DALLAS, May 21, 2012 /PRNewswire/ -- U.S. Home Systems,
Inc. (NasdaqNGM: USHS) today announced that it has entered the
Canadian market, contracting with an established retailer to
deliver kitchen and bath refacing products to Canadian Tire
customers in Canada under the
business name Canadian Tire Home
Services™.
To facilitate the expansion, U.S. Home Systems formed a new
Canadian subsidiary, Canadian Home Systems, Ltd. (CHS), which has
entered into a three year Services Agreement with Canadian Tire
Financial Services Limited (CTFS), a wholly owned subsidiary of
Canadian Tire Corporation, Limited (TSX-CTC.a) (Tsx:CTC).
Murray Gross, Chairman and Chief
Executive Officer, commented "This expansion represents another
major step in the execution of our growth strategy. The
strength of the Canadian Tire brand in Canada is truly unique with instant
recognition by Canadian shoppers. Canadian Tire has product
offerings in automotive, living, fixing, playing, apparel and
financial services. We believe that more than 90% of Canadians live
within 15 minutes of one of Canadian Tire's 488 stores. We have
strong expectations that the introduction of our kitchen and bath
products and services will be well received by customers in
Canada and we look forward to a
long and mutually rewarding relationship with CTFS."
The rollout of the program to Canadian Tire customers will
commence in early July 2012 with the
initial phase in the Greater Toronto
Area. To facilitate the expansion of U.S. Home Systems into
the Greater Toronto Area market,
CHS will initially open two sales and installation centers, one of
which will also serve as its Canadian corporate administrative
office. CHS and CTFS will expand the program throughout the
Province of Ontario by
December 31, 2012. If both CHS and
CTFS agree that the initial phase is successful, the program will
be fully implemented in the provinces of Ontario, British
Columbia, Alberta,
Manitoba and Quebec.
Management anticipates the roll out will be completed by
December 2014.
USHS announced that the major terms of the agreement between CHS
and CTFS included an exclusive arrangement between the parties in
Canada under the business name
Canadian Tire Home Services. Subject to certain conditions, the
agreement can automatically be extended for successive two year
terms.
Mr. Gross continued "Our Canadian operations will be similar to
our current U.S. business activities in that our personnel will
follow up leads generated by Canadian Tire Home Services or us with
in-house visits with prospective Canadian Tire customers for our
products. We will provide the products, labor and installation
services necessary to complete customer orders and we will be
required to make necessary repairs to address customer complaints
or warranty claims."
About Canadian Tire Corporation, Limited
Canadian Tire Corporation, Limited (TSX-CTC.a) (TSX:CTC) is one
of Canada's most-shopped general
retailers and the country's largest sporting goods retailer, with
more than 1700 retail and gasoline outlets from coast-to-coast. Its
primary retail business categories – Automotive, Living, Fixing,
Sports, Playing and Apparel – are supported and strengthened by its
Financial Services division, which offers such products and
services as Canadian Tire Home Services, credit cards, retail
deposits, in-store financing, product warranties, and insurance.
Nearly 68,000 people are employees across the Canadian Tire
enterprise, which was founded in 1922 and remains one of
Canada's most recognized and
trusted brands.
About U.S. Home Systems, Inc.
U.S. Home Systems, Inc. (www.ushomesystems.com) manufactures or
procures, designs, sells and installs custom quality specialty home
improvement products. The Company's product lines include kitchen
cabinet refacing products utilized in kitchen remodeling, bathroom
tub liners and wall surround products utilized in bathroom
remodeling, and storage organization systems for closets and
garages. The Company manufactures its own cabinet refacing products
and bathroom cabinetry.
This press release contains certain statements that may
include "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact included herein are
"forward-looking statements" including statements regarding the
Company's business strategy, plans and objective and statements of
non-historical information. These forward looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with and available from the Securities and
Exchange Commission. All forward-looking statements attributable to
the Company or persons acting on its behalf are expressly qualified
in their entirety by these factors. Other than as required under
the securities laws, the Company does not assume a duty to update
these forward-looking statements.
Contacts:
Murray H.
Gross
Brett Maas
Chairman &
CEO Hayden
IR
Email:
mgross@ushomesystems.com Email:
brett@haydenir.com
(214)
488-6300 (646)
536-7331
SOURCE U.S. Home Systems, Inc.