COACHMEN INDUSTRIES FINALIZES TRANSACTION, SELLS LUX COMPANY
COACHMEN RE-DEPLOYS ASSETS INTO CORE BUSINESSES
ELKHART, Ind., Oct. 2 /PRNewswire/ -- Coachmen Industries, Inc. (NYSE: COA -
news) announced today it has closed on its earlier announced sale of the assets
of the Lux Company, Coachmen Industries' manufacturer of seating products for
leisure use, located in Elkhart. The purchase includes Lux Company's real
estate, machinery and equipment, inventories and receivables. Lux employees will
also be retained by the buyer.
Officials from Coachmen said the sale of Lux is part of its asset utilization
program to divest non-core assets and direct its energies and focus on the
company's two core businesses, recreational vehicles and modular construction.
"With this divestiture we continue to redirect assets into our core businesses,"
stated Claire C. Skinner, Coachmen Chairman, CEO and President. "With a clear
focus on our core businesses, we are well positioned to continue to execute our
strategic plan for growth meeting the needs of our customers while building
shareholder value."
Coachmen Industries, Inc. is one of the nation's leading full-line manufacturers
of recreational vehicles. The company is also a leader in modular construction.
Coachmen is one of the industry's best-known brand names of RVs and All American
Homes, one of the company's modular divisions, is America's leading producer of
modular homes. Coachmen is a publicly held company with stock listed on the New
York Stock Exchange (NYSE) under the COA ticker symbol.
