Coach Industries Group, Inc. - 'CIGI' - Establishes Banking Relationship with Wachovia Bank.COOPER CITY, Fla. -- Coach Industries (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CIGI CIGI Computer Image Generator Interface CIGI Career Information Guidance India CIGI Coach Industries Group Inc. ), which offers an array of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and insurance products to commercial fleet operators, today announced it has established an overall banking relationship with Wachovia For Moravian settlements in North Carolina, see . Wachovia Corporation (NYSE: WB), based in Charlotte, North Carolina, is the third largest banking chain in the United States based on total deposits. Bank, N.A. Susan Weisman, Chief Financial Officer of Coach Industries, commented, "The relationship with Wachovia allows Coach to free up $1.5 million of cash collateral, associated with its current facility. The released cash will enable Coach to execute more efficiently against our business plan. We look forward to a long and prosperous relationship with Wachovia and anticipate our banking requirements growing as the Company expands and establishes itself as the premier provider of services to commercial fleet operators. The new relationship should assist us in continuing to expand our services and accomplish our financial objectives for 2005." Robert Lefebvre, President of Subcontracting Concepts, Inc., commented, "Wachovia has exceeded our expectations. We look forward to expanding the services offered to our drivers through Wachovia and we believe that the overall coverage that Wachovia provides will help us meet our drivers day to day banking requirements." About Coach Industries Group, Inc. Coach Industries Group, Inc. (OTCBB:CIGI) is a holding company focused on providing financial services and the manufacturing of luxury limousine and specialty vehicles to Commercial Fleet Operators. 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. Statement under 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: The Statements which are not historical facts contained in this press release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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