Thursday, December 28, 2006
NATIONAL RV ANNOUNCES SALE OF PROPERTY AND LEASE-BACK AGREEMENT
PERRIS, Calif., Dec. 28 /PRNewswire-FirstCall/ -- National R.V. Holdings, Inc. (NYSE: NVH - News), the owner of leading RV manufacturers National RV, Inc. and Country Coach, Inc., today announced that it has entered into a new agreement to sell and leaseback its Perris, California property to First Industrial Acquisitions, Inc. ("First Industrial"). First Industrial is an affiliate of First Industrial Realty Trust, Inc., a national provider of diversified industrial real estate. The previous agreement entered into on November 22nd with Warrior Holdings, Inc. was terminated on December 20th due to Warrior's inability to obtain a timely financing commitment from its lender.
Under the terms of this new agreement, which contains no third-party financing contingencies, the sales price is $31.75 million, and calls for the Company to enter into a 10-year, triple-net lease with approximately $2.7 million in annual lease payments, which increase 3% per year. The lease will include two 5-year renewal options. The agreement provides for customary closing conditions, including a due diligence period by the buyer through February 9, 2007 with closing scheduled to occur on February 15, 2007.
Under the terms of this new agreement, which contains no third-party financing contingencies, the sales price is $31.75 million, and calls for the Company to enter into a 10-year, triple-net lease with approximately $2.7 million in annual lease payments, which increase 3% per year. The lease will include two 5-year renewal options. The agreement provides for customary closing conditions, including a due diligence period by the buyer through February 9, 2007 with closing scheduled to occur on February 15, 2007.
RECALL
Make / Models : Model/Build Years:
CROSSROADS / SUNSET TRAIL 2006
CROSSROADS / ZINGER 2006
Manufacturer : CROSSROADS RV
NHTSA CAMPAIGN ID Number : 06V475000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:SPINDLE
Potential Number Of Units Affected : 166
Summary:
ON CERTAIN FIFTH WHEEL AND TRAVEL TRAILERS EQUIPPED WITH LIPPERT AXLES, DUE TO MISLOCATED SPINDLE WELDS, THE SPINDLE MAY PARTIALLY OR COMPLETELY SEPARATE FROM THE AXLE TUBE AND THE WHEEL AND HUB ASSEMBLY MAY COME OFF THE VEHICLE.
Consequence:
SUDDEN AXLE FAILURE COULD RESULT IN A VEHICLE CRASH.
Remedy:
LIPPERT IS CONDUCTING THIS RECALL AND WILL INSPECT FOR MISLOCATED WELDS AND REPLACE THE AXLE IF NECESSARY (PLEASE SEE 06E-095). OWNERS SHOULD CONTACT LIPPERT AT 1-877-870-4900 OR CROSSROADS AT 260-593-2866.
Notes:
CUSTOMERS MAY ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
CROSSROADS / SUNSET TRAIL 2006
CROSSROADS / ZINGER 2006
Manufacturer : CROSSROADS RV
NHTSA CAMPAIGN ID Number : 06V475000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:SPINDLE
Potential Number Of Units Affected : 166
Summary:
ON CERTAIN FIFTH WHEEL AND TRAVEL TRAILERS EQUIPPED WITH LIPPERT AXLES, DUE TO MISLOCATED SPINDLE WELDS, THE SPINDLE MAY PARTIALLY OR COMPLETELY SEPARATE FROM THE AXLE TUBE AND THE WHEEL AND HUB ASSEMBLY MAY COME OFF THE VEHICLE.
Consequence:
SUDDEN AXLE FAILURE COULD RESULT IN A VEHICLE CRASH.
Remedy:
LIPPERT IS CONDUCTING THIS RECALL AND WILL INSPECT FOR MISLOCATED WELDS AND REPLACE THE AXLE IF NECESSARY (PLEASE SEE 06E-095). OWNERS SHOULD CONTACT LIPPERT AT 1-877-870-4900 OR CROSSROADS AT 260-593-2866.
Notes:
CUSTOMERS MAY ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
RECALL
Make / Models : Model/Build Years:
SUNNYBROOK / TITAN 2006
Manufacturer : SUNNYBROOK RV INC.
NHTSA CAMPAIGN ID Number : 06V482000 Mfg's Report Date : NOV 08, 2006
Component: FUEL SYSTEM, GASOLINE:DELIVERY:FUEL PUMP
Potential Number Of Units Affected : 87
Summary:
ON CERTAIN FIFTH WHEEL TRAVEL TRAILERS EQUIPPED WITH GREAT PLAINS FUEL PUMPS, DUE TO INSUFFICIENT EPOXY ADHESIVE APPLIED AT THE TIME OF INSTALLATION AT THE FACTORY, A FUEL LEAK CAN OCCUR AT THE PUMP'S INLET VALVE.
Consequence:
IN THE PRESENCE OF AN IGNITION SOURCE, A FIRE CAN OCCUR.
Remedy:
SUNNYBROOK RV IS WORKING WITH GPI TO HAVE THE FUEL PUMPS REPLACED (PLEASE SEE 06E-016). OWNERS MAY CONTACT GPI AT 1-316-686-7361 OR SUNNYBROOK RV AT 1-574-825-5250.
Notes:
CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
SUNNYBROOK / TITAN 2006
Manufacturer : SUNNYBROOK RV INC.
NHTSA CAMPAIGN ID Number : 06V482000 Mfg's Report Date : NOV 08, 2006
Component: FUEL SYSTEM, GASOLINE:DELIVERY:FUEL PUMP
Potential Number Of Units Affected : 87
Summary:
ON CERTAIN FIFTH WHEEL TRAVEL TRAILERS EQUIPPED WITH GREAT PLAINS FUEL PUMPS, DUE TO INSUFFICIENT EPOXY ADHESIVE APPLIED AT THE TIME OF INSTALLATION AT THE FACTORY, A FUEL LEAK CAN OCCUR AT THE PUMP'S INLET VALVE.
Consequence:
IN THE PRESENCE OF AN IGNITION SOURCE, A FIRE CAN OCCUR.
Remedy:
SUNNYBROOK RV IS WORKING WITH GPI TO HAVE THE FUEL PUMPS REPLACED (PLEASE SEE 06E-016). OWNERS MAY CONTACT GPI AT 1-316-686-7361 OR SUNNYBROOK RV AT 1-574-825-5250.
Notes:
CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
RECALL
Make / Models : Model/Build Years:
MCI / 102D3 1997-2006
MCI / 102DL3 1997-2006
MCI / 102DL3SS 1997-2006
MCI / D4000 1997-2006
MCI / D4500 1997-2006
Manufacturer : MOTOR COACH INDUSTRIES, INC
NHTSA CAMPAIGN ID Number : 06V481000 Mfg's Report Date : DEC 05, 2006
Component: ELECTRICAL SYSTEM:BATTERY
Potential Number Of Units Affected : 1617
Summary:
ON CERTAIN MOTOR COACHES, THE BOOST CONNECTOR HOUSING CAN FAIL OVER TIME, EXPOSING THE POSITIVE AND NEGATIVE TERMINALS.
Consequence:
THIS COULD RESULT IN THE GROUNDING OF AN UNPROTECTED CIRCUIT AND COULD LEAD TO A THERMAL EVENT IF NOT CORRECTED.
Remedy:
CUSTOMERS ARE BEING ADVISED TO REMOVE THE BOOST CONNECTOR AND DISCARD IT. CUSTOMERS WILL BE OFFERED A NEW DESIGN BOOST CONNECTOR AS AN ALTERNATIVE AT NO COST. THE RECALL IS EXPECTED TO BEGIN DURING JANUARY 2007. OWNERS MAY CONTACT MCI AT 1-800-241-2947.
Notes:
MCI RECALL NO. 274. CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
MCI / 102D3 1997-2006
MCI / 102DL3 1997-2006
MCI / 102DL3SS 1997-2006
MCI / D4000 1997-2006
MCI / D4500 1997-2006
Manufacturer : MOTOR COACH INDUSTRIES, INC
NHTSA CAMPAIGN ID Number : 06V481000 Mfg's Report Date : DEC 05, 2006
Component: ELECTRICAL SYSTEM:BATTERY
Potential Number Of Units Affected : 1617
Summary:
ON CERTAIN MOTOR COACHES, THE BOOST CONNECTOR HOUSING CAN FAIL OVER TIME, EXPOSING THE POSITIVE AND NEGATIVE TERMINALS.
Consequence:
THIS COULD RESULT IN THE GROUNDING OF AN UNPROTECTED CIRCUIT AND COULD LEAD TO A THERMAL EVENT IF NOT CORRECTED.
Remedy:
CUSTOMERS ARE BEING ADVISED TO REMOVE THE BOOST CONNECTOR AND DISCARD IT. CUSTOMERS WILL BE OFFERED A NEW DESIGN BOOST CONNECTOR AS AN ALTERNATIVE AT NO COST. THE RECALL IS EXPECTED TO BEGIN DURING JANUARY 2007. OWNERS MAY CONTACT MCI AT 1-800-241-2947.
Notes:
MCI RECALL NO. 274. CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
RECALL
Make / Models : Model/Build Years:
MCI / D4500 2005
MCI / D4505 2006-2007
Manufacturer : MOTOR COACH INDUSTRIES, INC
NHTSA CAMPAIGN ID Number : 06V480000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:NON-POWERED AXLE ASSEMBLY
Potential Number Of Units Affected : 75
Summary:
ON CERTAIN D SERIES COACHES, THERE COULD BE A POSSIBLE INTERFERENCE BETWEEN THE DRIVE SHAFT MOUNTING HARDWARE AND THE TAG AXLE STRUCTURE.
Consequence:
THE BEARING CAP BOLTS COULD SHEAR, FREEING THE BEARINGS, AND POSSIBLY RELEASING THE DRIVE SHAFT, INCREASING THE RISK OF A CRASH.
Remedy:
SHIMS WILL BE INSTALLED ABOVE THE TAG AXLE AIR SPRING MOUNTING BRACKETS TO LIMIT THE SUSPENSION TRAVEL. THE RECALL IS EXPECTED TO BEGIN DURING JANUARY 2007. OWNERS MAY CONTACT MCI AT 1-800-241-2947.
Notes:
MCI RECALL NO. 276 & 277. CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
MCI / D4500 2005
MCI / D4505 2006-2007
Manufacturer : MOTOR COACH INDUSTRIES, INC
NHTSA CAMPAIGN ID Number : 06V480000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:NON-POWERED AXLE ASSEMBLY
Potential Number Of Units Affected : 75
Summary:
ON CERTAIN D SERIES COACHES, THERE COULD BE A POSSIBLE INTERFERENCE BETWEEN THE DRIVE SHAFT MOUNTING HARDWARE AND THE TAG AXLE STRUCTURE.
Consequence:
THE BEARING CAP BOLTS COULD SHEAR, FREEING THE BEARINGS, AND POSSIBLY RELEASING THE DRIVE SHAFT, INCREASING THE RISK OF A CRASH.
Remedy:
SHIMS WILL BE INSTALLED ABOVE THE TAG AXLE AIR SPRING MOUNTING BRACKETS TO LIMIT THE SUSPENSION TRAVEL. THE RECALL IS EXPECTED TO BEGIN DURING JANUARY 2007. OWNERS MAY CONTACT MCI AT 1-800-241-2947.
Notes:
MCI RECALL NO. 276 & 277. CUSTOMERS CAN ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
RECALL
Make / Models : Model/Build Years:
CROSSROADS / SUNSET TRAIL 2006
CROSSROADS / ZINGER 2006
Manufacturer : CROSSROADS RV
NHTSA CAMPAIGN ID Number : 06V475000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:SPINDLE
Potential Number Of Units Affected : 166
Summary:
ON CERTAIN FIFTH WHEEL AND TRAVEL TRAILERS EQUIPPED WITH LIPPERT AXLES, DUE TO MISLOCATED SPINDLE WELDS, THE SPINDLE MAY PARTIALLY OR COMPLETELY SEPARATE FROM THE AXLE TUBE AND THE WHEEL AND HUB ASSEMBLY MAY COME OFF THE VEHICLE.
Consequence:
SUDDEN AXLE FAILURE COULD RESULT IN A VEHICLE CRASH.
Remedy:
LIPPERT IS CONDUCTING THIS RECALL AND WILL INSPECT FOR MISLOCATED WELDS AND REPLACE THE AXLE IF NECESSARY (PLEASE SEE 06E-095). OWNERS SHOULD CONTACT LIPPERT AT 1-877-870-4900 OR CROSSROADS AT 260-593-2866.
Notes:
CUSTOMERS MAY ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
CROSSROADS / SUNSET TRAIL 2006
CROSSROADS / ZINGER 2006
Manufacturer : CROSSROADS RV
NHTSA CAMPAIGN ID Number : 06V475000 Mfg's Report Date : DEC 14, 2006
Component: SUSPENSION:REAR:AXLE:SPINDLE
Potential Number Of Units Affected : 166
Summary:
ON CERTAIN FIFTH WHEEL AND TRAVEL TRAILERS EQUIPPED WITH LIPPERT AXLES, DUE TO MISLOCATED SPINDLE WELDS, THE SPINDLE MAY PARTIALLY OR COMPLETELY SEPARATE FROM THE AXLE TUBE AND THE WHEEL AND HUB ASSEMBLY MAY COME OFF THE VEHICLE.
Consequence:
SUDDEN AXLE FAILURE COULD RESULT IN A VEHICLE CRASH.
Remedy:
LIPPERT IS CONDUCTING THIS RECALL AND WILL INSPECT FOR MISLOCATED WELDS AND REPLACE THE AXLE IF NECESSARY (PLEASE SEE 06E-095). OWNERS SHOULD CONTACT LIPPERT AT 1-877-870-4900 OR CROSSROADS AT 260-593-2866.
Notes:
CUSTOMERS MAY ALSO CONTACT THE NATIONAL HIGHWAY TRAFFIC SAFETY ADMINISTRATION’S VEHICLE SAFETY HOTLINE AT 1-888-327-4236 (TTY 1-800-424-9153), OR GO TO HTTP://WWW.SAFERCAR.GOV.
