As previously announced, Thor had proposed the acquisition of all Coachmen's shares for nominal $18.00, sixty percent in cash and forty percent in stock. Thor was soliciting Coachmen shareholders to withhold votes for Coachmen's slate of director nominees and to oppose its 2000 stock incentive plan at Coachmen's annual meeting held in May.

In rejecting the Thor proposal, the board determined that it is not in the best interests of Coachmen's shareholders, employees, dealers, customers, suppliers, communities and other stakeholder constituencies.

In a statement Thor said it was surprised and disappointed that the Coachmen Industries, Inc board had again rejected Thor's merger offer.

Again, the statement continued, Thor wishes to complete a friendly merger, which is in the best interest of all Coachmen stakeholders.

Coachmen Shareholders Elect Board, Approve Stock Incentive PlanSales and Earnings Down
Coachmen Industries, Inc. (NYSE: COA) said that its shareholders elected 10 directors of the company to hold office for the ensuing year and approved the company's 2000 Omnibus Stock Incentive Program, pending being certified by CT Corporation, appointed as the independent judge of the election.

Claire C. Skinner, chairman and CEO, said, "I am very gratified by the voting results and the expressions of support from so many of our shareholders, employees, dealers, builders and suppliers."

At the meeting of the board of directors in May, Coachmen's board approved the release of first quarter results. Sales for the first quarter ending March 31, 2000 were $195.2 million, a 7.5% decrease from last year's record first quarter sales of $211.0 million.

Diluted earnings per share were 26 cents for the quarter, compared to 43 cents in the comparable period in 1999, a 39.5% decrease. Total net income for the quarter was $4.0 million, a 44.2% decrease compared with $7.2 million recorded in the same period last year.

According to Coachmen, the reduction in sales was primarily due to the divestiture of Coachmen's van conversion division and certain company owned dealerships completed during the first quarter of 2000. The van conversion division was marginally profitable during the first quarter of 1999.

The reduction in earnings was the result of four factors. First, the company has experienced higher costs in a variety of areas as a result of the reconfiguration of the facilities that were formerly occupied by Coachmen's van conversion business to build Georgie Boy diesel Class A motorhomes, and costs related to the growth of the modular housing segment. These costs reduced gross profit on sales and operating income. A second factor is the recognition that delayed deliveries of RV products during 1999 have, in turn, slowed wholesale deliveries into 2000. Also, sporadic weather related delivery problems among the All American Homes operations impacted first quarter sales. Finally, there are continuing implementation costs associated with new technology system solutions.

"The fundamentals of our business remain strong with good cash flows and a strong balance sheet," said James E. Jack, executive vice president and chief financial officer. "Moving forward, we expect that our strategies, capital expenditures on plant and equipment and investments in new technology, accompanied by our loyal and expanding dealer and builder base, will result in improved performance."

Sales and Earnings Up in First Quarter for Coast Distribution System, Inc.
The Coast Distribution System, Inc. (Amex: CRV) reported net sales for the first quarter ended March 31, 2000 increased 7% to $43.9 million as compared to $41.1 million for the first quarter of 1999. The company earned $413,000, or $0.10 per share, in 2000 versus $340,000, or $0.07 per share, in the first quarter of 1999. Diluted average shares outstanding for the three months ended March 31, 2000 were 4,314,804 in 2000 and 5,143,526 for the same period in 1999. The reduction in the average number of shares outstanding in 2000 as compared to 1999 was the result of the company's 1999 repurchase of approximately 1,000,000 shares of its common stock.

Tim McGuire, chairman and CEO, said, "In general, sales in the first quarter reflect our continued penetration in the marine aftermarket as well as a strong dealer showing at our annual RV buying show held in Las Vegas. Accompanying these sales, however, were corresponding increases in our sales expenses and trade show expense. We will continue to invest to increase our marine market share as it represents one of our best opportunities for growth. General and administrative expenses for the first quarter were also negatively impacted by our computer conversion process.

"Management's focus for the balance of 2000 is to identify opportunities to reduce both the operating costs and the assets required to run the business. We are committed to making those changes that will return the company to acceptable levels of profitability in the future."

3M Establishes Recreational Vehicle Industry Center
3M recently established a Recreational Vehicle Industry Center, a product development, marketing, sales and service team, dedicated to bringing 3M products and system solutions to the RV industry. The 3M RV Industry Center offers a full range of 3M products, services and technologies for the rapidly growing RV market, including more than 200 RV manufacturers and their suppliers, in the United States and Canada.

Bryan Bergoine, marketing and sales manager of the 3M RV Industry Center, said, "3M currently supplies more that 1,000 products to the RV market. 3M's first customers, back in 1902, were in the automotive industry, so the RV market became a natural progression for many of our products. The 3M RV Industry Center will continue to market items from a variety of 3M businesses, including abrasives, adhesives, tapes, safety products, electrical, graphics and many more."

The special 3M sales and service team, dedicated to original equipment manufacturers and geographically located near centers of RV manufacturing, has been organized to support the industry. 3M RV representatives will serve as a single point of contact for OEMs, tapping the vast array of products and technologies 3M offers, to help RV manufacturers enhance their designs, increase productivity and serve their customers better than ever.

Fleetwood's Record FY2000 RV Revenues Reach $1.9 Billion
Fleetwood Enterprises, Inc. (NYSE: FLE), reported RV revenues for the fiscal year 2000 climbed 11% to a new high of $1.91 billion, with all product segments generating record volume. Motorhome sales rose 13% to $1.20 billion, primarily due to higher revenues from sales of larger Class A models. In the towable categories, both travel trailer and folding trailer sales were up 7% to $590 million and $124 million, respectively.

These results are based on Fleetwood's preliminary sales for the fourth quarter and fiscal year ended April 30, 2000.

Revenues for fiscal year 2000 reached an all-time high of $3.71 billion, 6% ahead of the prior year, as a result of record RV sales and the continuing expansion of the company's retail housing business. In the fourth quarter, weak market conditions in the manufactured housing industry led to a 6% decline in total company revenues from $948 million to $891 million.

Sales growth for RVs slowed in the fourth quarter as revenues dipped slightly from $500 million to $498 million. Motorhome revenues of nearly $310 million were about 1% behind last year's comparable quarter. Sales were slightly improved for towable products as a result of higher volume for folding trailers. Travel trailer sales of $157 million were virtually identical to year ago sales, but folding trailers rose 7% to a record $31 million.

Fleetwood president Nelson W. Potter said, "Fourth quarter RV sales did not meet our expectations, mainly due to slower wholesale demand for motorhomes. Motorhome retail sales have not measured up to last year's strong fourth quarter, and this has given rise to a slowdown in factory shipments. We are seeing signs that motorhome retail inventories are relatively full as we enter the peak selling season. Consequently, we anticipate that factory shipments next quarter will depend entirely on retail sales."

Workhorse Beefs up Technician Training Program
Workhorse Custom Chassis has significantly expanded its technician training program, boosting its training personnel from 2 to 13 and increasing the number of training sites.

According to Workhorse, this will make technician training more accessible and cost-effective for Workhorse and non-Workhorse dealers in the United States and Canada.

Workhorse has divided the United States into 13 training regions and appointed a full time training representative in each region. Training sessions will take place in many settings within each region, with at least one location in each state. 

A permanent training center has also been established in Ontario, Canada, and training is planned for various locations across Canada.

The more than 100 training sites in North America include community colleges, dealerships and privately owned training facilities.

This enhanced delivery system is designed to minimize technician time away from service centers and reduce dealer costs. Sessions consist of small groups of technicians to ensure individualized attention. Training is "hands-on" in nature, giving technicians practical experience in servicing components.

The Workhorse dealer agreement requires three Workhorse courses for technicians: Electrical Circuits and Meters, Advanced Electronics, and Fuel System Diagnosis. Each course serves as a prerequisite to the next.

Following the three mandatory courses, technicians may take the Brake Systems and/or the Auto Transmission Electronics and Diagnosis course. Workhorse recommends technicians take both courses.

The five Workhorse courses are conducted as four-day programs. Workhorse has made a major commitment to technician training by offering classes at the reduced cost of $50 per day for technicians from Workhorse service centers. Classes are $125 a day for technicians from non-Workhorse service centers. Dealers are responsible for travel expenses.

Eleven Candidates Selected For RVIA's Board Elections
RVIA's Nominating Committee has selected eleven candidates who will be vying for six seats on the RVIA board of directors during the association's elections taking place in August.

Those running include Bob Lee, chairman of Country Coach, and Brian Shea, president of Gulf Stream, for a Motorhome seat and Virgil Miller, president of Newmar, and Cole Davis, president of Keystone RV, for a Towable seat.

Members will also elect four of the following seven candidates to fill At Large seats: Walt Bennett. senior vice president and CAO of Thor Industries; Roger Burrows, vice president of sales and marketing of Spartan Motors: Jay Hesse. president Automatic Equipment; Dave Lung, president and COO of Patrick Industries; Claire Skinner, chairman of Coachmen Industries; BJ Thompson, president of BJ Thompson Associates and John Willibrand, president of' Play-Mor Trailers.

The RVIA board of directors has the highest level of authority in the association's structure

All-Rite Announces Expanded Product Line
All-Rite, a supplier of repair parts to the RV aftermarket, says that the company has expanded its product line.

Among the new products being introduced is an expanded line of All-Rite windows such as angled picture and slider windows, square torque windows, square slider windows and square picture windows.

In addition to custom manufactured windows, All-Rite will now be manufacturing their own line of ladders. as well as offering custom sized holding tanks and skylights and an expanded line of auxiliary and direct replacement gas tanks.

This announcement comes in conjunction with the release of All-Rite's new 2000-2001 catalog.

Two State RV Shows Named to Top 200 Shows
The Pennsylvania RV & Cam-ping Show sponsored by the Pennsylvania RV and Camp-ground Association (PRVCA) and Florida RV Trade Association's (FRVTA) Florida RV SuperShow have been named to Tradeshow Week's top 200 largest trade shows in the United States.