CANDIAC, QC -- (Marketwired) -- 04/24/14 -- Novacab International Inc. (OTC Pink: NVOB) (PINKSHEETS: NVOB)
Novacab announces to its shareholders that it is addressing the trucking sector in the USA and Canada with the penetration of the market of 458,000 trucks with sleeper cabs out of a fleet of 2,400,000 Class 8 trucks in the USA and Canada. This technology especially applies to 240,000 units used for refrigeration. Furthermore there are 125,000 new vehicles of Class 8 with sleeper cabins built every year in North America.
Distribution of the Novacab product line is being done through a network of distributors: there are three types of Distributors:
Stephane Bilodeau, president, adds, "We are in the process of entering into agreements with 10 Distributors in Canada and the USA. Our first US offices are preparing to open in California and Florida. In Canada, the penetration will be directed through our corporate offices in Candiac, Sorel and Sherbrooke."
In the next 6 months, 10 Distributors will be operational followed by the goal of having 25 Distributors within 2 years. Our objective is to have the Distributors retrofit existing vehicles and provide for the installation of units within the market of 125,000 Class A trucks built each year. At an average unit cost of $ 10,000.00, Novacab's revenues shall attain new heights.
This represents 4,850 units at a value of $ 10,000.00 USD per unit. For the first 12 months, $ 4,589,000.00 USD of sales for Novacab International Inc.
This technology allows for the vehicles to maintain electrical power used for heating and refrigeration without the need to operate the engines or through the use of generators. This provides for a reduction in yearly fuel consumption between 6,000 and 8,000 litres per truck as well as a reduction of C02 and other gas emissions as well as prolong the engine's useful life between 200 000 km to 300 00 km.
Currently 22 states in the USA and half of the Canadian provinces have recently passed legislation forbidding idling truck engines when stopped anywhere especially at truck stops.
More updates are forthcoming.
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.