Embargo Until: October 31, 2006
STAR EnviroTech Acquires K-Line Industries EVAP Diagnostics Leak Detection Division
Acquisition includes all existing distribution agreements and relevant patents
Las Vegas (October 31, 2006) - STAR EnviroTech (STAR) announced today it has acquired the EVAP Diagnostic Leak Detection Division of K-Line Industries, including the EVAP Smoke Diagnostics Technology, Ultrasonic Leak Detection Technology, Fuel Cap Adapter Division and all existing contracts, research, and four related patents.
"This acquisition further enhances our EVAP expertise," said Jim Saffie, STAR EnviroTech President & CEO. "This allows us to merge complimenting designs and allows STAR to continue to provide our OEM and aftermarket partners and end-users the assurance that the technologies STAR licenses are always leading-edge. We are dedicated to developing and maintaining the most effective, safe, OEM-approved EVAP testing methods, for current vehicle designs and well into the future."
STAR's Diagnostic Smoke vapor technology, developed in collaboration with Ford, GM and Chrysler, is the leading OEM EVAP technology -- approved by virtually all the major automakers. Today, about 95% of OEM dealers in North America use STAR-patented technology. STAR’s technology, also the aftermarket leader, is distributed through licensing agreements with major aftermarket equipment makers and marketers.
Global Leak Detection Corp., a STAR licensee, will be manufacturing & marketing the K-Line product line under its own brand.
Terms of the acquisition were undisclosed.
K-Line Industries, Inc., established in 1958, is based in Holland Michigan. It is a privately-held tool manufacturer and a major supplier serving the automotive aftermarket, OEM service tool, industrial, and specialty machining markets.
STAR EnviroTech, based in Costa Mesa, California, develops custom Diagnostic Smoke vapor technology solutions found inside tools chosen by more leading automakers and sold by more leading tool manufacturers and distributors than any other.
For more information on STAR EnviroTech's Diagnostic Smoke Technology, visit www.StarEnviroTech.com.