omniture

Kington, Exclusive Licensee in China for LoJack Corporation, Launches Its Stolen Vehicle Recovery Solution

Kington Holdings, Ltd
2007-09-24 20:29 1129

BEIJING, Sept. 24 /Xinhua-PRNewswire-FirstCall/ -- Kington Holdings Ltd. ("Kington"), the exclusive licensee for LoJack Corporation ("LoJack"; Nasdaq: LOJN) in the People's Republic of China ("PRC"), announced today that it will officially launch its Stolen Vehicle Recovery ("SVR") service on 15 November 2007 in the Greater Beijing, China area.

Kington is proud to be the strong partner of LoJack in China, which represents a significant international market opportunity for LoJack, given the future economic growth in the China market. LoJack recently described Kington and its management team as a "strong local operating partner who has well developed industry relationships."

Kington's LoJack enabled SVR service will be offered initially in the Beijing, Tianjin and Hebei Provinces and then expanding into the Guangdong Province and Greater Shanghai Area in 2008-09.

China represents an enormous business opportunity for Kington. China is already the second largest new vehicle market in the world, with approximately 7.22 million in 2006 new car sales and an estimated 2007 new car sales of 8.3 vehicles.

In total, China has an estimated 31 million registered motor vehicles which are the LoJack Licensee/Kington's target market. In addition, China is experiencing a fast growing and severe vehicle theft problem. These two factors are the two most important key drivers to a successful stolen vehicle recovery business.

"During the past two years, Kington has been heavily investing in and preparing infrastructure, and technical set-ups which are now fully operative and ready to protect motor vehicles," said Michael Tang, Chief Executive of Kington. "We are confident that with our experienced team of local and International managers, the support of PRC authorities and our strategic partners that we are able to offer a very effective SVR solution to the China market," added Michael Tang.

About Kington and Other Area LoJack Licensee Operations

Kington Holdings, Ltd ("Kington") is headquartered in Beijing PRC, with a strong experienced local and an international management team that have been operating stolen vehicle recovery services ("SVR") in Asia since 1999. The same management team have been involved as the LoJack Licensee (LoJack HK) in Hong Kong since 1999.

Kington deploys the most appropriate stolen vehicle recovery technologies for cars, trucks, construction equipment, commercial vehicles and motorcycles. It uses its operational expertise to deliver effective solutions to the serious problem of motor vehicle theft. These technologies are highly covert allowing us to locate and recover stolen vehicles even when hidden within a steel container, garage, and chop shop or under dense foliage. Because of the effectiveness of its systems, Kington guarantees vehicle recovery with a 100 percent money-back promise. Kington is the exclusive licensee for LoJack Corporation and its affiliates in the PRC.

Media contact:

Ms. Jo Soo, Director

Edelman

Tel: +852-2837-4744

Fax: +852-2804-1303

Email: jo.soo@edelman.com

Source: Kington Holdings, Ltd
Keywords: Auto
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