ASC Industries, Inc. announced its purchase of the new water pump division of the Canadian-based Mevotech Inc., effective June 1, 2007. ASC will be responsible for all activities related to supporting the current Mevotech customer base. We wanted to assure a seamless transition for our new water pump customers and felt that ASC Industries was best suited to ensure a successful change, stated Bernard Lachance, executive vice president of Mevotech Inc. Mevotech Inc. is a distributor of front end and front wheel drive components, sold under the Mevotech brand and several leading private label brands, across Canada, the United States and Mexico. We are very excited about this newest development in expanding our market presence in Canada, added Ted Swaldo, president of ASC Industries. Further, Mevotech Inc. also announced the sale of its clutch division to Perfection Hy-Test Company, located in Timmonsville, South Carolina effective July 1st, 2007. According to the company, these moves were made so that they may increase their focus on the suspension, steering and driveline product category.