Expansion Announced by Winnebago Industries
21 June 1999
Expansion Announced by Winnebago Industries; Added Capacity Targeted to Provide Additional 1000 Units Annually
FOREST CITY, Iowa, June 21 -- Winnebago Industries, Inc.
has announced a $3.6 million expansion plan for the Company's
manufacturing facilities in Forest City, Iowa.
Winnebago Industries' Chairman, CEO and President Bruce Hertzke said,
"Winnebago Industries is experiencing tremendous growth as evidenced by our
recent record earnings announcement, and we anticipate growth to continue well
into the future because of demographic trends. Not only is our target market
of consumers age 50 and older growing at a faster rate, this group also has
more discretionary income than ever before. Winnebago Industries should
benefit from this influx of consumers in particular because of the Company's
strong brand name recognition and its reputation for high-quality, affordable
products."
In order to meet this increased demand for its products, Winnebago
Industries will develop an approximate 45,000 square feet of additional motor
home manufacturing capabilities within its manufacturing complex. "To be
completed within the next year," Hertzke added, "the development is estimated
to increase Winnebago Industries' motor home manufacturing capabilities by
approximately 1,000 units per year and will employ over 200 additional
employees when at full production.
The Company also announced plans for a 16,000 square foot addition to its
Customer Service facility. "The new addition will allow us to expand our
commercial and specialty vehicle production, and painting operations to
accommodate special paint needs," Hertzke said. This addition will also add
14 service bays to enhance service and training capabilities.
As a leader in motor home manufacturing technology, Winnebago Industries
has a continued commitment to be in the forefront of new motor home product
development. Since the 1997 model year, over 75 percent of Winnebago
Industries' motor homes have been introduced as completely new models or have
been significantly redesigned. To continue this momentum, the Company will
also expand the Company's product development facilities to support new
technology in the research and development area.
Winnebago Industries, Inc. is a leading manufacturer of motor homes that
are self-contained recreation vehicles used primarily in leisure travel and
outdoor recreation activities. Other products manufactured by the Company
consist principally of a variety of component products for other
manufacturers. The Company builds quality products with state-of-the-art
computer-aided design and manufacturing systems on automotive-styled assembly
lines, conforming to what the Company believes to be the most rigorous testing
in the RV industry. The Company's common stock is listed on the New York,
Chicago and Pacific Stock Exchanges and is traded under the symbol WGO.
Options for the Company's common stock are traded on the Chicago Board Options
Exchange. Visit Winnebago Industries' Web site at http://www.winnebagoind.com
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that forward-looking statements are inherently uncertain. A number
of factors could cause actual results to differ materially from these
statements, including availability of chassis, slower than anticipated sales
of new or existing products, a significant increase in interest rates, a
general slowdown in the economy, or new product introductions by competitors.
Additional information concerning certain risks and uncertainties that could
cause actual results to differ materially from that projected or suggested is
contained in the Company's filings with the Securities and Exchange Commission
(SEC) over the last 12 months, copies of which are available from the SEC or
from the Company upon request.