DETROIT, MI, June 10, 2004 (PRIMEZONE) -- Ideal Accents, Inc. (OTCBB:IACE), the recently public new car accessorizer with plans for a nationwide industry roll up, said today that Karim Suleman, Executive VP, will be making presentations to investors in New York on Thursday, June 17. In addition to group meetings at 12:00 pm and 5:30 pm, there will be 1:1 meetings throughout the day.
Mr. Suleman stated, "We continue to pursue our goal of acquiring 4-5 new installation shops over the next year as a first leg in our expansion plans. We also are focused on turning the corner on profitability through increased sales generated by the acquisitions, attention to cost reduction and implementation of our mobile installation unit (MIU) strategy."
He added, "We believe our longer term growth strategy is well conceived, in a business niche that is responsive to the desires of many new car buyers to customize their vehicles with reasonably priced styling accessories plus safety, information and entertainment systems. We will continue to make a concentrated effort to bring the Ideal story to the attention of investors."
Investors interested in meeting with the company should contact: Ken Donenfeld of DGI Investor Relations at 212-425-5700 or direct an email to DonFGroup@aol.com.
About Ideal Accents
Ideal Accents, Inc. (OTCBB:IACE), headquartered in Detroit, MI, is a leading installer and wholesaler of accessories for 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. The company and its subsidiaries have over 100 employees at facilities including its new Mobile Installation Units (MIU's) in Metro Detroit, where it serves approximately 78% of the market, Lansing, Michigan and Toronto, Canada, where it serves 40% of the market.
Working directly with and compensated by auto dealers in each area, Ideal installs products that speak to the automotive-related styling and functional needs of customers. These products include sunroofs, leather seats, wheels, keyless entry, GPS navigation systems, TVs, DVDs, 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 steady average annual growth rate of approximately 7.5%. Ideal's goal is to exceed this growth rate by expanding nationally through the opening or acquisition of up to 100 shops coast to coast.
Additional information about the company can be found on its Web site at www.idealaccents.com, including the company's filings with the SEC.
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.