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LOAD HOG INDUSTRIES PARTNERS WITH FORD MOTOR COMPANY IN VALUE PARTICIPATION AGREEMENT
by
Anonymous
ALIQUIPPA, PA.;DEARBORN, MI. AUGUST 23, 2002
LOAD HOG INDUSTRIES TODAY ANNOUNCED THE COMPLETION OF A VALUE PARTICIPATION AGREEMENT WITH FORD MOTOR COMPANY, WHEREBY, UPON MEETING FORD QUALITY GUIDELINES, FORD WILL TEAM LOAD HOG WITH AFTERMARKET MODIFIERS TO OFFER LOAD HOG PRODUCTS. LOAD HOG'S PRIMARY PRODUCT IS A KIT THAT, UPON INSTALLATION, RAISES THE BED OF A PICKUP TRUCK, TURNING THE VEHICLE INTO A DUMP TRUCK. UNDER THE TERMS OF THE AGREEMENT, FORD WILL HAVE THE RIGHT TO ACQUIRE WARRANTS TO PURCHASE COMMON STOCK OF LOAD HOG INDUSTRIES.
"THIS AGREEMENT RECOGNIZES NOT ONLY THE INNOVATION AND ENVIRONMENTAL SENSITIVITY OF THE LOAD HOG PRODUCT LINE, BUT ALSO THE SIGNIFICANT ECONOMIC UPSIDE OF THEIR UNIQUE TECHNOLOGY," SAID LEO SHEDDEN, DIRECTOR OF TRUCK VEHICLE PROGRAMS, FORD MOTOR COMPANY. "THE FACT THAT LOAD HOG HAS ALREADY DEVELOPED VERSIONS OF ITS PRODUCT TO FIT FORD PLATFORMS WAS JUST MORE MOTIVATION FOR US TO PARTNER WITH LOAD HOG."
"FORD'S INVOLVEMENT WILL ALLOW US TO GO TO THE NEXT LEVEL BOTH TECHNICALLY AND ECONOMICALLY" SAID LOAD HOG'S PRESIDENT, JOHN KOWALSKI. "WITH FORD'S ONE HUNDRED YEARS OF TECHNICAL BACKGROUND AND ITS LEADERSHIP POSITION IN TRUCKS WORLDWIDE, WE LOOK FORWARD TO STRENGHTENING BOTH OUR DEVELOPMENTAL AND COMPETITIVE POSITIONS" KOWALSKI SAID.
LOAD HOG INDUSTRIES IS THE PRODUCER OF A PATENTED PNEUMATIC SYSTEM WHICH ALLOWS PICKUP TRUCKS TO BE UTILIZED AS DUMP TRUCKS. FORD MOTOR COMPANY IS THE WORLD'S LARGEST MANUFACTURER OF PICKUP TRUCKS.
This article courtesy of http://www.heavy-tractor.com.
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