Thursday, May 01, 2008
ALFA LEISURE HAS CLOSED IT'S DOORS
RV Business
May 1, 2008
Alfa Leisure Inc. has ceased operations at its headquarters in Ontario, Calif.
Several dealers that handle the company’s line of See Ya! Class A motorhomes and Alpha luxury fifth-wheels confirmed with RVBusiness they received notice the company had shut down. Other industry sources informed RVBusiness that the factory was closed and locked Wednesday (April 30).
Calls made to Alfa Leisure were unanswered and attempts to contact representatives at Los Angeles-based Nogales Investors, which acquired Alfa Leisure in 2005, were not returned.
On April 21, Alfa Leisure reported that it had secured property to build another manufacturing plant in Oregon’s Douglas County. At the time, Alfa said that Ontario would continue to be its headquarters.
Alfa is the latest Class A motorhome builder to close down as the sector is currently in its fourth year of declining sales.
Yakima, Wash.-based Western RV Inc., which is owned by private equity firm Monomoy Capital Partners, ceased operations on April 15. Travel Supreme Inc., Wakarusa, Ind., had suspended operations before forging a deal with Middlebury, Ind.-based Jayco Corp. in an asset buyout on April 4.
Several publicly-traded manufacturers have also reported lower performance in the early part of 2008, pulled down by depressed motorhome sales.
Alfa Leisure was established in 1973 by CEO Johnnie R. Crean, son of retired Fleetwood Industries Inc. founder and CEO John C. Crean who passed away in January of 2007.
May 1, 2008
Alfa Leisure Inc. has ceased operations at its headquarters in Ontario, Calif.
Several dealers that handle the company’s line of See Ya! Class A motorhomes and Alpha luxury fifth-wheels confirmed with RVBusiness they received notice the company had shut down. Other industry sources informed RVBusiness that the factory was closed and locked Wednesday (April 30).
Calls made to Alfa Leisure were unanswered and attempts to contact representatives at Los Angeles-based Nogales Investors, which acquired Alfa Leisure in 2005, were not returned.
On April 21, Alfa Leisure reported that it had secured property to build another manufacturing plant in Oregon’s Douglas County. At the time, Alfa said that Ontario would continue to be its headquarters.
Alfa is the latest Class A motorhome builder to close down as the sector is currently in its fourth year of declining sales.
Yakima, Wash.-based Western RV Inc., which is owned by private equity firm Monomoy Capital Partners, ceased operations on April 15. Travel Supreme Inc., Wakarusa, Ind., had suspended operations before forging a deal with Middlebury, Ind.-based Jayco Corp. in an asset buyout on April 4.
Several publicly-traded manufacturers have also reported lower performance in the early part of 2008, pulled down by depressed motorhome sales.
Alfa Leisure was established in 1973 by CEO Johnnie R. Crean, son of retired Fleetwood Industries Inc. founder and CEO John C. Crean who passed away in January of 2007.
Tuesday, April 29, 2008
FLEETWOOD SELLING IT'S FOLDING TRAILER DIVISION AND DOING OTHER THINGS TO GENERATE CASH
RV Business
Tuesday, April 29, 2008
Fleetwood Enterprises Inc. today (April 29) announced several developments and transactions, including the pending sale of its folding camping trailer division in Somerset, Pa.
In a statement, the Riverside, Calif.-based recreational vehicle and manufactured housing builder said all moves were related to the “anticipated retirement of $100 million aggregate principal amount of the company's 5% convertible senior subordinated debentures, which holders may put to the company on December 15.”
Fleetwood said it is exploring a range of transactions to generate additional funds for retiring the debentures, strengthening its balance sheet and maximizing shareholder value.
Transactions include:
• Fleetwood has signed a definitive agreement for the sale of Fleetwood Folding Trailers Inc. The company said that no further disclosure will be provided until either the sale closes or the transaction is terminated. Elden Smith, Fleetwood president and CEO, noted that the move allows Fleetwood to concentrate on the higher-volume RV and housing businesses, with a “particular emphasis on completing the turnaround of our travel trailer division.”
• Fleetwood announced that on April 10, it completed the sale of its 42.7-acre corporate campus in Riverside for a price of $23.5 million. The company has become a tenant and will lease about 20% of the complex. The location will continue to serve as the Fleetwood’s corporate headquarters.
• The company recently closed its two California-based supply manufacturing facilities and consolidated the remaining supply group businesses into its operating units. One facility was sold last week, generating almost $10 million in proceeds, while the other is being offered for sale.
• Fleetwood is deferring future payment of dividends on its 6% convertible subordinated debentures. The deferral will begin with the payment that would have been due on May 15.
• The lending syndicate for Fleetwood’s revolving line of credit and term loan, led by Bank of America as agent, has amended the credit agreement to help the builder reduce debt and improve liquidity.
• The company has the ability under an existing shelf registration statement to raise approximately $50 million from the issuance of common stock and expects to utilize at least $30 million of this availability.
"We remain fully committed to our core RV (motorhome and travel trailer) and housing businesses," Smith said. "We will continue to cut expenses, control overheads, and adjust the size of our businesses to reflect changes in these markets.
"…As soon as we have fully addressed the retirement of the debentures, we intend to aggressively pursue a strategy that will allow us to diversify and invest more in new markets and growth businesses, such as our military housing initiatives.”
Tuesday, April 29, 2008
Fleetwood Enterprises Inc. today (April 29) announced several developments and transactions, including the pending sale of its folding camping trailer division in Somerset, Pa.
In a statement, the Riverside, Calif.-based recreational vehicle and manufactured housing builder said all moves were related to the “anticipated retirement of $100 million aggregate principal amount of the company's 5% convertible senior subordinated debentures, which holders may put to the company on December 15.”
Fleetwood said it is exploring a range of transactions to generate additional funds for retiring the debentures, strengthening its balance sheet and maximizing shareholder value.
Transactions include:
• Fleetwood has signed a definitive agreement for the sale of Fleetwood Folding Trailers Inc. The company said that no further disclosure will be provided until either the sale closes or the transaction is terminated. Elden Smith, Fleetwood president and CEO, noted that the move allows Fleetwood to concentrate on the higher-volume RV and housing businesses, with a “particular emphasis on completing the turnaround of our travel trailer division.”
• Fleetwood announced that on April 10, it completed the sale of its 42.7-acre corporate campus in Riverside for a price of $23.5 million. The company has become a tenant and will lease about 20% of the complex. The location will continue to serve as the Fleetwood’s corporate headquarters.
• The company recently closed its two California-based supply manufacturing facilities and consolidated the remaining supply group businesses into its operating units. One facility was sold last week, generating almost $10 million in proceeds, while the other is being offered for sale.
• Fleetwood is deferring future payment of dividends on its 6% convertible subordinated debentures. The deferral will begin with the payment that would have been due on May 15.
• The lending syndicate for Fleetwood’s revolving line of credit and term loan, led by Bank of America as agent, has amended the credit agreement to help the builder reduce debt and improve liquidity.
• The company has the ability under an existing shelf registration statement to raise approximately $50 million from the issuance of common stock and expects to utilize at least $30 million of this availability.
"We remain fully committed to our core RV (motorhome and travel trailer) and housing businesses," Smith said. "We will continue to cut expenses, control overheads, and adjust the size of our businesses to reflect changes in these markets.
"…As soon as we have fully addressed the retirement of the debentures, we intend to aggressively pursue a strategy that will allow us to diversify and invest more in new markets and growth businesses, such as our military housing initiatives.”
RECALL: DOUBLETREE RV (ACTIBRAKE ACTUATOR)
Make / Models : Model/Build Years:
ACTIBRAKE / AB-1-14 9999
Manufacturer : ACTIVE TECHNOLOGY Mfr's Report Date : JAN 03, 2008
NHTSA CAMPAIGN ID Number : 08E007000 NHTSA Action Number: N/A
Component: SERVICE BRAKES, HYDRAULIC
Potential Number Of Units Affected : 359
Summary:
ACTIVE TECHNOLOGY IS WORKING WITH DOUBLETREE RV TO RECALL 359 ACTIBRAKE ELECTRIC-HYDRAULIC ACTUATOR, P/N AB-1-14, USED FOR HYDRAULIC DISC BRAKES INSTALLED AS ORIGINAL EQUIPMENT ON CERTAIN DOUBLETREE TRAILERS. THE TRAILER WIRING CONFIGURATION OF THE CIRCUIT BREAKER ALLOWS HIGH CURRENT TO BE CONTINUOUSLY APPLIED TO THE ACTIBRAKE EVEN AFTER THE TRAILER CIRCUIT BREAKER IS TRIPPED AND THE 30 AMP FUSE ON THE ACTIBRAKE IS BLOWN. THEREFORE THERE IS A SITUATION WHEREIN THE 50 AMP BREAKER IN THE TRAILER WIRING DOES NOT PROTECT THE ACTIBRAKE BATTERY CHARGER CIRCUIT FROM OVER-CURRENT.
Consequence:
TRAILER BRAKES ARE NOT OPERATIVE WITH AN INCAPACITATED BRAKE ACTUATOR. THIS SITUATION COULD POSSIBLY RESULT IN A VEHICLE CRASH.
Remedy:
ACTIVE TECHNOLOGY IS WORKING WITH DOUBLETREE TO NOTIFY OWNERS AND REPAIR THE TRAILERS FREE OF CHARGE. OWNERS SHOULD CONTACT DOUBLETREE FOR MORE INFORMATION. DOUBLETREE'S RECALL NO. IS 08V-040.
Notes:
CUSTOMERS MAY 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.
ACTIBRAKE / AB-1-14 9999
Manufacturer : ACTIVE TECHNOLOGY Mfr's Report Date : JAN 03, 2008
NHTSA CAMPAIGN ID Number : 08E007000 NHTSA Action Number: N/A
Component: SERVICE BRAKES, HYDRAULIC
Potential Number Of Units Affected : 359
Summary:
ACTIVE TECHNOLOGY IS WORKING WITH DOUBLETREE RV TO RECALL 359 ACTIBRAKE ELECTRIC-HYDRAULIC ACTUATOR, P/N AB-1-14, USED FOR HYDRAULIC DISC BRAKES INSTALLED AS ORIGINAL EQUIPMENT ON CERTAIN DOUBLETREE TRAILERS. THE TRAILER WIRING CONFIGURATION OF THE CIRCUIT BREAKER ALLOWS HIGH CURRENT TO BE CONTINUOUSLY APPLIED TO THE ACTIBRAKE EVEN AFTER THE TRAILER CIRCUIT BREAKER IS TRIPPED AND THE 30 AMP FUSE ON THE ACTIBRAKE IS BLOWN. THEREFORE THERE IS A SITUATION WHEREIN THE 50 AMP BREAKER IN THE TRAILER WIRING DOES NOT PROTECT THE ACTIBRAKE BATTERY CHARGER CIRCUIT FROM OVER-CURRENT.
Consequence:
TRAILER BRAKES ARE NOT OPERATIVE WITH AN INCAPACITATED BRAKE ACTUATOR. THIS SITUATION COULD POSSIBLY RESULT IN A VEHICLE CRASH.
Remedy:
ACTIVE TECHNOLOGY IS WORKING WITH DOUBLETREE TO NOTIFY OWNERS AND REPAIR THE TRAILERS FREE OF CHARGE. OWNERS SHOULD CONTACT DOUBLETREE FOR MORE INFORMATION. DOUBLETREE'S RECALL NO. IS 08V-040.
Notes:
CUSTOMERS MAY 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.
Monday, April 28, 2008
RECALL: 2007 MONACO (FUSE MISSING FOR INVERTER)
Make / Models : Model/Build Years:
MONACO COACH / MONARCH 2007
Manufacturer : MONACO COACH CORPORATION Mfr's Report Date : APR 15, 2008
NHTSA CAMPAIGN ID Number : 08V179000 NHTSA Action Number: N/A
Component: ELECTRICAL SYSTEM:FUSES AND CIRCUIT BREAKERS
Potential Number Of Units Affected : 811
Summary:
MONACO IS RECALLING 811 MONARCH, LAPALMA REAR GAS AND LAPALMA DIESEL, HOLIDAY RAMBLER ADMIRAL, VACATIONER REAR GAS AND VACATIONER DIESEL AND SAFARI SIMBA MOTOR HOMES WITH THE INVERTER OPTION. THE OPTIONAL INVERTER IS NOT PROTECTED BY A FUSE AS THE RESULT OF A PRODUCTION ERROR. THE FUSE SHOULD BE INSTALLED IN THE BATTERY COMPARTMENT IN THE REAR OF THE PASSENGER SIDE OF THE MOTOR HOME BETWEEN THE BATTERY SOURCE AND THE INVERTER. THE INVERTER IS TO BE A PROTECTED APPLIANCE BY CODE REQUIREMENT.
Consequence:
WITH NO FUSE INSTALLED, A VEHICLE FIRE MAY RESULT FROM FAILURE OF THE INVERTER.
Remedy:
DEALERS WILL INSTALL A 125AMP FUSE TO PROTECT THE INVERTER FREE OF CHARGE. THE RECALL IS EXPECTED TO BEGIN ON OR BEFORE MAY 15, 2008. OWNERS MAY CONTACT MONACO AT 1-800-685-6545.
Notes:
MONACO RECALL NO. R08001. 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.
MONACO COACH / MONARCH 2007
Manufacturer : MONACO COACH CORPORATION Mfr's Report Date : APR 15, 2008
NHTSA CAMPAIGN ID Number : 08V179000 NHTSA Action Number: N/A
Component: ELECTRICAL SYSTEM:FUSES AND CIRCUIT BREAKERS
Potential Number Of Units Affected : 811
Summary:
MONACO IS RECALLING 811 MONARCH, LAPALMA REAR GAS AND LAPALMA DIESEL, HOLIDAY RAMBLER ADMIRAL, VACATIONER REAR GAS AND VACATIONER DIESEL AND SAFARI SIMBA MOTOR HOMES WITH THE INVERTER OPTION. THE OPTIONAL INVERTER IS NOT PROTECTED BY A FUSE AS THE RESULT OF A PRODUCTION ERROR. THE FUSE SHOULD BE INSTALLED IN THE BATTERY COMPARTMENT IN THE REAR OF THE PASSENGER SIDE OF THE MOTOR HOME BETWEEN THE BATTERY SOURCE AND THE INVERTER. THE INVERTER IS TO BE A PROTECTED APPLIANCE BY CODE REQUIREMENT.
Consequence:
WITH NO FUSE INSTALLED, A VEHICLE FIRE MAY RESULT FROM FAILURE OF THE INVERTER.
Remedy:
DEALERS WILL INSTALL A 125AMP FUSE TO PROTECT THE INVERTER FREE OF CHARGE. THE RECALL IS EXPECTED TO BEGIN ON OR BEFORE MAY 15, 2008. OWNERS MAY CONTACT MONACO AT 1-800-685-6545.
Notes:
MONACO RECALL NO. R08001. 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: 2008/2009 FOURWINDS (PROPANE LINE AT SLIDEROOM)
Make / Models : Model/Build Years:
FOUR WINDS / CHATEAU SPORT 2008-2009
FOUR WINDS / DUTCHMEN EXPRESS 2008-2009
FOUR WINDS / FOUR WINDS 5000 2008-2009
Manufacturer : FOUR WINDS INTERNATIONAL Mfr's Report Date : APR 24, 2008
NHTSA CAMPAIGN ID Number : 08V189000 NHTSA Action Number: N/A
Component: EQUIPMENT:RECREATIONAL VEHICLE:LPG LINES AND FITTINGS
Potential Number Of Units Affected : 104
Summary:
FOUR WINDS IS RECALLING 104 MY 2008-2009 DUTCHMEN EXPRESS, CHATEAU SPORT, AND FOUR WINDS 5000 MOTOR HOMES. THESE MOTOR HOMES MAY HAVE IMPROPER ROUTING OF THE PROPANE GAS LINE WITHIN THE SLIDE-OUT ROOM.
Consequence:
CONTINUED OPERATION OF THE SLIDE-ROOM MAY RESULT IN A RUPTURE OF THIS PROPANE SUPPLY LINE POTENTIALLY CAUSING A GAS LEAK, FIR OR EXPLOSION RESULTING IN SERIOUS INJURY OR DEATH.
Remedy:
FOUR WINDS WILL INSTRUCT OWNERS TO IMMEDIATELY TURN OFF THE PROPANE SUPPLY VALVE, SUSPEND USE OF PROPANE APPLIANCES, AND TAKE THE MOTOR HOME TO THEIR NEAREST FOUR WINDS DEALER OR SERVICE CENTER FOR REPAIR. DEALERS WILL RECONFIGURE THE PROPANE SUPPLY LINE TO ALLOW PROPER MOVEMENT OF THE LINE WITHOUT BINDING OR CHAFING. THE MANUFACTURER HAS NOT YET PROVIDED AN OWNER NOTIFICATION SCHEDULE FOR THIS CAMPAIGN. OWNERS MAY CONTACT FOUR WINDS AT 1-574-266-1111.
Notes:
CUSTOMERS MAY 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.
FOUR WINDS / CHATEAU SPORT 2008-2009
FOUR WINDS / DUTCHMEN EXPRESS 2008-2009
FOUR WINDS / FOUR WINDS 5000 2008-2009
Manufacturer : FOUR WINDS INTERNATIONAL Mfr's Report Date : APR 24, 2008
NHTSA CAMPAIGN ID Number : 08V189000 NHTSA Action Number: N/A
Component: EQUIPMENT:RECREATIONAL VEHICLE:LPG LINES AND FITTINGS
Potential Number Of Units Affected : 104
Summary:
FOUR WINDS IS RECALLING 104 MY 2008-2009 DUTCHMEN EXPRESS, CHATEAU SPORT, AND FOUR WINDS 5000 MOTOR HOMES. THESE MOTOR HOMES MAY HAVE IMPROPER ROUTING OF THE PROPANE GAS LINE WITHIN THE SLIDE-OUT ROOM.
Consequence:
CONTINUED OPERATION OF THE SLIDE-ROOM MAY RESULT IN A RUPTURE OF THIS PROPANE SUPPLY LINE POTENTIALLY CAUSING A GAS LEAK, FIR OR EXPLOSION RESULTING IN SERIOUS INJURY OR DEATH.
Remedy:
FOUR WINDS WILL INSTRUCT OWNERS TO IMMEDIATELY TURN OFF THE PROPANE SUPPLY VALVE, SUSPEND USE OF PROPANE APPLIANCES, AND TAKE THE MOTOR HOME TO THEIR NEAREST FOUR WINDS DEALER OR SERVICE CENTER FOR REPAIR. DEALERS WILL RECONFIGURE THE PROPANE SUPPLY LINE TO ALLOW PROPER MOVEMENT OF THE LINE WITHOUT BINDING OR CHAFING. THE MANUFACTURER HAS NOT YET PROVIDED AN OWNER NOTIFICATION SCHEDULE FOR THIS CAMPAIGN. OWNERS MAY CONTACT FOUR WINDS AT 1-574-266-1111.
Notes:
CUSTOMERS MAY 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.
