Rhino Off-Road RTV Facility in China Readies Production Line.
HENDERSON, Nev. -- Rhino Outdoor International, Inc. (OTCBB: RHOI), which operates outdoor activity based businesses, including wholly owned subsidiary Rhino Off-Road Industries, Inc., reported today that equipment is being installed and materials and parts are being ordered to begin assembly of the Rhino Off-Road RTV at facilities in China. The company previously announced an agreement with Hebei Sida Industry Group Co, LTD (HSIG) in China for production of the innovative off-road vehicle.
Representatives from Rhino Off-Road Industries are traveling to China to coordinate set-up of the production line and to work with counterparts at HSIG to place initial orders for materials and components for the assembly of the vehicles. Design and engineering plans are in place and a template vehicle was delivered to the facility last month. HSIG has placed an order for 1000 vehicles to be delivered over the next three years as part of the agreement between the companies.
"We plan to introduce the Rhino Off-Road RTV to the Chinese market at iOffroad Asia in December of this year," stated Howard Pearl, CEO & President of Rhino Outdoor International, parent company of Rhino Off-Road Industries. "The market for off-road vehicles in China has quadrupled over the past 5 years and is growing at over 18% per year. Experts predict that China will be the world's largest auto market within the next decade." iOffroad Asia is an international exhibition of off-road vehicles which will be held at the China World Trade Center in Beijing, December 5 - 8th 2007. For information on the show visit www.ioffroadasia.cn.
HSIG has a 100,000 square foot facility, which is large enough to produce 5000 RTVs per year. The first phase will include two product lines housed in 30,000 square feet with annual production of up to 1000 RTVs. In order to meet production demand, the facility will feature in-house tube-bending, laser cutting and a large powder-coating facility. Additionally an on-site off-road testing area will be built.
About Rhino Off-Road Industries
Rhino Off-Road Industries is the manufacturer of the innovative Rhino Off-Road Rough Terrain Vehicle (RTV). The RTV was designed for active, outdoor oriented families and individuals wanting to experience off-road adventure in virtually any off-road terrain. The Rhino RTV has added a new dimension to wilderness adventure tours and created a new category in the growing off-road rental industry. The dependable and affordable Rhino Off-Road RTV is manufactured in Henderson, NV. For more information please visit the ROI website at www.RhinoBrands.com.
Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this news release are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, the impact of competition, the success of existing and new product releases, the management of our growth, other risk factors inherent in the outdoor recreation, Internet, and media industries and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.