SOURCE: Euro Group of Companies, Inc.

October 21, 2008 14:11 ET

Eurospeeed, Inc. Signs Exclusive Distributors in Croatia and Romania

PORT CHESTER, NY--(Marketwire - October 21, 2008) - Eurospeed, Inc., the transportation products subsidiary of Euro Group of Companies, Inc. (PINKSHEETS: EGCO), announced today that Eurospeed has negotiated exclusive distribution agreements for the sale of Eurospeed products in Croatia and Romania. Dalmatia Motors LLC, the newly appointed distributor in Croatia, and Diaconescu Enterprises Inc., the newly appointed distributor in Romania, have each placed their first orders for Eurospeed motor scooters, and will receive the products in November.

Gary DeFilippo, Vice President and head of Eurospeed operations, said, "We are very pleased with the addition of these two high quality distributors, and we continue to interview well qualified distributor candidates for other countries in Europe, the Middle East and South America."

In the United States, Eurospeed markets its transportation products through a nationwide network of successful, well-financed automobile dealers with full showroom and service capabilities, and adds new dealers to the network every month.

Eurospeed offers a full line of fuel efficient electric and gas-powered scooters, motorcycles, ATVs (all-terrain vehicles) and utility vehicles, imported from select contract manufacturers in China, and supported by a full after-sale service and parts program.

Euro Group of Companies, headquartered in Port Chester, New York, with offices in Shanghai, China, and Athens, Greece, is an operating company focused on three distinct and separate businesses -- communications products, transportation products and consumer electronics and appliances -- that management believes offer unusual opportunities for revenue and profit growth.

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 filings with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking" statements within 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 limitations, its Form 10-KSB and Forms 10-QSB.

Contact Information

  • Contact:
    Gary DeFilippo
    Vice President
    Phone: 914-937-3900
    Fax: 914-937-4100