The J-J Hooks Bolt & Pin configuration has presented the Company and CSS with an opportunity to disrupt and upgrade the safety of the highway construction industry with a powerful, innovative new bolt & pin barrier by implementing a rental only plan (CSS will own and control all of this new type of barrier).
All of the Smith-Midland / Easi-Set Worldwide 38 J-J Hooks licensees will have the option to establish satellite service centers throughout the United States and other countries represented by licensees. Easi-Set Worldwide is the company’s wholly-owned licensing subsidiary responsible for licensing five major innovative Smith-Midland product lines to precasters worldwide. Easi-Set Worldwide has 62 contracts currently in place with over 50 precast concrete product companies. Several precast companies hold licenses to produce two or more Easi-Set products.
Simultaneously, with the release of its Bolt & Pin Barrier, CSS is introducing its new “OneCall” customer service which will rent, deliver, install, and remove the J-J Hooks Bolt & Pin Barrier. This “OneCall” commitment, which will be available from all of the Virginia, CSS and all six Satellite Service Centers, will significantly increase the rental and service revenue profits of the company. This important expansion is the result of the continuous research and development program at the Smith-Midland group of companies. We do not just invent new products, we create the actual businesses that implement and profit from the inventions.
We, the management of the Smith-Midland group of companies, are excited about the future of the Company and our significant influence within the precast concrete products industry nationally and internationally and hope our Shareholders/Partners feel the same excitement.Sincerely,Rodney I. SmithCEO & Chairman This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
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