainties which could cause actual results to differ materially from those discussed in the forward-looking statements and from historical results of operations. Among the risks and uncertainties that could cause such a difference are our assumptions relating to the expected growth in sales of our products, the continued success of our manufacturing processes, continued increases in the cost of raw materials and finished goods, improvements in productivity and cost reductions, the continued success of initiatives with certain of our customers, the success of our price increase initiatives, the actions of our distributors and other thirds parties on whom we rely, the success of our sales and marketing efforts, and other business and economic factors. A more detailed discussion of risks attendant to the forward-looking statements included in this press release are set forth in the "Forward-Looking Statements" section of our Annual Report on Form 10-K for the year ended February 28, 2007, filed with the SEC, and in other reports filed with the SEC.