CDTi Signs National Distribution Agreement for DuraFit(TM)
May 14 2015 - 8:30AM
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology,
announced it has signed an agreement with a national private label
for distribution of CDTi's DuraFit™ diesel particulate filters
(DPFs). Under the agreement, DuraFit DPFs will be distributed into
the heavy and medium duty vehicle aftermarket for a period of up to
3 years. First shipments to the national private label distributor,
whose name is being withheld in accordance with the agreement, are
expected to begin in the 2nd quarter.
"This national distribution agreement signifies the growing
penetration of DuraFit technology throughout North America," stated
Chris Harris, CDTi's President and CEO. "Since launching DuraFit in
August of 2014, we have been aggressively pursuing the fast-growing
replacement filter market with a multi-channel strategy targeting
regional distribution, national distribution and fleet sales.
Through this new private label relationship, our aftermarket DPFs
will now be available to several hundred retail locations across
North America. DuraFit is an important component of our strategy to
drive near-term growth in our Heavy Duty Diesel Systems division,
and we are excited to partner with this national private label to
expand our share of the replacement market."
Designed and manufactured in North America, DuraFit DPFs are
exact-fit original equipment manufacturer (OEM) replacements that
meet or exceed OEM emissions requirements. DuraFit DPFs are
fully-supported by a growing distributor network and field
application specialists, and DuraFit DPFs distributed by the
private label will have a 1-year unlimited mileage warranty.
DuraFit DPFs address the fast-growing heavy duty aftermarket to
replace original equipment DPF units. According to market analysis
firm Power System Research, North American OEMs have produced an
average of 250,000 heavy duty on-road diesel vehicles equipped with
DPFs each year since 2007 to comply with Environmental Protection
Agency requirements. The typical 5-year OEM warranty on DPFs has
expired for many of these vehicles which are now owned by 2nd or
3rd owners. In many medium and heavy duty diesel vehicles,
the DPF is expected to be replaced 2 or 3 times during the
vehicle's lifetime. According to a 2012 industry report, the
market for medium and heavy duty vehicle after-treatment
maintenance and repair is projected to grow to $3.0 billion by
2017.
For more information on CDTi's line of DuraFit™ products, please
visit www.durafit-exhaust.com, email us at info@durafit-exhaust.com
or call us toll free at 1-800-753-3212.
About CDTi
CDTi manufactures and distributes vehicle emissions control
products that leverage its advanced materials technology. CDTi
utilizes its proprietary patented Mixed Phase Catalyst (MPC®)
technology and other related technologies to provide high-value
sustainable solutions to reduce emissions, increase energy
efficiency and lower the carbon intensity of on- and off-road
combustion engine systems. Reflecting its continued focus on
innovation, CDTi is developing and commercializing proprietary
advanced low-platinum group metal (PGM) catalysts including
synergized-PGM (SPGM™), as well as zero-PGM (ZPGM™) catalysts. CDTi
is headquartered in Oxnard, California and has operations in the
U.K., Canada, France, Japan and Sweden. For more information,
please visit www.cdti.com.
Forward-Looking Statements
Certain information contained in this press release constitutes
forward-looking statements, including any statements that are not
statements of historical fact. You can identify these
forward-looking statements by the use of the words "believes",
"expects", "anticipates", "plans", "may", "will", "would",
"intends", "estimates", and other similar expressions, whether in
the negative or affirmative. Forward-looking statements are based
on a series of expectations, assumptions, estimates and projections
which involve substantial uncertainty and risk. In this document,
the Company includes forward-looking statements regarding future
distribution of DuraFit DPFs, growing penetration of DuraFit
technology in North America, availability of CDTi's aftermarket
DPFs at several hundred retail locations across North America,
growth strategies, expansion of market share, market growth,
expected DPF replacement cycles, and anticipated benefits of
products and technologies. In general, actual results may differ
materially from those indicated by such forward-looking statements
as a result of risks and uncertainties, including, but not limited,
to (i) future disruptions or issues regarding the parties'
relationship; (ii) changing market conditions; (iii) that the
Company may not be able to (a) meet expectations or projections;
(b) decrease costs; (c) increase sales; (d) obtain adequate
funding; (e) retain or secure customers; (f) increase its customer
base; (g) protect its intellectual property; (h) successfully
evolve into an advanced materials supplier or, even if successful,
increase profitability; (i) successfully market new products; (j)
obtain product verifications or approvals; (k) attract or retain
key personnel, or (l) realize benefits from investments; (iv)
funding for and enforcement and tightening of emissions controls,
standards and regulations; (v) prices of PGM and rare earth metals;
(vi) royalty and other restrictions on sales in certain Asian
countries; (vii) supply disruptions or failures; (viii) regulatory,
marketing and competitive factors; (ix) environmental harm or
damages; and (x) other risks and uncertainties discussed or
referenced in the Company's filings with the Securities and
Exchange Commission, including its most recent Annual Report on
Form 10-K. In addition, any forward-looking statements represent
the Company's estimates only as of the date of such statements and
should not be relied upon as representing the Company's estimates
as of any subsequent date. The Company specifically disclaims any
obligation to update forward-looking statements. All
forward-looking statements in this press release are qualified in
their entirety by this cautionary statement.
CONTACT: Becky Herrick or Cathy Mattison
LHA (IR Agency)
+1 415 433 3777
bherrick@lhai.com
cmattison@lhai.com
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