SAN CLEMENTE, Calif., Feb. 7, 2007 (PRIME NEWSWIRE) -- Patriot Motor Corporation (Pink Sheets:PMCY), parent company of Patriot Motorcycle Corporation, today announced the signing of a Letter of Intent with Campell U.S.A., Inc., a subsidiary of Chinese ATV manufacturer, Jiangxi Campell Co., Ltd., located in Nanchang, China. The Letter of Intent provides for Patriot Motor Corporation, after an initial six-month evaluation period, to have the exclusive right to be the sole distributor in the United States of Patriot Off-Road(tm) all-terrain vehicles manufactured by Jiangxi Campell.
Initial ATV and UTV offerings will include the 250cc (4x2) ATV, the 650cc (4x4) ATV and a pair of 650cc UTV's (2-Seater and 5-Seater). These products are the first Chinese off-road vehicles to incorporate AMT transmissions, a true automotive style transmission that provides for better torque output and rider control. A complete line of accessories is currently available as well from Jiangxi through Patriot, including winches, trailers, plows and alloy chrome wheels. Jiangxi Campell Co., Ltd., backed by the Chinese government, is also committed to working in concert with Patriot to design and manufacture a complete line of sport and utility off-road products to be introduced this month. Under the Agreement, Campell agrees to provide products to Patriot that meets all government (Federal, state and local) compliance requirements.
All four products are scheduled to be introduced at the "DealerNews" Dealer Expo 2007 in Indianapolis, Indiana in mid-February, where representatives from both Patriot and Campell will be available for dealer and sales inquires. "We expect a high degree of interest and a strong reception to our new line," notes Richard Charland, National Sales Manager for Patriot Motor Corporation. "Dealer response to the initial product offerings has been tremendous and our marketing staff is in the process of obtaining pre-orders while the factory has already begun to manufacture the initial order for Patriot."
As part of the Agreement, Campell U.S.A. will import and warehouse the products at their facilities in Rancho Cucamonga, California. Patriot will purchase the product, FOB Rancho Cucamonga, with payments made at the time of dealer sale. Additionally, Campell will provide all warranty and warranty-related customer service from the same facility.
Michel Attias, CEO of Patriot Motor Corporation, stated, "I believe this partnership with Jiangxi Campell will firmly re-establish Patriot as a leader in the distribution of affordable, quality off-road products for both personal and commercial use. By enabling Patriot to make payments at the time of dealer-sale, instead of at the beginning of the manufacturing process, Patriot gains a significant cash advantage through this arrangement by eliminating the overhead cost. Additionally, our new product offering will extend beyond recreation into industrial and commercial use, which will potentially enable Patriot to gain market share beginning in 2007."
About Patriot Motor Corporation
Patriot Motor Corporation (PMCY) is the parent company of Patriot Motorcycle Corporation -- exclusive distributor of the Patriot OffRoad(tm) line of dirt bike motorcycles and All-Terrain Vehicles (ATVs) and a line of domestic V-Twin custom and production street bikes branded under the names Steed(r) by Patriot(tm) 300 Series and Patriot(tm) V-Twin(tm) 200 Series.
Other divisions include Patriot Marine Industries -- performance watercraft design and engineering -- and Patriot Productions, which produces the nationally syndicated weekly television show "Steel Dreams," currently reaching 75 million households. The company and its management are firmly committed to building the Patriot(tm) brand, to building a significant and substantial domestic and international dealer organization and to distributing the finest products that consistently challenge and/or out-price competitors by as much as 50%. Additional Patriot branded products and accessories are also being continually evaluated and offered. For more information visit http://www.patriotmotorcycles.com and http://www.steeldreams.tv.
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Note: Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1934, as amended. These forward-looking statements are made based upon information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include, but are no limited to, demand for the company's products and services, Patriot Motorcycle Corporation's (PMCY) ability to continue to develop its market, general economic conditions and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.