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News Releases
Salton, Inc. (NYSE: SFP) announced today the latest entry in its category of George Foreman® grills: SALTON LAUNCHES NEW GEORGE FOREMAN THE NEXT GRILLERATION™ GRILL LAKE FOREST, IL (August 18, 2004) - Salton, Inc. (NYSE: SFP) announced today the latest entry in its category of George Foreman® grills: George Foreman The Next Grilleration™. The Next Grilleration, with removable grilling plates, makes cleaning as easy as cooking and it still provides the consumer the healthy grilling alternative they have come to expect with George Foreman Grills. The product is expected to be shipped to retailers by the end of August and be in stores before the end of September. "Based on strong early demand from our retailers, we believe this new line of George Foreman grills will help accelerate the replacement cycle in the North American market," said Leonhard Dreimann, Salton’s Chief Executive Officer. "We have been hearing from our customers that a Foreman grill with removable plates for easy cleaning is quite desirable. We believe this enhancement will create new excitement around the entire product line." The Foreman Grill might just be the best selling small appliance in modern history. Salton believes the Next Grilleration will write a new chapter in a business success story that spans almost ten years. It offers an extension of the popular and utilitarian features of its predecessor, The George Foreman Lean Mean Fat Reducing Grilling Machine, plus a few additions. These additions include easy-to-clean, removable grill plates with an exclusive non-stick coating, an updated, contemporary design, 100 square inches of cooking surface, an oversized LED readout, variable temperature control and a timer. The George Foreman Grill was introduced in 1995 and grew from sales of over one million units annually in 1997 to over 10 million units in both 2001 and 2002. It reached the 50 million unit mark in mid-year 2003 in the U.S. market. The George Foreman Grill was the #1 selling housewares item in the United Kingdom in 2002, the first full year of its retail debut. George Foreman is now an international brand. George Foreman Grills and other products are now sold in many countries around the world, including France, Germany, Australia, South Africa, Brazil, Mexico and India. There are more than 100 different models of grills in the global marketplace today with more on the way. George Foreman The Next Grilleration will be available in September at retail stores across the country, including Target, JC Penney, Sears, Macy’s, QVC, May Department Stores, Linens & Things, and Bed Bath and Beyond. It will be available in other retail outlets in time for the holiday season. The Next Grilleration has a Manufacturers Suggested Promotional Price of $99.99. For more information about the new grill visit www.esalton.com or call Amber Overby for interview opportunities at (813) 961-8388. Salton, Inc. is a leading designer, marketer and distributor of branded, high-quality small appliances, home decor and personal care products. Our product mix includes a broad range of small kitchen and home appliances, tabletop products, time products, lighting products, picture frames and personal care and wellness products. We sell our products under our portfolio of well recognized brand names such as Salton®, George Foreman®, Westinghouse(TM), Toastmaster®, Melitta®, Russell Hobbs®, Farberware®, Ingraham® and Stiffel®. The Company believes its strong market position results from well-known brand names, high quality and innovative products, strong relationships with its customer base and a focused outsourcing strategy. Certain matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These factors include: Salton Inc.’s substantial indebtedness and restrictive covenants in Salton’s debt instruments; Salton’s relationship and contractual arrangements with key customers, suppliers and licensors; pending legal proceedings; cancellation or reduction of orders; the timely development, introduction and customer acceptance of Salton’s products; dependence on foreign suppliers and supply and manufacturing constraints; competitive products and pricing; economic conditions and the retail environment; the availability and success of future acquisitions; international business activities; the risks related to intellectual property rights; the risks relating to regulatory matters and other risks and uncertainties detailed from time to time in Salton’s Securities and Exchange Commission Filings.
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