Cross Lander USA Acquires Romania's Aro 4x4 Manufacturing Facility; New Off-Road Vehicle to Arrive In U.S. In Early 2004MIAMI--Sept. 26, 2003--Cross Lander USA announced today that it has completed the purchase of Romania's Aro 4x4 vehicle manufacturing facility that is located 60 miles north of Bucharest. With the plant now under the operational control of Cross Lander, the company expects to begin immediate production of its new sport recreation vehicle (SRV) that will be introduced to the U.S. in March 2004.
Acquisition of the 8.5 million square foot facility completes the Romanian government's efforts to privatize its auto industry. Cross Lander has committed to an investment of $12 million during the next several years to enhance the production capabilities at the facility.
Cross Lander USA chairman and CEO John Perez said the agreement concludes a nine-year effort to solidify Cross Lander's commitment to the Romanian government, plant management, and the 2,200 employees working at the plant.
"We firmly believe all parties will benefit greatly from this team effort," added Perez, a thirty-year veteran of the automotive industry.
Perez said the first year of production will reach 10,000 with 6,000 four-wheel drive SRV's already sold to a U.S. dealer network that presently exceeds 90. He expects to have 150 dealers by the time the vehicles start arriving in March 2004. The remaining 4,000 vehicles will be sold in Latin America and Europe. Year two production is projected to reach 15,000 vehicles.
Cross Lander's new 4x4 SRV is designed clearly for those drivers who want to take their vehicles off-road and not worry about "keeping them pretty," Perez said. "Off-roaders, hunters, fishermen and campers will find the vehicle fits their needs in the SRV segment."
The first vehicles are expected to sell for under $20,000. Cross Lander will offer a 6-cylinder engine and high durability powertrain system. For further details on the vehicle contact the Cross Lander web site at http://www.CrossLander4x4.com.
About Cross Lander USA
Cross Lander USA is the only automotive manufacturer and distributor in the United States that is aggressively targeting the rugged, off-road sport recreation vehicle (SRV) market. Cross Lander USA is headquartered in Miami, Florida, and has offices in Campulung, Romania and Sao Paulo, Brazil. For more information please visit http://www.CrossLander4x4.com.