SOURCE: Euro Group of Companies, Inc.

November 15, 2007 18:08 ET

Eurospeed, Inc. Announces Over One-Half Million Dollars of Confirmed Orders and a New Eurospeed Division Vice President

PORT CHESTER, NY--(Marketwire - November 15, 2007) - Eurospeed, Inc., a division of Euro Group of Companies, Inc. (PINKSHEETS: EGCO), announces over one-half million dollars of confirmed purchase orders of motorcycles, gas-powered scooters, ATVs, and UTVs for immediate delivery, and the recent appointment of Gary J. DeFilippo, the Former Commissioner of the State of Connecticut Department of Motor Vehicles, to head-up Eurospeed as its Vice-President.

One-half million in orders will begin being delivered will to Eurospeed Franchised Dealers who currently run new automobile franchise operations located in states stretching from Connecticut to Oregon and as far south as Virginia.

Euro Group continues to execute its growth strategy of distributing high quality products at attractive prices through distributors and dealers with established histories of great customer service and technical support to provide Eurospeed owners an excellent shopping experience and uncompromised service. Eurospeed's distributor has recently begun signing franchisees and will continue to increase its efforts to gain presence on new automobile dealer lots. Under the leadership of Gary J. DeFilippo, Eurospeed has been working closely with its distributor to sign franchisees.

Mr. DeFilippo, a recent addition to Euro Group's executive management, has over 25 years of private and government management experience, and brings with him a wealth of relations that Euro Group can capitalize upon.

Eurospeed, Inc., Euro Group's transportation division, distributes motorcycles, scooters, ATVs, and UTVs, under the Eurospeed brand name to its franchised dealer network. Eurospeed benefits from the recent trend of higher gas prices, high automobile insurance premiums, and unaffordable car payments.

Euro Group consists of three divisions that distribute Transportation vehicles under the Eurospeed brand, Communications products and services under the Europhone and Eugro Mobile brands, and Consumer Electronics and Durable Appliances under the Eurokool brand. The company has recently engaged several executives to accelerate the implementation of its growth strategy, and pursued financing of its product distribution.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: From time to time, information provided by the Euro Group (including but not limited to this release), statements made by its employees or information included in its filing with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking" statements with in the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended which are intended to be covered by the safe harbors created thereby. With respect to such forward-looking statements, Euro Group claims protection under the Private Securities Litigation Reform Act of 1995. The Company's results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product, and technology developments, and other risk factors detailed from time to time in the Company's Securities and Exchange Commission reports including, without limitation, its Form 10-KSB and Forms 10-QSB.

Contact Information

  • Contact:
    Euro Group of Companies, Inc.
    Media Relations
    Glenn M Russo
    Director of Financial Strategies
    181 Westchester Avenue
    Port Chester, New York 10573
    Email Contact
    914-937-3900 x16
    Fax 914-937-4100