American Terra Vehicles Leases Facilities for Corporate Offices
27 May 1999
American Terra Vehicles Leases Facilities for Corporate Offices, Production State-of-the-art Complex Central to Company's Growth
EL PASO, Tex.--May 26, 1999--American Terra Vehicle Corp. (trading symbol: ATVX) announced today the signing of a long-term lease for an industrial complex, which will house the Company's production facility and corporate offices. American Terra Vehicles will immediately use the facility to manufacture its series of motor scooters; the first product line based on their innovative, alternative fuel and gasoline 4-cycle engines. With assembly in the El Paso, Texas facility, American Terra Vehicles will be uniquely positioned as the sole domestic manufacturer of motor scooters.American Terra Vehicles will lease the complex for three years under a transaction brokered by Coldwell Banker. The American Terra Vehicles industrial center is currently undergoing renovations and is slated for occupancy by the beginning of July. The 29,000 square foot facility will enable American Terra Vehicles to quickly ramp up production utilizing the Company's streamlined and integrated manufacturing system.
"We are creating a state-of-the-art facility that will provide the epicenter for American Terra Vehicles growth in the next few years," said Ron J. Bolden, president of American Terra Vehicles. "The sizable facility here in El Paso, our hometown, will provide the capacity to domestically produce a diverse line of products, starting with our recreational motor scooter series. The Company recently went public and continues to evolve rapidly. The lease signing is just the latest growth phase for American Terra Vehicles."
On April 29th, American Terra Vehicles completed a reverse merger in which it became publicly traded for the first time under the symbol "ATVX". The company is traded over-the-counter and there are currently three market makers: J. Alexander Securities, Global Financial Group, Inc., and National Securities Corporation. The Company's common stock has been "blue skied" for trading in most states as a result of being listed in Standard and Poor's Corporate Records.
About American Terra Vehicles Corp.
American Terra Vehicles Corp. is the sole domestic producer of motor scooters as well as a leading manufacturer of other motorized consumer products such as, motorcycles and utility work vehicles. The Company's proprietary four-cycle engines are capable of running on gasoline, natural gas, and propane, which uniquely positions American Terra Vehicles as the only such supplier of small, motorized vehicles with the ability to operate on clean burning alternative fuels.