Coach Industries Group Announces Credit Facility; Industry Shows Strength as Ford Motor Company Announces Limousine Orders Up 150%.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--April 12, 2004 Coach Industries Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CIGI CIGI Computer Image Generator Interface CIGI Career Information Guidance India CIGI Coach Industries Group Inc. ) ("Coach") a holding company focused on the luxury automotive and limousine manufacturing industry, announced today that its wholly-owned subsidiary, Commercial Transportation Manufacturing Corporation (CTMC CTMC Canadian Tobacco Manufacturers' Council CTMC Continuous Time Markov Chain CTMC Classical Trajectory Monte Carlo CTMC Central Texas Medical Center (San Marcos, Texas) CTMC Communication Theory Mini-Conference ) (www.uscoach.com), has received a One Million Six Hundred Thousand Dollar ($1,600,000) credit facility from a private funding source. The facility is a two year agreement and will be used to finance inventory. Separately, in February 2004, Ford Motor Company Limousine and Livery Manager, Mike Bedard, announced that, "Limousine and Livery orders are currently running at over 150% of last year...showing a recovery in our industry is underway." Commenting on the announcement, Francis O'Donnell, President and Chief Executive Officer of CIGI commented, "This credit facility will allow us to more efficiently accommodate the growth we are experiencing at our CMTC CMTC S-(carboxymethylthio)cysteine CMTC Combat Maneuver Training Center (US Army) CMTC California Manufacturing Technology Consulting CMTC Cutis Marmorata Telangiectatica Congenita limousine manufacturing subsidiary." O'Donnell further commented, "Ford Motor Company's recent announcement of increased limousine orders further confirms our belief that we are beginning to see a significant cyclical upturn in business stemming primarily from pent-up demand from limousine operating companies which have deferred purchases of new limousines throughout the economic recession. Coach Industries is extremely well positioned to take advantage of this upturn in the market." About Coach Industries Group, Inc. Coach Industries Group, Inc. is a holding company focused on the luxury automotive and limousine manufacturing industry. Its two wholly-owned subsidiaries, Springfield Coach Industries Corporation, Inc. ("Springfield") (www.limoland.com) and Commercial Transportation Manufacturing Corporation ("CTMC") (www.uscoach.com), are among the largest and most respected limousine manufacturing companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . 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 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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