Universal Power Group Announces Distribution Agreement With Craftwell USA
Universal Power Group, Inc. (NYSE Amex: UPG), today announced an agreement to provide third-party logistics services to Craftwell USA in support of its eCraft line of specialty electronic die cutters and accessories for the craft and hobby market. UPG is a Texas-based distributor and supplier of batteries and related power accessories and a third-party logistics provider.
Craftwell’s eCraft product line represents a new generation of die-cutting machines for the craft market, with applications for various activities including scrapbooking, designing, home decorating and children’s education and activities. The eCraft product line offers users a broader array of materials that can be cut such as paper, card stock, vellum, vinyl, felt, foam and other materials, providing more usability than competing products. UPG will provide complete third-party logistics services to Craftwell, including sourcing, transportation, warehousing and fulfillment.
“We are pleased to partner with Craftwell in support of the launch of their eCraft electronic product line,” said UPG’s President and Chief Executive Officer, Ian Edmonds. “eCraft has generated significant excitement in hobby circles as well as critical acclaim. As UPG provides third-party logistics support to Craftwell, we believe new opportunities for expanding distribution will emerge and enhance the value of our relationship.”
The eCraft electronic die cutter was recently named an honoree in the prestigious Innovations Design & Engineering Award program at the 2011 Consumer Electronics Show (CES). UPG will be featuring the eCraft product line at the Las Vegas Convention Center, Center Hall, booth #15121 at CES in January.Craftwell CEO, David Tse commented: “In order to support the launch of our new eCraft product line, we wanted to partner with a company that could provide a broad range of services. We selected UPG as they are ideally suited to meet our present and future logistics needs.” About Universal Power Group, Inc. Universal Power Group, Inc. (NYSE Amex: UPG) is a leading supplier and distributor of batteries and power accessories, and a provider of supply chain and other value-added services. UPG's product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jump-starters, 12-volt accessories, and solar and security products. UPG's supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as sourcing, battery pack assembly and coordinating battery recycling efforts, as well as product development. For more information, please visit the UPG website at www.upgi.com. About Craftwell Headquartered in New York, Craftwell is emerging as a leader in providing technological innovations to the crafting and education sectors. It’s flagship product is the eCraft Electronic Cutting System, and the company is focused on delivering products that save consumers time and money, while stimulating their creative process. For more information, visit www.craftwellusa.com. Forward Looking Statements Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," and "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission. Historical financial results are not necessarily indicative of future performance.
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