SOURCE: Latitude Industries, Inc.

July 18, 2007 08:00 ET

LTDI Breaking News: Latitude Industries Working With GE Capital to Offer Floor Plan Financing

MIAMI, FL--(Marketwire - July 18, 2007) - Latitude Industries Inc. (PINKSHEETS: LTDI), a manufacturer of high-performance, center console powerboats, announces today that it is completing all the necessary steps and requirements to offer floor plan financing through GE Commercial Distribution Finance to boat dealers nationwide.

"Once again we are pushing to expand our presence in these competitive markets and be able to offer our product to more than 12,000 marine dealers with more than $35 Billion in sales nationwide," said Carolina Hernandez, President and CEO of Latitude Powerboats.

GE Commercial Distribution Finance (CDF) is a leading provider of inventory financing programs that assist in moving products from manufacturers and distributors to dealers and resellers. CDF's specialized inventory finance programs make it possible for dealers to stock sufficient inventory for their businesses at minimal carrying costs.

By taking care of the up-front inventory costs, CDF enables the dealer to purchase needed inventory and pay as the product is sold.

About Latitude Industries

Latitude Industries is a manufacturer of high-quality, offshore sport fishing boats. The company's boats fuse innovative design with advanced light-weight composite materials that resist rot and decay and retain buoyancy under all conditions. Hand-laid fiberglass hulls offer the best of old world craftsmanship and new world technology. In addition, the company enhances the safety of its boats by using the latest lamination technology, creating a sturdy and durable hull that can handle the toughest sea conditions. Latitude Industries employs craftsmen with decades of industry experience at its headquarters in South Florida, the sport fishing capital of the world.

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Forward-Looking Statements

This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

Contact Information

  • Contact:
    Carolina Hernandez
    President and CEO
    Ph: 305-758-BOAT (2628)