AutoMart-China Signs LOI, Moves to Offer Mandatory Safety/Exhaust Inspections
March 13 2007 - 9:40AM
Business Wire
AutoMart-China (OTC BB: DPFD), the largest independent auto
aftermarket company in Beijing, said today that it has signed a
Letter of Intent with a Chinese government-authorized company as
its first step in being able to perform mandatory safety and
exhaust inspections at its repair and maintenance centers. AutoMart
(www.AutoMart-China.com) said the non-binding LOI is with Beijing
Wan Quan He Automotive Certificate Company (WQH), which is
authorized by Beijing�s municipal government and Ministry of
Communications to conduct annual tests for cars and motorcycles
there. WQH is also authorized to conduct motor vehicle exhaust
testing, as authorized by the State Environmental Protection
Administration of China. AutoMart, with more than 450 employees
serving the auto aftermarket in Beijing, is currently working to
finalize the agreement and add mandatory safety and exhaust
inspections to its other services, including auto repair, parts,
and insurance, said the company�s Chairman and CEO Pang Guisan.
Opportunity to Serve an Emerging Market �Annual safety and exhaust
inspections are required by the government for the more than 4
million cars and motorcycles in Beijing,� Mr. Pang said. �AutoMart
is excited about the opportunity to partner with WQH and serve this
emerging market. �AutoMart plans to work with WHQ in order to gain
access to virtually millions of owners of cars and motorcycles, and
be able to cross-market our other repair, parts and insurance
products to them,� he said. WQH, he said, was also interested in
the high quality of AutoMart�s repair centers and growing customer
base, �making this a win-win for both organizations.� About
AutoMart China AutoMart-China (Beijing Sino-US Jinche Yingang Auto
Technological Services Ltd., www.AutoMart-China.com) is the largest
independent auto aftermarket company in Beijing, and recently
entered a share exchange agreement to become 95% owned by Deep
Field Technologies, Inc. (OTC BB: DPFD). AutoMart is a full-service
automotive repair and maintenance company operating throughout
Beijing. With more than 450 employees, a typical AutoMart facility
is substantially larger than most other automotive repair
facilities, with its largest being nearly 100,000-square feet.
Along with its focus on repair and maintenance, AutoMart owns and
operates automotive insurance agencies co-located within each of
its repair facilities. This press release contains forward-looking
statements within the meaning of section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
With the exception of historical information contained herein, the
matters discussed in this press release involve risk and
uncertainties. Actual results could differ materially from those
expressed in any forward-looking statement.
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