Coach Industries Group Announces Competitive Price Allowance Agreement with Ford Motor Company.COOPER CITY, Fla. -- Coach Industries Group, Inc. ("Coach") (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 including insurance products to commercial fleet operators, today announced Coach has entered into a Competitive Price Allowance (CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. ) agreement with Ford Motor Company (Ford) through the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Coach, Subcontracting Concepts Inc. (SCI (Scalable Coherent Interface) An IEEE standard for a high-speed bus that uses wire or fiber-optic cable. It can transfer data up to 1GBytes/sec. (hardware) SCI - 1. Scalable Coherent Interface. 2. UART. ). Robert Lefebvre, President of SCI, commented, "SCI has produced extraordinary success providing value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. financial service products to over 5,500 commercial fleet drivers over the past six years. The additional pricing incentives we can provide to our drivers and contractors through our expanding strategic partnership with Ford, will create a significant competitive advantage as we grow our revenue base at Coach to approximately $290 million in FY 2005." "The CPA granted to SCI for our drivers and contractors also provides a significant lease financing opportunity for Coach," explained David Russell, Vice President of Coach Financial Services (CFS CFS abbr. chronic fatigue syndrome CFS, n.pr See syndrome, chronic fatigue. CFS Chronic fatigue syndrome, see there ). "Without providing any assurances, we believe the successful product rollout of the CPA to SCI drivers and contractors will create an opportunity to increase the CFS lease portfolio by approximately $10 Million over the next twelve months." There can be no assurances that the revenue base or lease portfolio projections will be achieved. Additionally Frank O'Donnell, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Coach states, "Coach continues to demonstrate the value proposition our company strives to deliver for Commercial Fleet Operators. Coach provides contract settlement and payroll processing to commercial fleet operators and drivers. Additionally we can facilitate the purchase of vehicles for our operators and drivers at pricing levels our competition cannot meet, and we provide lease financing for those vehicles." Mr. O'Donnell further states, "Coach demonstrated in Q1 2005, our ability to drive profitability. By integrating our product offerings across business lines, we will enhance and drive our continued success." About Coach Industries Group, Inc. Coach Industries Group, Inc. (OTCBB:CIGI) ("Coach"), is a holding company focused on providing financial services and the manufacturing of luxury limousine and specialty vehicles to Commercial Fleet Operators. Safe Harbor Statement Safe Harbor 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 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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