Exhibit 99.1
[COMPANY LOGO]
THOR
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INDUSTRIES, INC.
419 WEST PIKE STREET - P.O. BOX 629 - JACKSON CENTER, OHIO 45334-0629
PHONE 937-596-6849 FAX 937-596-6539
N E W S R E L E A S E
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Date: May 27, 2005
Contact: Wade F. B. Thompson or Peter B. Orthwein
THOR ACQUIRES ASSETS OF GOSHEN COACH
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Thor Industries, Inc. (NYSE: THO) announced today that it acquired substantially
all of the assets of Goshen Coach, Elkhart, Indiana for approximately $9.5
million cash.
Goshen Coach which filed Chapter 11 bankruptcy in early May is the second
largest manufacturer of small and mid size buses, with annual sales including
chassis of approximately $75 million. Its acquisition will give Thor
approximately 45% of the small and mid size bus industry. Thor plans to operate
Goshen as a separate entity.
The mid-size bus industry is up 16% this year. "Most of our buses have a 5 year
effective life and we are seeing good replacement orders for buses sold in 1999
and 2000. We expect the industry to continue its growth and are pleased to
enhance our leadership position with this acquisition," said Wade F. B.
Thompson, Thor Chairman.
Thor is the largest manufacturer of recreation vehicles and the largest builder
of mid-size buses.
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This release includes "forward looking statements" that involve uncertainties
and risks. There can be no assurance that actual results will not differ from
the Company's expectations. Factors which could cause materially different
results include, among others, the success of new product introductions, the
pace of acquisitions and cost structure improvements, competitive and general
economic conditions, and the other risks set forth in the Company's filings with
the Securities and Exchange Commission.