IRVINE, Calif., March 19, 2004 (PRIMEZONE) -- Surface Tech Inc. (Pink Sheets:SFCI) announces Horsepower Speed & Marine's introduction to the marine performance marketplace. Surface Tech recently issued Horsepower Speed & Marine a letter of intent for its purchase.
Horsepower Speed & Marine will be introducing its newest development of a twin Supercharged, 1200HP Big Block Powerboat Engine at this coming week's Palm Beach Boat Show. The 19th Annual Palm Beach Boat Show -- one of the top ten boat shows in the country -- features more than $300 million worth of boats, super yachts and accessories from every major marine manufacturer worldwide, utilizing more than 1 million square feet of exhibit space on land and in water.
"This is the perfect venue to debut our new engine and supercharger marine product line. By being ahead of schedule, we are excited that we will be taking our initial orders from this show," stated Bill Steiskal, president of Horsepower Speed & Marine.
Jeremy Preston, president of Surface Tech (SFCI) stated: "We couldn't be happier with all of Horsepower Speed & Marines latest developments. These type of exciting and innovative products and experienced people are what we are looking for in bringing a true value to Surface Tech's long-term growth potential."
Horsepower Speed & Marine is currently a major distributor for Magna Charger(tm) automotive Superchargers. In addition, Horsepower Speed & Marine is now developing a new twin Supercharger for General Motors' 572 Cubic Inch marine engine. This new combination will produce 1,200 horsepower while running on 93 octane pump gas. This will have a major impact for the marine industry. The company is looking to offer a complete line of performance accessories such as high performance brakes, air intake systems, exhaust systems, custom wheels and tires. Horsepower Speed & Marine is looking to offer a complete one-stop shop for your GM cars and trucks using the Supercharger systems as the leading product line.
Surface Tech is the only company that has a patented method to resurface alloy wheels without removing them from the car. The company's licensed technicians provide low-cost solutions to high-priced problems for over 4,000 automobile dealerships, auto auctions and car rental agencies through licensed technicians in 35 states.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.