Lund International Holdings, Inc. Announces In House Merger
21 July 1999
Lund International Holdings, Inc. Announces Suspension Division and Tubular Products Supply Company to MergeANOKA, Minn., July 21 -- Lund International announces the merger of its Suspension Division in Coldwater, Mich., with its Tubular Product Supply Company in Corona, Calif. As well, Mr. James Chick, President of Lund's Suspension Division, assumes responsibility for the Tubular Product Supply Company as Vice President and General Manager. The merger will lead to the relocation of the Suspension Division operations from Michigan to the Corona, Calif. facility early next year. Benefits expected from this merger include more timely release of new product designs and applications, manufacturing efficiencies and reduced administrative expenses. The Suspension Division of Lund International designs, manufactures, and distributes suspension products for the automotive accessory market under the Trail Master, Streetmaster and 4-Way brands. The Tubular Product Supply Company designs and manufactures metal tubular steps, nerf bars, brush guards, and light protectors under the Smittybilt brand. Lund International acquired Smittybilt, Inc. in January 1999. James Chick became President of the company's Suspension Division in 1996. Previously, he was employed in senior management positions in the automotive accessories industry. Based in Anoka, Minn., Lund International Holdings is a leading designer, manufacturer, and marketer of a broad line of automotive accessories. Statements in this press release relating to expected benefits from the merger are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties which could cause results to differ materially from those anticipated. Among the factors that could cause expected benefits of the merger to differ materially are the following: inability to obtain expected efficiencies, or to obtain them in a timely manner; inability to release new products and applications in a timely manner; inability to effectively manage a larger enterprise, to integrate the two companies, or to control costs associated with such merger. This is not an exhaustive list and the Company may supplement this list in future filings or releases or in connection with the making of forward-looking statements.