Autocar purchases plant in Indiana

Grand Vehicle Works Holdings Corporation, parent company of Autocar, LLC, today announced that it has purchased the former Dana manufacturing plant in Hagerstown, Indiana, for Autocar 's new world headquarters and truck manufacturing facility. Located between Indianapolis, Indiana and Dayton, Ohio, the facility will accommodate Autocar's assembly equipment and its newly purchased operating systems that will provide a world-class production environment. Limited pilot production will start in the second quarter of 2003, with full production scheduled to begin no later than July 2003 -- which is in line with the company's previously published plans. "This is a day truly worth celebrating," says Bob Enright, president of Autocar. "Our Autocar management team has worked very hard to locate a world-class production facility that will meet our long-term manufacturing needs and accommodate our aggressive growth plans. Hagerstown, which was one of several potential sites, clearly meets our criteria." "Autocar is committed to providing the heavy duty low-cab-over engine (LCOE) marketplace with the highest quality product," notes Bob Atkins, Autocar's general manager. "Every part of our selection process was focused on ensuring that we meet that commitment. For example, the site is strategically located in proximity to our partner suppliers and will greatly expedite our inbound and outbound logistics process. And being just 30 minutes from our sister companies will allow us to take full advantage of synergies that can help us deliver even more value to our customers." Autocar, LLC was formed in July 2001, when parent company Grand Vehicle Works Corporation purchased the Autocar name and the Xpeditor truck line from Volvo Trucks North America, Inc.

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