More good news. I just received an email that said:
Good News from the RV Industry - We May have Turned the Corner!
NuWa to Begin Production in June. NuWa Industries Inc. intends to start building HitchHiker fifth-wheels again beginning in June after a six-month shutdown of its factory in Chanute, Kan., according to a letter on the company's website. In the letter, CEO Mike Mitchell said the company will roll out 2010 product through the fall while cutting retail prices substantially as it will begin selling RVs factory-direct to better service consumers consumers without a NuWa dealer nearby.
"NuWa will be a smaller company, so we will not be as much at the mercy of a volatile economy," Mitchell wrote. "NuWa will have fewer dealers by choice, and these will be selected for their commitment to HitchHiker trailers and the exceptional customers who seek our product."
The company announced in late December that it was making "a graceful exit from the RV industry" and would stop production in January while keeping a service center open until at least 2010 to meet the parts, warranty and service needs of its customers and dealers. At the time, dealers were told that NuWa was not going bankrupt and "intended to meet its financial obligations."
More Good News!
Country Coach - Set to Reopen: Luxury motor coach manufacturer Country Coach LLC said that its principle secured debt holders have come to terms and new reorganization financing will be made available. With the support of Wells Fargo Bank as the company's primary secured creditor, and Bryant Riley as the leader of Country Coach's investor group, the company said it is positioned to resume operations. Country Coach shut down its Junction City, Ore., facility last December. The company reported that it has many confirmed, in-process motor coach orders to fulfill, allowing a slow and steady production facility reopening over the next several weeks.
"Our loyal employees, customers and suppliers deserve our heart-felt appreciation for their steadfastness in our times of trouble," said CEO and President Jay Howard. "Ultimately, our biggest debt of gratitude is owed to Wells Fargo Bank, who is providing the financing for the rebirth of Country Coach as they recognize the value of financially supporting American manufacturing in the Pacific Northwest."
Winnebago Confident about Future!
"Even with a depressed retail market, I continue to believe that once our dealers' floorplan lenders provide the dealers with sufficient credit to enable them to reorder product to more closely match retail sell-through, we will experience an increase in deliveries," said Olson. Looking forward, Winnebago said that its financial stability along with contraction among manufacturers would put it in a strong position once the market returns.
"While several major competitors are in very difficult financial circumstances, we are confident of our financial strength and competitive position in this economic recession," said Olson. "We have enviable brand strength, quality products and financial stability to withstand the downturn."
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