Universal Automotive Industries (NASDAQ:UVSL)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Universal Automotive Industries Charts. Click Here for more Universal Automotive Industries Charts.](/p.php?pid=staticchart&s=N%5EUVSL&p=8&t=15)
Universal Automotive Reports Independent Testing of New Friction
Compound Reflects an 85% Reduction in Brake Dust
ALSIP, Ill., Feb. 7 /PRNewswire-FirstCall/ -- Universal Automotive Industries,
Inc. (NASDAQ:UVSL), one of the fastest growing manufacturer/distributors of
brake parts for the $2.3 billion U.S. automotive brake part aftermarket, is
pleased to announce that test results for its new friction compound code, named
Kev11X, demonstrated an 85% reduction in dust generation versus original
equipment disc brake pads. The testing was performed by Link Testing
Laboratories. Based in Detroit, Michigan, Link is one of the largest
independent brake material testing laboratories in the world. Universal's new
friction compound code, Kev11X, has been designed to specifically address
dusting problems on European sport and luxury vehicles.
Arvin Scott, President and CEO, said, "The test results were far better then we
expected. Our engineering team has done a fantastic job focusing on developing
a low dust, high performance disc brake pad to address the ugly, dark dust on
shiny alloy wheels. I'm certain there are hundreds of thousands, if not
millions, of consumers that are anxiously awaiting the production of a new,
revolutionary product like Kevl 1X. However, we have not completed all phases
of testing. Shortly, we will begin on-vehicle performance testing. I expect the
next phase of testing to be completed over the next 120 days and look forward
to sharing those follow-on results, as well."
About Universal Automotive Industries, Inc.
Universal Automotive Industries distributes and manufactures brake rotors and
other brake parts, under its trademarks UBP -- Universal Brake Parts, Evolution
and Ultimate in the United States and Canada and its proprietary Autospecialty,
ValuMaxx and PowerStop brands. The Company also provides TRW-branded brake
rotors and drums and suspension products.
This news release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934 as amended, which are intended to be
covered by safe harbors created thereby. Such forward-looking statements,
including the risks referenced in the Company's filings with the Securities &
Exchange Commission, and other factors may cause the actual results,
performance or achievements of the Company to be materially different from
those expected by the Company. The Company is also subject to the risks and
costs associated with the further development and testing of Kevl 1X, its
commercialization, acceptance by consumers and risks of competitive solutions
even if the product can be successfully commercialized.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group, LLC
Investor Relations
Kerri Carothers, Account Executive
407-585-1080 or via email at
DATASOURCE: Universal Automotive Industries, Inc.
CONTACT: Investor Relations - Kerri Carothers, Account Executive of
Elite Financial Communications Group, LLC, +1-407-585-1080, , for
Universal Automotive Industries, Inc.
Web site: http://www.autospecialty.com/