Audiovox Secures License for Energizer Brand Rechargeable Power Packs and other Power Products in Central and South America
Posted on March 20, 2008
Filed Under Gadgets Accessories
HAUPPAUGE, N.Y., March 19 /PRNewswire-FirstCall/ — Audiovox
Corporation (Nasdaq: VOXX) announced today that its wholly-owned subsidiary
Audiovox Accessories Corporation (AAC), has entered into a trademark
licensing agreement with Eveready Battery Company, Inc., owner of the
Energizer brand.
Under the terms of the agreement, Audiovox has acquired the licensing
rights to market and distribute Energizer-branded products throughout
Mexico, Central America, the Caribbean and South America, excluding select
locations (Argentina, Bolivia, Uruguay, Paraguay and Chile). This licensing
agreement includes rechargeable power packs and other power related
accessories.
Pat Lavelle, President and CEO of Audiovox Corporation stated, “When we
acquired Technuity in late 2007, it was our goal to integrate the powerful
Energizer brand in our core accessory businesses and use it to expand our
international distribution. Today’s announcement takes us in that direction
as we add Mexico, the Caribbean, Central and most of South America to the
distribution network for our power products. We are confident that our
global initiatives will positively impact both our top and bottom-line
performance, enhance our customer offerings globally and maximize value for
our shareholders.”
David Geise, President of Audiovox Accessories Corporation stated, “The
Energizer brand is an integral part of our accessories group and combined
with RCA, Acoustic Research, Jensen and Terk gives us one of the strongest
brand portfolios in the accessory business. I look forward to using the
Energizer brand to build upon our market leading positions and to growing
our business with the retail leaders in the Latin American countries
covered by the agreement.”
In November 2007, Audiovox acquired Technuity, Inc., an emerging leader
in the battery and power products industry and the licensee of the
Energizer brand in North America. In that transaction, Audiovox acquired
the rights to market Energizer-branded products for rechargeable batteries
and battery packs for camcorders, cordless phones, digital cameras and DVD
players, as well as for power supply systems, automatic voltage regulators
and surge protectors.
About Audiovox
Audiovox Corporation is a leading international supplier and value
added service provider in the consumer electronics accessory industry. The
Company conducts its business through subsidiaries and markets mobile and
consumer electronics and consumer electronics accessories products both
domestically and internationally under several of its own brands. It also
functions as an OEM (Original Equipment Manufacturer) supplier to a wide
variety of customers, through several distinct distribution channels. For
additional information, please visit Audiovox on the Web at
http://www.audiovox.com.
Safe Harbor Language
Except for historical information contained herein, statements made in
this release that would constitute forward-looking statements may involve
certain risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the Company
assumes no responsibility to update any such forward-looking statements.
The following factors, among others, may cause actual results to differ
materially from the results suggested in the forward-looking statements.
The factors include, but are not limited to, risks that may result from
changes in the Company’s business operations; our ability to keep pace with
technological advances; significant competition in the mobile and consumer
electronics businesses; our relationships with key suppliers and customers;
quality and consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price and
product competition; new product introductions; the possibility that the
review of our prior filings by the SEC may result in changes to our
financial statements; and the possibility that stockholders or regulatory
authorities may initiate proceedings against Audiovox and/or our officers
and directors as a result of any restatements. Risk factors associated with
our business, including some of the facts set forth herein, are detailed in
the Company’s Form 10-K for the fiscal year ended February 28, 2007.
Company Contacts
Glenn Wiener
GW Communications for Audiovox
Tel: 212-786-6011 or Email: gwiener@GWCco.com
SOURCE Audiovox Corporation
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