For Immediate Release – Nov 22, 2006
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) would like to update shareholders on sales and marketing activities at its wholly owned subsidiary Spectra Products Inc. The Company’s strategic focus targeting vertical markets such as municipal fleets, waste management and redi-mix continues to generate increased revenue.
Sales revenue for the Brake Inspector® in-cab air brake diagnostic system are up 65% for the first six months of 2006 compared with the same period in 2005. This sales increase has resulted from growth in the municipal fleet segment as several new fleets commenced equipping their vehicles with Brake Inspector® . In addition, sales increased through existing fleets in the waste management and redi-mix segments. Sales revenue of the Termin-8rTM line of anti-corrosion and extreme pressure lubricants are up 37% for the first six months of 2006 as direct fleet sales and distributor purchases continue to grow.
The Commercial Vehicle Safety Alliance (CVSA) is sponsoring a commercial vehicle brake safety symposium in early December. This symposium will bring together carriers, fleet managers, law enforcement, crash investigators, regulators and vehicle and component manufacturers to develop strategies on commercial vehicle brake-related issues. Among the issues to be discussed is the 2006 Large Truck Crash Causation Study that indicated that brakes were a factor in 29.4 percent of all the crashes investigated.
During the recent Operation Air Brake roadside inspections conducted in Canada and the United States brake defects were found to be the leading cause of vehicles being put out of service, accounting for 69 percent of major defects. Brake adjustment issues continue to dominate brake problems, accounting for 56 percent of total brake defects that resulted in vehicles being put out of service (source Operation Air Brake Statistics - May 2006).
Spectra is poised to capitalize on the number one safety and maintenance problem in the North American trucking industry, that being brake adjustment. To meet the anticipated demand for its products, Spectra is seeking to expand its market access and is currently in discussions with a number of established, potential distributors to represent its products in both Canada and the United States.
Spectra Products Inc. is the Toronto-based North American designer, manufacturer and distributor of Brake Safe®, the visual brake stroke indicating system and Brake Inspector®, the company’s electronic in-cab air brake diagnostic system. Spectra’s products are gaining increasing recognition and acceptance as demands for enhanced brake safety increase among regulatory authorities and the motoring public.
Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the Company’s customers. Actual results and developments may therefore differ materially from those described in this release.
On behalf of the Board of Directors,
Andrew J. Malion, Chairman, Spectra Inc. www.spectra-ssa.com
Investor Relations: 1-800-308-5255 E-Mail: ssa@spectra-ssa.com
The TSX VENTURE Exchange has neither approved nor disapproved the information contained herein |
