SAN CLEMENTE, Calif., March 8, 2006 (PRIMEZONE) -- Patriot Motor Corporation (Pink Sheets:PMCY), parent company of Patriot Marine Industries, today announced completion of the first hull in its new line of leisure powerboats.
A photo accompanying this release is available at: http://www.primezone.com/newsroom/prs/?pkgid=2432
Patriot Marine Industries -- under the guidance of division president Raymond Wedel and famed boat designer Art Carlson -- has begun production of the first of its comprehensive line of newly designed recreational watercraft that will range in size from 22 to 41 feet in a wide variety of popular cruising, fishing and performance configurations.
"Our new, patented VCX hydrodynamic hull technology is extremely exciting," notes Art Carlson, Director of Boat Design for Patriot Marine Industries. "It has been in development for over a decade...and together with our new aerodynamic deck designs, we are introducing powerboat concepts, both above and below the waterline, destined to impact the industry."
Continually poised on the cutting edge, Carlson has been a renowned pioneer in designing, styling and building some of the most popular and famous boats in history. In the late 1950s, he combined fiberglass technology with daring new hull concepts that launched the famed "Tunnel Hull" design and world-famous lines of Carlson High-Performance and Glastron/Carlson sport boats. Today, the Carlson name is internationally known and synonymous with the sleek beauty, high- performance and extreme quality that truly revolutionized the entire professional and recreational marine industry.
In 2005, Art Carlson joined Patriot Motor Corporation as the Director of Boat Design. He started by designing his largest craft ever, combining aerodynamic and hydrodynamic principles with groundbreaking visual imagery intended to take recreational boating to new levels of performance and excitement.
Carlson's decades of fame and expertise also include various cooperative efforts and ventures with Patriot Marine Division President Raymond Wedel -- a marine industry legend in his own right. In addition to having been a driver, throttle man or race team member in over 200 marine racing events and helping to win numerous national races, national titles and world championships, he has over three decades experience in senior management for design, engineering, R&D, marketing and manufacturing companies, both domestic and international, for complex products in advanced combustion engines and components, and the automotive, RV and marine industries -- some with annual sales well in excess of $1 billion dollars.
Together, Wedel, Carlson and the newly formed Patriot Marine Industries division have set their sights on revolutionizing the rapidly growing $13.2 billion domestic recreational boating industry -- and penetrating the even more mammoth international pleasure craft markets -- with "new concept" watercraft designed to set a host of elevated standards ranging from ultra safety, precise handling and increased fuel economy to impeccable style, luxurious appointments and unparalleled performance.
The new Patriot Marine line for 2007 is slated to be introduced in the summer of 2006. The 33- and 24-foot models (featuring the new VCX hull design) lead the launch -- and dealers are already expressing a high degree of interest in taking on the new line as soon as it is ready and available.
"We are extremely proud of our new Patriot Marine division. First, for its ability to attract such seasoned veterans of the marine industry and talented individuals who have accomplished so much in such a short amount of time," notes Patriot Motor Corporation CEO, Michel Attias. "Under normal circumstances, the design and development of a new line of powerboats such as this...would have taken many years and millions of dollars to complete. Instead, it was done in a matter of months...thanks to Patriot's ability to attract and assemble such an incredibly talented, experienced and reknown team of recognized professionals."
"We have assembled everything we need," Attias adds, "to quickly capture a substantial share of the recreational boating market."
About Patriot Motor Corporation
Patriot Motor Corporation (PMCY) is the parent company of Patriot Motorcycle Corporation -- exclusive distributor of the Patriot OffRoad(TM) line of Dirt Bike motorcycles and All-Terrain Vehicles (ATVs) and a line of domestic V-Twin custom and production street bikes branded under the names Steed(R) by Patriot(TM) 300 Series and Patriot(TM) V-Twin Musclebikes(TM) 200 Series.
Other divisions include Patriot Marine Industries -- performance watercraft design and engineering -- and Patriot Productions, which produces the nationally syndicated weekly television show "Steel Dreams," currently reaching 75 million households. The company and its management are firmly committed to building the Patriot(TM) brand, to building a significant and substantial domestic and international dealer organization and to distributing the finest products that consistently challenge and/or out-price competitors by as much as 50%. Additional Patriot branded products and accessories are also being continually evaluated and offered. For more information visit www.patriotmotorcorp.com and www.steeldreams.tv .
Note: Statements contained in this release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1934, as amended. These forward-looking statements are made based upon information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include, but are no limited to, demand for the company's products and services, Patriot Motor Corporation's (PMCY) ability to continue to develop its market, general economic conditions and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
The Patriot Motor Corporation logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=2159
