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EXHIBIT 99.3
For Immediate Release Contact: John L. Pugh
(770) 438-9595
DORSEY SUSPENDS OPERATIONS
ATLANTA, GEORGIA, November 28, 2000 - Dorsey Trailers, Inc. (DSYT) announces it
has suspended operations at its three manufacturing plants in order to review
its options.
Mr. John L. Pugh, Chief Executive Officer for Dorsey, issued this statement,
"After meeting with our lender, we have decided to suspend operations at our
three manufacturing plants in Elba, Alabama; Cartersville, Georgia and Dillon,
South Carolina until all of our options can be evaluated. Filing a petition for
bankruptcy is a distinct possibility. Some limited production will take place in
order to finish trailers that are near completion, but substantially all
production is suspended as we evaluate our options. We expect this evaluation
process to be completed quickly."
Certain statements in this press release and statements by the Company in
reports to its stockholders and public filings, as well as, oral public
statements by Company representatives may be deemed to be forward-looking
statements, as defined by the Private Securities Litigation Reform Act of 1995.
Any forward-looking statements included herein have been included based upon
facts available to management as of the date of the statement. Any forward
looking statement is, however, inherently subject to the uncertainty of future
events, whether economic, competitive or otherwise, many of which are beyond the
control of the Company, or which may involve determinations which may be made by
management in the future. There can, therefore, be no assurances that the events
or results described in such forward-looking statements will occur and actual
events or results may vary materially from those included herein.
Without limitation, the following are some of the factors which may affect
whether the events or results described in such forward-looking statements will
occur: increased competition, dependence on key management, continued
availability of credit from vendors, continued advancement of funds from lender,
reliance on certain customers, shortages of raw materials, component prices,
labor shortages or work stoppage, dependence on current industry trends and
demand for product, manufacturing interruption due to unfavorable natural
events, unfavorable results of outstanding litigation, government regulations
and new technologies or products. Readers should review and consider the various
disclosures made by the Company in this press release and in its reports to
stockholders and periodic reports on Form 10-K and 10-Q.
