Business Services Industry
Ocean Bio-Chem Inc. announces startup of new manufacturing facility to produce new line of straps, tie-downs and bungee cords
Business Wire, August 25, 1995
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 25, 1995--Ocean Bio-Chem Inc. today announced that it has completed the setup phase of its new manufacturing facility which will begin operating immediately to produce Star brite Straps, Tie-downs and Bungee Cords.
The venture will initially target the multi-million dollar boating accessory market and then expand to recreational vehicles.
Company President Peter Dornau reports that startup costs have been minimal and will likely be more than offset by 1995 sales of the new line. Dornau stated that although there are other companies manufacturing similar products, none have Star brite's reputation and distribution channels for the boating and recreational vehicle markets.
Dornau commented further, "Nationally, straps, tie-downs and bungee cords represent a multi-million dollar market with many segments and applications. For the Star brite market, the new line represents a terrific source of untapped sales revenue with profitable margins. Every power boat, sail boat and RV represents a potential sale to us and at last count there were over 17.5 million boats and RVs."
The company is presently listed and publicly traded as a small cap issue under NASDAQ symbol OBCI. Ocean Bio-Chem Inc. manufactures and distributes a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the trademark Star brite name. -0- Note to Editors: The foregoing is news relating to Ocean Bio-Chem Inc. For more detailed information the reader is referred to the company's 10-K filed with the Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by GeoMarketing or Ocean Bio-Chem Inc. and is meant purely for informational purposes.
CONTACT: Ocean Bio-Chem Inc.
Peter Dornau, 305/587-6280
or
GeoMarketing
James Nikas, 415/885-6813
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