Fleetwood Closes Gold Shield Plant in Fontana, California
August 22 2007 - 5:00PM
PR Newswire (US)
RIVERSIDE, Calif., Aug. 22 /PRNewswire-FirstCall/ -- Fleetwood
Enterprises, Inc. (NYSE:FLE) announced today the closing of its
Gold Shield, Inc. facility in Fontana, California, which
manufactures custom open-molded fiberglass parts. Employees were
notified in July of the impending closure. Recreational vehicle
industry pressures necessitated closure of the Fontana facility.
Gold Shield's Riverside plant, which manufactures rotational and
thermoformed products, is not affected by the closure. The Fontana
plant will be closed on or about September 28, 2007, and Fleetwood
currently intends to make this property available for sale. About
Fleetwood Fleetwood Enterprises, Inc., through its subsidiaries, is
a leading producer of recreational vehicles and manufactured homes.
This Fortune 1000 company, headquartered in Riverside, Calif., is
dedicated to providing quality, innovative products that offer
exceptional value to its customers. Fleetwood operates facilities
strategically located throughout the nation, including recreational
vehicle, factory-built housing and supply subsidiary plants. For
more information, visit the Company's website at
http://www.fleetwood.com/. This press release contains certain
forward-looking statements and information based on the beliefs of
Fleetwood's management as well as assumptions made by, and
information currently available to, Fleetwood's management. Such
statements, such as those regarding improved efficiency, adequate
liquidity, market share gains, and improving operating results,
reflect the current views of Fleetwood with respect to future
events and are subject to certain risks, uncertainties, and
assumptions, including risk factors identified in Fleetwood's 10-K
and other SEC filings. These risks and uncertainties include,
without limitation, the lack of assurance that we will regain
sustainable profitability in the foreseeable future; the effect of
ongoing weakness in the manufactured housing market and more recent
weakness in the recreational vehicle market; the effect of global
tensions, fuel prices, interest rates, and other factors on
consumer confidence, which in turn may reduce demand for our
products, particularly recreational vehicles; the availability and
cost of wholesale and retail financing for both manufactured
housing and recreational vehicles; our ability to comply with
financial tests and covenants on existing debt obligations; our
ability to obtain the financing we will need in the future to
execute our business strategies; the cyclical and seasonal nature
of both the manufactured housing and recreational vehicle
industries; expenses and uncertainties associated with the entry
into new business segments or the manufacturing, development, and
introduction of new products; the potential for excessive retail
inventory levels in the manufactured housing and recreational
vehicle industries; the volatility of our stock price; repurchase
agreements with floorplan lenders, which could result in increased
costs; potential increases in the frequency of product liability,
wrongful death, class action, and other legal actions; and the
highly competitive nature of our industries. DATASOURCE: Fleetwood
Enterprises, Inc. CONTACT: Lyle Larkin, Vice President - Treasurer,
+1-951-351-3535, or Kathy A. Munson, Director - Investor Relations,
+1-951-351-3650, both of Fleetwood Enterprises, Inc. Web site:
http://www.fleetwood.com/
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