59 Vetteman: Why did Pennzoil want to be associated with Quaker State? Let me try to answer that question by starting with a little history.
From 1965 to 1985, Quaker State was the number one selling oil in America. In 1985 Pennzoil took that position away from Quaker State and has maintained it to this date. Since that time the market share ratings have been Pennzoil, Quaker State, Valvoline, and a toss up between Castrol and Havoline. So we eliminated our number one competitor and now we have the number one and two market share rating. Made the shareholders very happy.
Now since becoming the Pennzoil-Quaker State Company, we have become one of the leading automotive aftermarket consumer care products companies in the country. Let me give you a list of the companies we now own. I believe you will know most of them.
1. Gumout: One of the leading fuel additives in the country.
2. Medo Air Freshners: #1 market share in this catagory.
3. Axius Products: Makes sun protectors, window tint film, steering wheel covers, auto organizers and winter windshield covers. 95% market share in sun protection catagory.
4. Black Magic Products: One of the leaders in the tire and wheel cleaner catagory.
5. Fix-A-Flat Products: 69% market share in this catagory.
5. The Outlaw: Fuel system cleaners and octane boosters. This is a growing brand.
6. Rain X Products: 90% market share in this catagory.
7. Slick 50: I know you don't like it, but it is number one in this catagory with over 50% market share.
8. SNAP Products: Price value brand fuel additives. 10% market share.
9. Westley's Products: Wheel and tire cleaners. 10% market share.
10. Blue Coral Products: Waxes, polishes, and protectants for vehicle, home and commerical use. 10% market share.
The bottom line is profits. This is what drives any successful company. You are either the lead dog or you eat the big dogs dust. It's that simple.