Titan Announces Reduction in Staff
5 January 2000
Titan Announces Reduction in StaffPHOENIX, Jan. 5 -- Frank Keery, chief executive officer of Titan Motorcycle Co. of America , announced today a 17 percent reduction in force, primarily in the area of manufacturing. Keery indicated that the reduction in personnel, effective during the first quarter, results from a combination of seasonal factors, as well as major productivity improvements. "While our plans for year 2000 indicate a major increase in unit volume, plant-wide efficiencies and less labor intensity per unit indicate that fewer personnel will be required to meet our production goals," said Keery. Keery emphasized that the company's outlook for 2000 remains positive. "We have made excellent marketing strides in the United States and overseas, and we are confident that the manufacturing efficiencies we have achieved will serve us well as we expand Titan's market," Keery said. 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, Sidewinder and Phoenix 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 include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.