Diesel TEK, Inc. Issues Letter of Intent to Acquire Van's Equipment and Repair, Inc.
Diesel TEK, Inc. provides high TEK equipment, filters and a host of liquid solutions to the heavy-duty transportation industry.
Las Vegas, NV (PRWEB) September 20, 2006 -- Diesel TEK, Inc. has issued a letter of intent to acquire Vans Equipment and Repair, Inc.
Vans, an over thirty-year-old company, serves the heavy-duty trucking industry in the greater Los Angeles area. Vans offers to its impressive list of clients complete rebuilds, custom fabrication, bodywork, paint service and a host of other services.
Morris R. Ferguson, President of Vans, stated, After careful review of the Diesel TEK business model and goals, I quickly realized the synergy between our two groups. We offer a 100,000 square foot facility, years of technical experience and a customer base of Coca Cola, 7Up, United Parcel Service and numerous leading grocery retailers that have been long-term customers."
Eric Wheeler, the CEO and President of Diesel TEK stated, We are working toward a definitive agreement to complete this acquisition in the next thirty to sixty days. Vans will become a showcase for our Diesel TEK brand equipment and accompanying fluid products and will serve as our national training facility for equipment end-users and our national sales force. We believe that this is a monumental step in the successful launch of our product line and fast tracks our growth potential tremendously."
About Diesel TEK, Inc.
Diesel TEK, Inc. provides high TEK equipment, filters and a host of liquid solutions to the heavy-duty transportation industry. This industry is under heavy pressure by federal, state and local government mandates to reduce harmful greenhouse emissions.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for DIESEL TEK Inc.: This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning expected performance characteristics, specifications, market acceptance, market growth, specific uses, user feedback and market position of Diesel TEK's products and technology are forward-looking statements within the meaning of the Safe Harbor. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: the actual price, performance and ease of use of Diesel TEK's products may not meet the price, performance and ease of use requirements of end-users; the performance of Diesel TEK's products may be adversely affected by real world expectations, environmental and operating conditions; the ability of Diesel TEK to market and sell its products and technology; the impact and pricing of competing products; and the introduction of alternative technological solutions. Further information on potential risk factors that could affect Diesel TEK and its business are detailed in the Company's current business operation plan. Diesel TEK undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Eric Wheeler
818-430-2901
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