Press release from PR Newswire
Thor Announces Expansion At Bison Coach Subsidiary
Tuesday, June 03, 2014
Thor Announces Expansion At Bison Coach Subsidiary16:15 EDT Tuesday, June 03, 2014
ELKHART, Ind., June 3, 2014 /PRNewswire/ -- Thor Industries, Inc. (NYSE: THO) today announced expansion plans for its Bison Coach subsidiary with the acquisition of a 55,000 square-foot production facility located on approximately 9 acres in Milford, Indiana. In addition to the facility, the Company also agreed to purchase approximately 20 acres of additional land that can be used for future expansion as needed.
The production facility is located near Bison's current production facilities and will be used to produce Bison's equine trailers with living quarters. With Bison's recent strong growth, the Company's existing facility in Milford was not large enough to meet current demand. Bison expects to transition production to the new facility in the fiscal fourth quarter ending July 31, 2014.
"Bison's product lines represent a solid growth opportunity beyond our traditional recreational vehicle markets," said Bob Martin, Thor President and CEO. "With the solid growth Bison has achieved since their acquisition last fall, we found ourselves in a position of identifying opportunities to expand production quickly. This facility came on the market and it fit Bison's current production needs while providing the flexibility to meet future growth needs as they arise," he added.
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent one of the world's largest manufacturers of recreational vehicles.
This release includes certain statements that are "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 (the "Exchange Act"). These forward looking statements involve uncertainties and risks. There can be no assurance that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, price fluctuations, material or chassis supply restrictions, legislative and regulatory developments, the costs of compliance with increased governmental regulation, legal issues, the potential impact of increased tax burdens on our dealers and retail consumers, lower consumer confidence and the level of discretionary consumer spending, interest rate fluctuations, restrictive lending practices, recent management changes, the success of new product introductions, the pace of obtaining and producing at new production facilities, the pace of acquisitions, the integration of new acquisitions, the impact of the divestiture of the Company's bus businesses, asset impairment charges, cost structure changes, competition, general economic, market and political conditions and the other risks and uncertainties discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2013 and Part II, Item 1A of our quarterly report on Form 10-Q for the period ended January 31, 2014. We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in our expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law..
SOURCE Thor Industries, Inc.
For further information: Jeffery A. Tryka, CFA, Investor Relations (574) 970-7912, firstname.lastname@example.org