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Non-Tech : CYCY - Cycle Country Accessories Corporation

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To: jmhollen who started this subject9/30/2002 10:37:34 AM
From: jmhollen   of 29
 
Cycle Country Announces Groundbreaking for New 28,000 Sq. Ft. Expansion to their Existing Plant Facilities in Iowa

MILFORD, Iowa--(BUSINESS WIRE)--Sept. 30, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company held the official groundbreaking ceremony for a new 28,000 square foot expansion of their multi-operational facilities on Friday, September 27, 2002. Several board members, the Company's executive management and all Cycle Country employees attended the event.


The new construction, which is slated for completion by January 1st, 2003, will expand all vital plant areas including manufacturing, production, shipping and warehouse operations. The Company has been experiencing nearly full capacity production levels throughout much of the last quarter. This has been attributed to stronger demand for Cycle Country's existing products, new product introductions and greater distribution for several products from the Company's two recent acquisitions.

The Company has sufficient land available for further expansion in the years ahead and plans to continue to take advantage of their strategic location for national distribution at the intersection of two major highways. The location at Highway 71 and 86 in Northwest Iowa facilitates the Company's complete operations including the executive offices and all manufacturing, production, shipping and warehouses. The recent groundbreaking for additional space follows their last construction expansion in January 1997.

Cycle Country president, Ron Hickman stated: "The successful completion of this sizable expansion will allows us to maximize further growth plans and allow us to consider additional acquisitions too. Solid demand for our new or improved ATV accessory products should continue to keep us at high production levels. We continue to ramp-up production for lawn & garden products from our most recent acquisition of Weekend Warrior. Further, our Wheel Covers segment and premium oil filters from our Perf-form Products acquisition continue to show amazing growth."

About Cycle Country Accessories Corp.

Cycle Country, www.cyclecountry.com, with over 50% of the worldwide market in several product categories, is the industry leader in the design, engineering and manufacturing of custom-fitting accessories for the utility all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with recreational accessories. The Company's products custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.

The Company has also developed 19 international distributors that have sold Cycle Country products in 40 countries throughout Asia, Europe, Central and South America. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide. Cycle Country also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. With Cycle Country's most recent acquisition of Weekend Warrior and their superior garden equipment attachments for Trailers and ATVs, Cycle Country has begun marketing heavy-duty farm equipment for the Lawn & Garden market.

For the complete 10-QSB filing, go to the company's website at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group via e-mail to CYCY@veritascap.com or phone 407/444-5959 from 9 a.m. until 5 p.m. (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 - Milford, Iowa 51351 -- 800/841-2222.

CONTACT: Heritage First Capital & Equity Research Group
Scott Gibson, 407/444-5959
CYCY@veritascap.com

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