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GT Legend Automotive Holdings Inc. Signs LOI to Acquire US Wheel Exchange

  • Press Release
  • Source: GT Legend Automotive
  • On 8:00 am EDT, Thursday April 9, 2009

FULLERTON, CA--(MARKET WIRE)--Apr 9, 2009 -- GT Legend Automotive Holdings (www.gtlegendautomotive.com), a publicly traded company under (Other OTC:GTLA.PK - News), is a Nevada Corporation which was developed to meet the growing needs of the ever changing automobile aftermarket with "Green Energy Alternatives." GT Legend Automotive, known for their wheels, ground effects, and its patented "electric drive shaft" hybrid conversion kit, has just signed a LOI to acquire US Wheel Exchange based in Detroit, MI for a stock swap and other considerations not yet formalized.

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GTLA.PK0.000.00
Chart for GT LEGEND AUTOMOTIVE
{"s" : "gtla.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}

US Wheel Exchange is one of the largest PVD chrome OEM wheel exchange companies in the Midwest. US Wheel has been in business for about three years and their customers include new car dealerships, used car lots, tire shops and other wholesale wheel and tire businesses.

GT Legend utilizes a revolutionary, environmentally friendly PVD (Physical Vapor Deposition) process to produce excellent quality chrome while meeting or exceeding all ROHS standards. It's obvious that both an environmentally friendly and health conscious alternative to today's chrome was needed. GT Legend Wheels were the first wheels to be finished in "Capella PVD Chrome" finish. This new Technology combines vacuum plating with powder coating as a very durable replacement for traditional chrome. The chrome coating is a vacuum deposition process that provides a much more uniform deposit with improved adhesion (up to six times greater than conventional acid bath chrome in some cases), a wider choice of materials that can be coated, and there are no harmful chemicals to dispose of. The PVD finish has been tested under the most stringent automotive industry standards, exceeding the requirements of traditional chrome and many painted finishes even under the harshest of weather conditions of the East Coast.

SAFE HARBOR: Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs and estimates as to projections are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the Company's judgment as of the date of this release. The Company does not undertake to update, revise or correct any forward-looking statements.

Contact:

     Parilla Investment Group
 
Tom Parilla
814-824-4326
 

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