Minimum Estimated Product Sales of $18 Million Over 5 Years to Maintain Exclusivity in 5 Countries
CALABASAS, CA--(Marketwire - April 3, 2012) - Continuing its global roll out of the FD-47 power conditioner/fuel efficiency booster, Fuel Doctor Holdings, Inc. (the "Company") (
Per the terms of the Agreement, IMPEX Holding will purchase from Fuel Doctor nearly 1.2 million FD-47 units over the next five years for a total estimated purchase price of $18,000,000. The Agreement may be extended for an additional five years and over $56,000,000 worth of additional FD-47 sales. The companies may also expand the agreement to include the sales of other Fuel Doctor products. IMPEX Holding must meet five-year minimum purchase requirements in order to maintain its exclusive rights to use Fuel Doctor's intellectual property and to market, distribute and sell the FD-47 fuel efficiency booster throughout France, Italy, Spain, Greece and Poland. Fuel Doctor's European site, www.fueldoctoreurope.com, has already launched.
IMPEX Holding is a Thailand-based trading company with a strong network of sales managers in countries across Europe including Italy, Spain and France. Tzvika Hershko, Managing Director of IMPEX Holding, is also a partner and co-owner of A to Z Innovations, Ltd., which is the patent holder and manufacturer of the FD-47. Fuel Doctor Holdings has the exclusive worldwide rights to distribute and market the fuel-saving technology.
Tzvika Hershko, Managing Direct of IMPEX Holding, stated, "Fuel Doctor has done a tremendous job at creating a well-recognized brand in the U.S. and is now effectively growing the brand into a global consumer product. Based on the success of Fuel Doctor's branding and marketing efforts, we are very excited to gain the exclusive right to purchase FD-47s from them and to sell the product throughout our designated territories in France, Italy, Spain, Greece and Poland. We are both very prepared and excited to launch the product in our territories."
"Europe is an enormous market for us and this agreement marks the beginning of our entry into a market that comprises 22% of the world's cars. The average age of cars on the road in the European Union is 8.2 years. These aging cars can benefit from the power conditioning qualities of the FD-47," said Mark Soffa, President and Chief Executive Officer of Fuel Doctor. "Moreover, European consumers are very environmentally conscious, with demand for fuel efficient cars consistently increasing year-over-year." (Source on European market statistics: 2011 European Automobile Manufacturers Association Pocket Guide 3rd edition.)
About Fuel Doctor Holdings, Inc.
Fuel Doctor Holdings, Inc. (the "Company") provides innovative solutions to the automotive aftermarket. The Company is the exclusive worldwide distributor of the Platinum FD-47, a power conditioner/fuel efficiency booster that plugs into the lighter socket/power port closest to the engine of a vehicle 24 months and older to help drivers regain lost miles per gallon (MPG) through power conditioning of the vehicle's electrical systems. The Platinum FD-47 is sold by blue chip retailers nationwide and has undergone certified laboratory and field testing by Test Car Engineering, Ledico/Bosch, Kett Engineering, and Intertek, a global leader in quality, safety, and inspection and testing of consumer goods.
During 2011, Fuel Doctor was the primary sponsor of Turn One Racing in NASCAR's Camping World Truck Series. Fuel Doctor was also the primary sponsor in 2011 for Rusty Wallace Racing, competing in the NASCAR Nationwide Series, and Gaunt Brothers Racing, competing in both NASCAR's Canadian Tire Series and NASCAR's K&N Pro Series.
Safe Harbor Statement
All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the Company's anticipated financial position, business strategy and plans and objectives of management of the Company for future operations, are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors not limited to, general economic and business conditions, competitive factors, changes in business strategy or development plans, the ability to attract and retain qualified personnel, and changes in legal and regulatory requirements and the other risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). Such forward-looking statements reflect the current views of the Company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph. The Company does not assume a duty to update these forward-looking statements, except as required by law.
Mr. Andrew Haag
IRTH Communications, LLC
Tel: +1-866-976-IRTH (4784)
E-Mail: Email Contact
Company Website: www.FuelDoctorUSA.com