Thor Board Authorizes Purchase of Up to 500,000 Shares
16 December 1998
Thor Board Authorizes Purchase of Up to 500,000 Shares; Receives Large Bus & RV OrdersJACKSON CENTER, Ohio, Dec. 15 -- Thor Industries, Inc. announced today that its Board of Directors approved the purchase of up to 500,000 Thor shares. Thor also announced that at the national RV show in Louisville it received 55% more orders than last year and 75 new dealers. Thor Bus also recently received orders totaling $20 million from the Port Authority of New York and New Jersey, the State of Michigan, the National Park Service, and others. "We have completed the previously announced divestment of Thor West. Our record high RV and Bus backlogs and our strong financial condition (including cash on October 31, 1998 of $42.7 million) places us in the strongest position we have ever been to pursue both internal and external growth opportunities," said Wade F.B. Thompson, Thor Chairman. Thor Industries, Inc. is the largest builder of mid-size buses and the second largest manufacturer of recreation vehicles. This release includes "forward looking statements" that involve uncertainties and risks. There can be no assurance that actual results will not differ from the Company's expectations. Factors which could cause materially different results include, among others, the success of new product introductions, the pace of acquisitions and cost structure improvements, competitive and general economic conditions, and the other risks set forth in the Company's filings with the Securities and Exchange Commission.