Titan Secures European Dealer Financing
3 December 1999
Titan Secures European Dealer FinancingPHOENIX, Dec. 2 -- Titan Motorcycle Co. of America announced finalization of an agreement with Transamerica, Distribution Finance Co., pursuant to which Transamerica will supply up to $6 million in new flooring financing for Titan's growing European dealership network. Additional details of the agreement were not disclosed. "We are pleased that we have been able to secure financing for our European sales program and with favorable terms. The reception afforded our new Titan models at the recent international motorcycle shows in Milan and Paris was exceptional," said Patrick Keery, president. "Our agreement with Transamerica, along with the addition of our new European headquarters facility, puts Titan in a position to capitalize upon what we believe to be a very large, long-term market for Titan's products throughout Europe," he said. Keery indicated that Titan's new European headquarters, located in Friedewald, Germany, is expected to become operational in January 2000. Founded in 1994, Titan Motorcycle Co. of America is a premier designer, manufacturer and distributor of high-end, American-made, V-twin engine motorcycles marketed under various Titan trademarks. Titan's unique, hand-built configurations, including the Gecko(TM), Roadrunner(TM), Sidewinder(TM), and Phoenix(TM) represent the finest available in custom-designed, volume-produced, performance motorcycles. Manufactured at the Company's corporate headquarters and manufacturing facility, and available with a variety of customized options and designs, Titan large displacement motorcycles are sold through a network of over 80 domestic and international dealers. NOTE: Any statements released by Titan Motorcycle Co. of America that are forward-looking are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risks and uncertainties that may affect the Company's business prospects and performance. These included economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.