Featherlite Names Exclusive Dealer for Vogue(R) 5000 Luxury Motorcoaches
22 June 1999
Featherlite, Inc., Names Exclusive Dealer for Vogue(R) 5000 Luxury Motorcoaches in Western United States
Oregon-Based Destinations RV, Inc., Becomes Featherlite's First Exclusive
Dealership for the Featherlite Vogue(R) 5000 Line
CRESCO, Iowa, June 22 -- Featherlite, Inc. , a
leading manufacturer and marketer of specialty aluminum trailers and luxury
motorcoaches, announced today that it has selected Destinations RV, Inc., the
West's fastest growing recreational vehicle dealership with locations in
Coburg and Bend, Ore., as an exclusive dealer for Featherlite's high-end
Vogue(R) 5000 line of luxury custom built motorcoaches. The agreement
provides Destinations RV with exclusive sales rights in seven states --
Washington, Oregon, California, Nevada, Idaho, Utah and Arizona -- and
portions of Wyoming and Montana.
The Vogue(R) 5000 coach, a Class "A", diesel-pusher motorcoach, is custom
designed and manufactured in Pryor, Okla., by the company's Featherlite Luxury
Coach Division. The Vogue(R) 5000 is fully fabricated from the chassis up,
featuring top quality appointments and amenities for the discriminating RV
customer. The Vogue(R) 5000 incorporates innovative features, custom design
and the top quality construction that is a hallmark of Featherlite's luxury
coaches, marketed under both the Featherlite Vantare(TM) and Featherlite
Vogue(R) brand names.
"We are very pleased to announce this important partnership with one of
the top RV dealers in the nation," said Conrad Clement, Featherlite's chairman
and chief executive officer. "We selected Destinations RV based on their
outstanding customer service reputation, their enlightened business philosophy
and their strong positioning in the market. This alliance will meaningfully
broaden Featherlite's national market presence with the addition of a
substantial number of potential Vogue(R) 5000 customers in the Western states.
"We look forward to contributing to the success and further growth of
Destinations RV and bringing our Vogue(R) 5000 to new customers in the very
large market served by this outstanding dealership," Clement said.
Jim Howard, co-owner of Destinations RV, said, "We are excited to partner
with one of the premier luxury motorcoach manufacturers in the U.S. At
Destinations RV, we take pride in providing exceptional service and top
quality products to our customers as the means to win their repeat business
and personal referrals over the long term. The alliance with Featherlite
further strengthens and broadens our product line and is consistent with our
goal of providing our customers with the best."
Clement said, "We continue to see excellent sales growth opportunities in
the luxury coach business and anticipate approximately $120 million in sales
in 1999, a 50 percent increase over 1998. Over the longer term, we foresee a
25- to 30-percent annual growth rate in Featherlite's luxury coach sales --
including both the Featherlite Vantare(TM) and Featherlite Vogue(R) product
lines. The new agreement with Destinations RV is highly supportive of our
aggressive plans for long-term market share growth in this exciting
recreational product category."
About Destinations RV
Founded in 1997, Destinations RV, Inc., had 1998 sales of approximately
$70 million, placing it among the top 10 percent of RV dealers nationwide.
The dealership carries a broad spectrum of nationally known recreational
vehicle brands and offers the second-largest inventory of pre-owned coaches in
the Northwest. With sales and full-service locations in both Coburg and Bend,
Ore., Destinations RV also sponsors the Destinations Unlimited Travel Club
which has more than 1,000 member families, making it one of the largest
dealer-sponsored travel clubs in the nation. Destinations RV, Inc., will be
opening a Southern California sales and service location by late summer 1999.
About Featherlite
Featherlite, Inc., with sales of $191 million in its fiscal year ended
Dec. 31, 1998, is an innovative leader in designing, manufacturing and
marketing high quality luxury motorcoaches and aluminum specialty trailers and
specialized transporters. With 80 percent of its business in the leisure,
recreation and entertainment categories, Featherlite has highly diversified
product lines offering 400 standard model and custom-designed aluminum
specialty trailers, specialized transporters and luxury motorcoaches.
Featherlite is the "Official Trailer" of NASCAR, Championship Auto Racing
Teams (CART), Indy Race League (IRL), SPORTSCAR, Automobile Racing Club of
America (ARCA), American Speed Association (ASA), World of Outlaws (W.O.O.)
and the National Hot Rod Association (NHRA). Through its Featherlite
Vantare(TM) and Featherlite Vogue(R) product lines, Featherlite is the
"Official Luxury Motorcoach" of NASCAR, IRL, SPORTSCAR, CART and NHRA. For
more information about the company, please visit Featherlite's website at
http://www.featherliteinc.com
Safe Harbor Statement under the Private Securities Litigation Reform Act:
Statements in this release looking forward in time involve risks and
uncertainties discussed here and in the company filings with the Securities
and Exchange Commission, including product acceptance and demand in each
segment of the Company's markets, the price of aluminum, competition, and
facilities utilization.
For more information, contact Doug Ewing of Swenson NHB Investor
Relations, 612-344-1036, for Featherlite, Inc., or Jeffery A. Mason, CFO of
Featherlite, Inc., 319-547-6000.