Rexhall Industries Sells Indiana Facility
23 December 1999
Rexhall Industries Sells Indiana Facility
Motorhome Manufacturer is Expected to Realize Pre-Tax Gain
LANCASTER, Calif., Dec. 22 -- Rexhall Industries, Inc.
announced today that it has sold its former manufacturing plant
in Elkhart, Ind. The Lancaster, Calif.-based manufacturer of Class A
recreational vehicles said the sale is expected to result in a pre-tax gain of
$400,000 to $500,000 in the quarter ending Dec. 31, 1999.
Rexhall halted production at its 97,000 square foot Indiana factory nearly
two years ago as it consolidated its operations in California. Currently,
Rexhall's manufacturing operations are located at its corporate headquarters
in Lancaster, Calif. The Company recently announced plans to build a new
250,000 square-foot plant adjacent to its California facilities to keep pace
with strong demand for its Class A motorhomes.
"The sale of our Indiana facility should help strengthen our balance sheet
as fiscal 1999 draws to a close," said William J. Rex, chairman, president and
chief executive officer of Rexhall Industries. "We remain committed to
serving the rapidly growing RV market in the Midwest and recently formed a new
sales division to cover this important region."
In October, Rexhall created a new sales division to help the Company
increase market penetration and expand its dealership base in both the Midwest
and East Coast. Rex said that the Company wants to accelerate already-strong
sales by adding new dealers and distributors in key markets.
Rexhall Industries, Inc. (http://www.rexhall.com) designs, manufactures and sells
various models of Class A motorhomes used for leisure travel and outdoor
activities. Rexhall's six lines of Class A motorhomes, sold through over
100 dealer locations across the United States, Canada and Europe, include
Aerbus, RexAir, Vision, American Clipper, Anthem and RoseAir. Rexhall was
recently ranked one of America's 100 Fastest Growing Companies by Individual
Investor magazine.