CAM Designs To Produce Sports Car For AC Car Group Ltd.COVENTRY (UK)/NEW YORK--(BUSINESS WIRE)--October 14, 1997--CAM Designs Inc. (Nasdaq: CMDA CMDA Chennai Metropolitan Development Authority (India) CMDA Christian Medical & Dental Association CMDA Capital Markets Development Authority (Fiji) ) today announced it has contracted with AC Car Group Ltd., a subsidiary of Pride Automotive Group, Inc. (Nasdaq: LEAS LEAS LATA Equal Access System LEAS Load Effective Address Into SP (assembly language) LEAS Latino Ethnic Attitude Survey (USA) LEAS Leading Edge Aviation Service ), to produce its AC Ace V8 sports car. CAM Special Vehicles, the Company's niche vehicle build group, will productionize and assemble these vehicles from components provided by AC Cars. CAM will first assemble six pre-production vehicles and in January 1998 commence a 100-unit production schedule for the first year of the contract for cars intended for UK and mainland Europe markets. During this first production year, AC Car Group Ltd. will seek the vehicle's compliance with US engineering and environmental standards to ultimately accelerate production starting in 1999 to reach the American market. The accelerated program could entail entail, in law, restriction of inheritance to a limited class of descendants for at least several generations. The object of entail is to preserve large estates in land from the disintegration that is caused by equal inheritance by all the heirs and by the ordinary as many as 500 cars annually. Commenting on the announcement, John R. Davidson, CAM Designs' Chief Executive Officer, stated, "We are delighted that AC Car Group Ltd. determined CAM Designs' specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. niche vehicle production capability to be a suitable match for the 150 mph ACE sports car. The sheer volume of potential production requires a manufacturing process that combines high quality hand-build with volume process engineered techniques. AC is Britain's oldest carmaker, tracing its history back to 1901 and we are pleased to be a part this project. We are discussing additional elements of participation for the Company for the AC Ace project which could increase substantially the value of this contract." CAM Designs Inc. is a leader in the design, engineering, manufacturing and prototyping for the automotive and aerospace industries. The Company also provides design and engineering personnel placement to these industries. -0- Statements made herein that are forward-looking in nature within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions, particularly in the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , consumer and industry acceptance of new products, delays, cost overruns Noun 1. cost overrun - excess of cost over budget; "the cost overrun necessitated an additional allocation of funds in the budget" cost - the total spent for goods or services including money and time and labor and changes associated with the performance of contract conditions, and regulatory risks. CONTACT: Robert A. Righton, C.F.O., CAM Designs Inc., tel. 011 44 1203 407700 or Hal Levine, The Levine Group, tel. (212) 682-8875 |
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