EL CAMPO, Texas, April 18, 2007 (PRIME NEWSWIRE) -- Exousia Advanced Materials, Inc. (OTCBB:EXOU) announces that the company has signed a letter of intent (LOI) to acquire Little Trailer Company, Inc. (LTC).
LTC is a well-known trailer and recreational vehicle manufacturing company located in Elkhart, IN. LTC manufactures and sells a broad line of products for both business and recreational purposes. The company is most recognized for its small "teardrop" trailer and its nineteen-foot lightweight fifth-wheel RV trailer.
In Exousia's March 29th press release, the company announced its intention to acquire Product Spectrum Group, Inc. (PSG), an established manufacturing company also located in Elkhart, IN. PSG manufactures laminated walls, floors, rooftops and other structural components for the recreational vehicle and cargo trailer industry. PSG also produces Structural Insulated Panel Systems (SIPs) for residential and commercial construction.
Mr. J. Wayne Rodrigue, Chairman of Exousia Advanced Materials, Inc., said, "The acquisition of Little Trailer Company will further enhance the manufacturing synergies gained through our acquisition of Product Spectrum Group. LTC manufactures their products using laminated panels and structural components purchased from PSG, who manufactures those products from raw materials purchased from Exousia."
Mr. Rodrigue added, "LTC currently produces approximately 1,000 units per year. With minimal capital investment and additional shifts we anticipate dramatically increasing LTC's production. This increase will be necessary to satisfy the increased demand that we expect will be generated from the combined efforts of our marketing staff and sales force."
Mr. Rodrigue went on to say, "From 1994 to 2004, the RV industry has grown from $6 billion to over $14 billion annually, a 133% increase. More importantly, over 70% of all RV's are made within a thirty-mile radius of Elkhart, IN. With the key acquisitions of these two well-respected companies, we have established the fundamental groundwork for making Exousia a prominent player in the recreational vehicle industry."
Mr. Rodrigue further stated, "Through the application of our proprietary materials and processes, PSG will be able to produce products with enhanced strength, durability, cost effectiveness and performance. We believe this will have broad positive implications for the RV, mobile home, boating and trucking industries, as well as the commercial and residential construction sectors."
Forward-Looking Statements
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's SEC filings on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.