Industrial Enterprises of America Acquires Hi-Tach Oil

  
    
  
  
    
      Industrial Enterprises of America, Inc. (OTC BB:IEAM), a specialty 
      automotive aftermarket supplier, today announced that the Company has 
      purchased Hi-Tach Oil, Co., Inc. for $350,000 in a combination of cash 
      and promissory notes. Hi-Tach, based in Kannapolis, North Carolina, 
      sells and markets a distinct line of high quality oil additives and 
      lubricants. As part of the purchase agreement, IEAM acquired all 
      inventory, purchase orders, marketing materials, formulae and copyrights 
      from Hi-Tach. Additional terms of the transaction were not disclosed.
    
    
      Hi-Tach’s high quality products may be found 
      in independent auto parts stores, automotive chain stores, fast lubes 
      and other retail outlets from coast to coast.
    
    
      John Mazzuto, Chief Executive Officer of Industrial Enterprises, 
      commented, “Hi-Tach Oil is a perfect 
      complement to our existing Pitt Penn and Unifide product lines, and the 
      transaction represents the purchase of another virtual marketing company 
      that can leverage our existing operations. We will package the Hi-Tach 
      products utilizing capacity at our Pitt Penn facility, thus increasing 
      utilization rates while expanding our distribution footprint. Hi-Tach’s 
      stabilizers and lubricants are known for providing superior performance 
      at reasonable prices, completely in sync with our business model.”
    
    
      To learn more Hi-Tach, visit www.hi-tach.com.
    
    
      About Industrial Enterprises of America
    
    
      Industrial Enterprises of America, Inc., headquartered in New York, NY, 
      is an automotive aftermarket supplier that specializes in the sale of 
      anti-freeze, auto fluids, charcoal fluids, and other additives and 
      chemicals. The company has distinct proprietary brands that collectively 
      serve the retail, professional and discount automotive aftermarket 
      channels.