DETROIT, March 17, 2004 (PRIMEZONE) -- Ideal Accents, Inc (OTCBB:IACE), announced today that chairman and CEO Joe O'Connor has received the 2003 SEMA PRO "Restyler of the Year" Award, reflecting the contributions made by Ideal and Mr. O'Connor to enhance the stature and growth of the auto restyling industry.
Ideal, which recently became a publicly traded company, is the largest auto accessorizer at the new dealer level in Detroit, with 4 shops serving approximately 78% of the market, and in Toronto, with 1 shop serving 40% of the market. The Company opened its sixth shop last week in Lansing, Michigan and its goal is to expand nationally through the acquisition of up to 100 shops coast to coast. This year the company expects to add up to five new shops allowing them to grow significantly faster than the industry's average 7.5% annual growth rate.
Mr. O'Connor, who has received numerous awards over the years from industry associations as well as Detroit area community organizations, stated, "I'm very gratified not only on behalf of Ideal's management and its employees, but also, on behalf of Ideal Accents shareholders who now have a stake in our expanding public company. A commitment to superior quality products, superior installation, superior turnaround time, competitive pricing, and an active involvement in our communities will continue to be key elements of Ideal's corporate philosophy."
Ideal received the award from the PRO (Professional Restyler Organization) Council at the SEMA (Specialty Equipment Market Association) Spring Expo held March 5-6 in Indianapolis, Indiana. The award was sponsored by American Sunroof Inalfa, the world's second largest aftermarket sunroof manufacturer.
The Restyler of the Year award was established in the early '90s to honor the Company which best demonstrated its ability to enhance the stature and growth of the restyling industry within its community through creativity, dignity, integrity, industriousness professionalism and accomplishments.
SEMA members make, buy, sell, use and install specialty parts and accessories on vehicles to make them more attractive, more unique, more convenient, more functional, more fun and safer. The trade association consists of a diverse group of manufacturers, distributors, retailers, publishing companies, auto restorers, street rod builders, restylers, car clubs, race teams and more.
About Ideal Accents
Ideal Accents, Inc. (OTCBB:IACE), headquartered in Detroit, MI, is in the business of accessorizing cars and trucks at the new vehicle dealer level. An ISO 9001 certified company, Ideal is licensed by leading tier one suppliers to Original Equipment Manufacturers ("OEMs") like GM, Ford and Toyota to sell and install their accessory products on vehicles in the aftermarket. Ideal has six installation shops, with four servicing the Metro Detroit area, and one each servicing Lansing, Michigan and Toronto, Canada. The company and its subsidiaries have over 100 employees.
Working directly with and compensated by auto dealers in each area, Ideal installs products that speak to the automotive-related styling and functional needs of customers. These products include sunroofs, leather seats, wheels, keyless entry, GPS navigation systems, TV's, DVD's, CD changers, truck accessories and performance enhancement parts. According to SEMA, a leading market research company in the auto industry, the multi-billion dollar auto accessory business enjoys a steady average annual growth rate of approximately 7.5%.
Additional information about the company can be found on its Web site at www.idealaccents.com, including the company's filings with the SEC.
Safe Harbor
Information in this news release or on the website may contain statements about future expectations, plans, prospects or performance of Ideal Accents, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Ideal cautions you that any forward-looking information provided by or on behalf of Ideal is not a guarantee of future performance. None of the information on the website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in the website. Ideal Accents, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Ideal's control, in addition to those discussed in Ideal's press releases, public filings, and statements by Ideal's management, including, but not limited to, Ideal's estimate of the sufficiency of its existing capital resources, Ideal's ability to raise additional capital to fund future operations, Ideal's ability to refinance or repay its existing indebtedness. All such forward-looking statements are current only as of the date on which such statements were made. Ideal does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.