Cycle Country Appoints Two Highly Successful Business Leaders To The Company's Board Of DirectorsMILFORD, Iowa--June 27, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), is pleased to announce the appointment of two notably successful business leaders as board members of Cycle Country. Mr. F.L. Skip Miller and Mr. Rod Simonson have recently joined the board as actively participating Directors.
From 1970 until 1998, Mr. Skip Miller was President of Armstrong Wheels. Then in 1999 from his Chief Executive Officer position, Mr. Miller consummated the company's highly lucrative buy-out from the international conglomerate GKN Wheels. The selling of Armstrong Wheels for an impressive premium price was largely based on his ability to build the company with consistent double-digit annual growth.
In 1980, Mr. Rod Simonson became a franchisee for Piccadilly Circus Pizza, Inc. by owning and operating 1 of the 5 restaurants under the company's umbrella. Shortly thereafter, Mr. Simonson purchased the parent company and became President of Piccadilly. By 1987, the company became Land Mark Products, Inc., the licensing company for Piccadilly Circus Pizza. Under his leadership, the company evolved from several sit-down pizzerias to a complete turnkey operational partner in convenience stores, malls, hotels, amusement parks and video stores. Today, there are over 800 locations primarily in convenience stores throughout 42 states in the Continental U.S. Both of these highly regarded businessmen excel in building shareholder value through top line sales growth and bottom line profitability.
Speaking about the multi-year directorship appointments on Cycle Country's board, president Ron Hickman said: "These two highly successful businessmen have already made an impact on our pro-active board and truly represent our company's intentions of moving forward with the most proven and influential people available. The duties of our board are really an active extension of our corporate officer responsibilities. As such, we fully expect Skip Miller and Rod Simonson to provide a vital link to Cycle Country's next levels of development and strong company growth. We feel privileged and excited about their commitment to Cycle Country and determination to build shareholder value."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
With the Company's recent acquisitions, Cycle Country also sells premium oil filters for ATVs and motorcycles through the brand name Perf-form Products and ATV and tractor farming equipment attachments nationwide through the brand name Weekend Warrior.
For further information forward your e-mail request to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407/774-3028 from 9am until 5pm (EST). Cycle Country Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Cycle Country Accessories Corporation, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
Forward looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "would," "should" and "could."