Fuel Doctor Launches FD-47 in China Through Exclusive Distribution Agreement With Minimum Revenues Estimated to Exceed $30,000,000 Over 5 Years
Initial Shipment in January Marks Company's Entry Into $11.4 Billion Chinese Automotive Aftermarket Industry
(firmenpresse) - CALABASAS, CA -- (Marketwire) -- 01/09/12 -- Fuel Doctor Holdings, Inc. (the "Company") (OTCBB: FDOC), a provider of innovative automotive aftermarket solutions, today announced it has signed an exclusive distribution agreement for its power conditioner/fuel efficiency booster with Mr. Ma Song Hai and Fuel Doctor Automobile Care China Beijing Company.
Mr. Ma has established Fuel Doctor Automobile Care China for the exclusive purpose of marketing and selling Fuel Doctor products in Mainland China, Hong Kong Province, and Macao Province (the "Territory"). Winner of the Person of the Year Award Top 20 by the China Car of the Year contest, Mr. Ma is a prominent leader in the China automotive aftermarket industry. Mr. Ma is also the Director and Vice General Manager of (CHN-USA) Jieqi Automobile Care China (Beijing) Co. Ltd., through which he has sold US-based Justice Brothers' automotive care products in the China market since 1992. He captured significant market share for Justice Brothers' automotive products through a marketing network in over 30 provinces and cities.
This five-year exclusive distribution agreement ("Agreement") between the Company and Fuel Doctor Automobile Care China includes minimum annual purchase requirements totaling over 2 million units, while providing Fuel Doctor Automobile Care China with a license to use the Company's intellectual property in the Territory. Fuel Doctor Holdings has received an initial deposit towards the first years' minimum purchase requirement valued at over USD$1 million. The first order of FD-47s is scheduled to ship to China by the end of January. FD-47 is a patent-pending fuel efficiency booster that increases a vehicle's miles per gallon (MPG) by power conditioning the vehicle's electrical systems.
The current Agreement covers the FD-47 and will be expanded in the future by adding distribution rights for Fuel Doctor Holdings' growing portfolio of automotive aftermarket products. The addition of other Fuel Doctor products would increase minimum annual purchase requirements as well as the dollar value of associated sales. The Agreement may also be extended for an additional five years, for total potential estimated sales of $80 million over the entire ten year term.
"This is the beginning of what we believe will be a long-term, multi-product distribution deal for Fuel Doctor's products in China. Market demand has never been higher for fuel efficiency and environmentally friendly automotive aftermarket products. China's growing middle class has led to an explosion of car owners who are looking to get the best mileage and the best enjoyment from their vehicles, while China is looking for ways to reduce greenhouse gas emissions," stated Mr. Ma Song Hai, Founder of Fuel Doctor Automobile Care China. "We have laid the groundwork in the market in terms of trademarks, marketing, and sales channels. I believe Fuel Doctor Automobile Care China will capture significant market share in one of the fastest growing automotive markets in world."
, President and Chief Executive Officer of Fuel Doctor Holdings, added, "Having just surpassed the US in new cars sales, China is a key growth market for Fuel Doctor Holdings. Mr. Ma Song Hai is a prominent figure in the country's automotive market. Having tested the Platinum FD-47 and our patent-pending technology, Mr. Ma has confidence in our product and his well-informed projections for sales in the China market are very encouraging. We are pleased to launch FD-47 in China, while we continue negotiations with potential distributors in numerous other markets throughout the globe."
According to , the automotive aftermarket in China is estimated to be a USD$11.4 billion (71 billion Chinese Yuan) market and projected to grow 18.3% annually through 2014. This market is being driven by the country's expanding and aging stock of light vehicles. The (AAIA) states that China's new car sales have recently eclipsed the sale of new cars in the US. The AAIA further estimates the number of vehicles in China will reach 70 million in 2012.
For more information regarding the Agreement, please see the Company's 8K filing with the Securities and Exchange Commission at:
Fuel Doctor Holdings, Inc. (the "Company") provides innovative solutions to the automotive aftermarket. The Company is the exclusive worldwide distributor of the , 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, and Intertek, a global leader in quality, safety, and inspection and testing of consumer goods.
During 2011, Fuel Doctor was the primary sponsor of in NASCAR's Camping World Truck Series. Fuel Doctor was also the primary sponsor in 2011 for , competing in the , and Gaunt Brothers Racing, competing in both and .
Please visit the Company at and .
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 (). 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.
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Datum: 09.01.2012 - 06:00 Uhr
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