Titan Obtains 90-Day Extension for Its Existing Credit Line
PHOENIX, April 12 /PRNewswire/ -- Titan Motorcycle Co. of America (Nasdaq: TMOT) announced today reaching an agreement with its lender, Wells Fargo Credit, Inc., for a 90-day extension of its existing credit line.
"This extension will facilitate Titan's timing for bringing in a new lender with anticipated high borrowing capability," said Bob Lobban, Titan's chief financial officer. "We are currently negotiating with several possible new lenders whom we believe could put us on a better financial footing going forward, should we be successful in finalizing a deal at the terms presently under discussion."
Founded in 1994, Titan Motorcycle Co. of America is a premier designer, manufacturer and distributor of high-end, American-made, V-twin engine motorcycles marketed under various Titan trademarks. Titan's unique, hand-built configurations, including the Gecko(TM), Roadrunner(TM), Sidewinder(TM) and Phoenix(TM) represent the finest available in custom-designed, volume-produced, performance motorcycles. Manufactured at the Company's corporate headquarters and manufacturing facility, and available with a variety of customized options and designs, Titan large displacement motorcycles are sold through a network of over 80 domestic and international dealers.
NOTE: Any statements released by Titan Motorcycle Co. of America that are forward-looking are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risks and uncertainties that may affect the Company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.
SOURCE Titan Motorcycle Co. of America
CO: Titan Motorcycle Co. of America; Wells Fargo Credit, Inc.
ST: Arizona
IN: AUT
SU:
04/12/2000 06:00 EDT prnewswire.com |
