DETROIT, Feb. 18, 2004 (PRIMEZONE) -- Ideal Accents, Inc. (OTCBB:IACE), has begun trading on the Over The Counter Bulletin Board with the symbol: IACE.
Ideal is a leading new vehicle accessorizer in North America; its installation shops service 78% and 48% of the Metro Detroit and Toronto markets respectively. Ideal plans to acquire up to 100 installation shops under the Ideal banner. The industry is highly fragmented with independent operators running from one to five installation shops. There are between 1,600 and 2,000 of these installation shops across North America. Ideal has developed an infrastructure designed to facilitate the smooth integration of acquisitions and to monitor all aspects of the installation shops on a 24/7 basis.
Ideal is licensed by leading equipment suppliers to automakers to install their products on new vehicles in the aftermarket, working directly with and compensated by auto dealers in their area. The products they install speak to the automotive-related styling and functional needs of customers. These products include sunroofs, leather seats, wheels, keyless entry, GPS navigation systems, TV's, DVD's, CD changers, truck accessories and performance enhancement parts. According to SEMA, a leading market research company in the auto industry, the multi-billion dollar auto accessory business enjoys a fairly steady average annual growth rate of approximately 7.5%.
About Ideal Accents
Ideal Accents, Inc. (OTCBB:IACE), headquartered in Detroit, MI, is in the business of accessorizing cars and trucks at the new vehicle dealer level. An ISO 9001 certified company, Ideal is licensed by leading tier one suppliers to Original Equipment Manufacturers ("OEMs") like GM, Ford and Toyota to sell and install their accessory products on vehicles in the aftermarket. Ideal has five installation shops (each operating as a wholly owned subsidiary of Ideal) with four servicing the Metro Detroit area and one the Metro Toronto area. The company and its subsidiaries have over 100 employees.
Additional information about the company can be found on its Web site at www.idealaccents.com, including the company's filings with the SEC.
For further information please contact Ideal Accents, Inc. at info@idealaccents.com or Medallion Capital Corp. @ 416-865-9790 or 1-800-295-0671 to speak to an IR Representative.
SAFE HARBOR Information in this news release or on the website may contain statements about future expectations, plans, prospects or performance of Ideal Accents, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Ideal cautions you that any forward-looking information provided by or on behalf of Ideal is not a guarantee of future performance. None of the information on the website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in the website. Ideal Accents, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Ideal's control, in addition to those discussed in Ideal's press releases, public filings, and statements by Ideal's management, including, but not limited to, Ideal's estimate of the sufficiency of its existing capital resources, Ideal's ability to raise additional capital to fund future operations, Ideal's ability to refinance or repay its existing indebtedness. All such forward-looking statements are current only as of the date on which such statements were made. Ideal does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.