Categoría: Marco carvajal

AUBURN HILLS, Mich., Feb. 26, 2021 /PRNewswire/ — Jeep® Grand Cherokee L is expanding into the three-row, full-size SUV segment with an all-new architecture, all-new interior, three Jeep 4×4 systems, the most advanced, high-tech safety and security features in its class and segment-leading advanced technologies. The all-new 2021 Jeep Grand Cherokee L ushers in an unmatched combination of even more legendary 4×4 capability, superior on-road refinement, plus premium styling and craftsmanship all at a starting U.S. manufacturer’s suggested retail price (MSRP) of $36,995. 

• Starting prices now available for the all-new 2021 Jeep® Grand Cherokee L lineup, which includes Laredo, Limited, Overland and Summit models
• The 2021 Jeep Grand Cherokee L, the first ever three-row Grand Cherokee, starts at a U.S. manufacturer’s suggested retail price (MSRP) of $36,995 (all prices exclude $1,695 destination)
• Laredo model has a starting U.S. MSRP of $36,995 and features a host of new standard safety features, including adaptive cruise control and Blind-spot Monitoring, all-new LED exterior lighting, leather-wrapped steering wheel with audio controls, new «tip and slide» second-row seats, an impressive 10.25-inch frameless digital driver cluster with customizable menu options and the new Uconnect 5, the most advanced Uconnect system ever
• Limited model has a starting U.S. MSRP of $43,995 and adds premium features, including Capri leather seats, heated steering wheel, standard heated seats in the first two rows, remote start and a new power liftgate with adjustable height
• Overland model has a starting U.S. MSRP of $52,995, 4×4 models add the Jeep Quadra-Trac II system, with features that include a unique Overland appearance, Nappa leather seats and door panels, standard ventilated front seats, Uconnect 5 with premium navigation, new ambient LED lighting with a five-color selection, new length-adjustable front-row cushions, hands-free foot-activated power liftgate and dual-pane sunroof; available Trail Rated Off-Road Group on 4×4 Overland model adds high-strength steel skid plates, electronic limited slip differential rear axle, 18-inch wheels and all-season tires
• Summit model has a starting U.S. MSRP of $56,995 and is the peak of capability and luxury with standard premium amenities and features, including premium quilted Nappa leather seats, Absolute Oak wood and leather-wrapped multifunctional steering wheel, 16-way adjustable front-row seats with memory, lumbar and seat back massage, unique Summit-specific LED fog lamps and additional safety features, such as Active Driving Assist, drowsy driver detection and a 360-degree surround view camera, are also standard
• Summit Reserve, with a starting U.S. MSRP of $61,995, sets the benchmark for luxury with its hand-wrapped, quilted Palermo leather, open-pore Waxed Walnut wood, ventilated second-row seats, 21-inch wheels and standard premium amenities, including a premium 950-watt, 19-speaker McIntosh audio sound system
• Jeep Grand Cherokee L is equipped with more than 110 advanced safety and security features, including ample standard equipment along with available driver-assist systems and 360-degree surround view and night vision cameras
• Next-generation technologies include Uconnect 5 with standard wireless Apple CarPlay and Android Auto, windshield Head-up Display (HUD), digital rearview mirror, frameless digital cluster, rear seat monitoring camera and premium 950-watt, 19-speaker McIntosh audio sound system
• Jeep Wave customer service program comes standard with all new Grand Cherokee L models and includes premium benefits, such as worry-free maintenance, same-day vehicle rentals, 24/7 roadside assistance and dedicated owner support
• Jeep Grand Cherokee is the most awarded SUV ever with more than 700 global honors and industry accolades that span across four groundbreaking generations of the vehicle
• 2021 Jeep Grand Cherokee L will be built at the new Detroit Assembly Complex – Mack Plant, with vehicles scheduled to start arriving in dealerships in the second quarter of 2021
• The all-new Jeep Grand Cherokee two-row and its 4xe electrified version are scheduled to debut later this year

«For 80 years, the Jeep brand has consistently introduced exceptional vehicles that set the benchmark for capability and authenticity, including the debut of the Jeep Grand Cherokee, which set the standard for what is expected of a modern SUV,» said Jim Morrison, Vice President, Jeep Brand North America. «The all-new Grand Cherokee L continues to break barriers and push boundaries by ramping up its legendary 4×4 capability, adding a third row of seating for the first time, delivering even more premium on-road manners and providing the most safety and advanced technology features in its class.»

The new Jeep Grand Cherokee L has a starting U.S. MSRP of $36,995 for rear-wheel-drive vehicles and $38,995 for 4×4 models (prices exclude $1,695 destination). The lineup consists of four models, Laredo, Limited, Overland and Summit: 

Built at the new Detroit Assembly Complex – Mack Plant, the 2021 Jeep Grand Cherokee L is scheduled to start arriving in Jeep dealerships in the second quarter of 2021.

More legendary 4×4 capability and award-winning powertrains
The state-of-the-art 2021 Jeep Grand Cherokee L is designed inside and out to deliver unmatched capability and composed driving dynamics. Its renowned 4×4 systems (Quadra-Trac I, Quadra-Trac II and Quadra-Drive II), class-exclusive Jeep Quadra-Lift air suspension now with electronic adaptive damping and Selec-Terrain traction management system instill Grand Cherokee L with the Jeep brand’s legendary 4×4 capability. Quadra-Drive II, with rear electronic limited slip differential, is available on the Overland 4×4 model when equipped with the Off-Road Group and standard on Summit models. All three systems are equipped with an active transfer case to improve traction by moving torque to work with the wheel with the most grip. New for the 2021 Grand Cherokee L is a front-axle disconnect, standard on all 4×4 trims. 

The all-new 2021 Jeep Grand Cherokee L offers buyers a choice of two powerful, fuel-efficient and refined engines with proven performance for any driving situation. Standard across the lineup is the all-aluminum 3.6-liter Pentastar V-6 engine, rated at 290 horsepower and 257 lb.-ft. of torque. Buyers who want more power can opt for the award-winning 5.7-liter V-8, rated at 357 horsepower and 390 lb.-ft. of torque. The V-8 engine is optional for Overland and Summit (4×4 models only). Both award-winning engines are paired with the durable, robust TorqueFlite eight-speed automatic transmission, which enhances fuel economy and delivers crisp and smooth gear changes. The V-8 model delivers class-leading towing capacity of up to 7,200 pounds. 

Most advanced, high-tech safety and security features in its class
Designed to maximize overall passenger safety, comfort and convenience, Jeep Grand Cherokee L packs a powerful punch with next-generation features and technologies that make it a stand out in the full-size SUV segment.

The all-new Grand Cherokee L delivers the most advanced, high-tech safety and security features in its class, with more than 110 innovative applications of technologies and ample standard content across the entire lineup. 

The Grand Cherokee L introduces Active Driving Assist (Level 2) for hands-on-wheel and eyes-on-road automated driving using lane-centering with adaptive cruise control. Available on Overland and standard on Summit models, the system uses multiple sensors, including radars and cameras, to dictate appropriate roads for the technology. 

A night vision camera is also available on Overland and Summit models and uses thermographic technology to augment the reach of the Grand Cherokee L’s headlamps. Infrared sensors search for the heat signatures of pedestrians and animals in the road ahead, at distances up to 219 yards (200 meters). 

The most technologically equipped Jeep Grand Cherokee ever features significant next-generation innovations, including the most advanced Uconnect system ever, rear-seat monitoring camera, digital rearview mirror, full-color windshield HUD, front-row wireless charging pad for devices and an available premium 950-watt, 19-speaker McIntosh audio system. 

The all-new Uconnect 5 system, standard across the 2021 Grand Cherokee lineup, includes a 10.1-inch digital display and intuitive user experience. The system delivers operating speeds that are five times faster when compared to the previous generation. The advanced system also delivers customizable user profiles, standard wireless Apple CarPlay and Android Auto and Alexa «Home to Car» functionality.

The new Grand Cherokee L also gives owners a bird’s-eye view of precious cargo, courtesy of the rear-seat monitoring camera available on Limited, Overland and Summit models. The system projects a best-in-class, high-definition image and delivers several segment-exclusive features, including a clear view of second-row, rear-facing child seat occupants, a split-view display and a unique «zoom-to-seat» function.

A digital rearview camera system, optional on Limited models and above, replaces the conventional rearview mirror with a 9.2-inch-wide LCD that shows real-time video from a rear-facing camera. Unlike a conventional rearview mirror, the new digital camera system offers a view that is unobstructed by the D-pillars or rear seats. When not in use as a display, the screen reverts back to a reflective mirror.

Additionally, a windshield HUD is available on Overland models and above. The full-color display is configurable up to 10 inches and provides key vehicle information to the driver, including speed, speed limit, navigation and driver assist systems (when equipped).

Debuting first on the 2021 Jeep Grand Cherokee L is a premium McIntosh audio system. Available on Overland and Summit models and standard with the Summit Reserve Package, the advanced, high-performance audio system features a 17-channel amplifier with a maximum output of 950 watts and 19 speakers, including a 10-inch subwoofer, to envelope vehicle occupants in high-definition sound. 

2021 Grand Cherokee L Laredo
The Grand Cherokee Laredo boasts an all-new design and comes loaded with standard features at a starting U.S. MSRP of $36,995 for rear-wheel drive and $38,995 for 4×4 models.

The Laredo model features a new, exquisitely crafted and spacious interior that highlights premium materials and next-generation technologies, including standard 10-inch display screens across the instrument panel. Upon entry, drivers are greeted with a new, 10.25-inch frameless digital cluster with nearly two dozen menus for driver personalization.

Laredo also features the new five-times-faster Uconnect 5 system with a 10.1-inch digital display and an 8.4-inch high-definition touchscreen. The system offers a customizable, one-touch home screen, five user profiles and standard wireless Apple CarPlay and Android Auto. To enhance connectivity, the Grand Cherokee L delivers a class-leading total of 12 USB Type A and new Type C ports for all three rows. Type C ports allow devices to charge up to four times faster. Third-row single USB ports are available on Laredo and standard on Limited and up.

Designed to maximize overall passenger comfort, all Grand Cherokee L models, including Laredo, deliver unsurpassed third-row capacity, increased cargo volume and class-leading legroom in the second row. Inside, premium seating includes room for six or seven passengers. The second row comes with standard «tip and slide» bucket seats that can be easily moved to create expansive passage to the third row.

Laredo comes equipped with ample standard safety and security features, including Full-speed Collision Warning with active brake and pedestrian/cyclist detection, Rear Cross Path detection, adaptive cruise control, active lane management, lane departure warning, advanced brake assist, Blind-spot Monitoring, rear park assist sensors and more. Additional standard safety features include passive entry, automatic headlamps, daytime running LED reflector headlamps and LED taillamps.

The Laredo model is powered by the standard 3.6-liter Pentastar V-6 engine with 290 horsepower and 257 lb.-ft. of torque paired with the standard TorqueFlite eight-speed transmission. It also features standard 18-inch aluminum wheels, heated fold-away mirrors with heating element and blind spot indicator, roof rails, cloth seats with power eight-way driver and manual front-passenger with driver lumbar adjuster, automatic dual-zone automatic temperature controls, all-new leather-wrapped heated steering wheel with audio control and paddle shifters, and integrated voice command with Bluetooth.

All Jeep Grand Cherokee L models come standard with the Jeep Wave® premium owner loyalty program. Complimentary membership benefits include three free oil changes and tire rotations during the first 36 months of ownership, no-charge same-day vehicle rental for routine maintenance, 24/7 roadside assistance and other support services.

The Laredo model’s available Altitude Package has a starting U.S. MSRP of $43,995 and adds distinct Black Gloss appearance details, including 20-inch Gloss Black aluminum wheels, Gloss Black exterior accents and badging, roof rails and a unique seven-slot grille. Other functional features include remote start, heated front seats, heated steering wheel, adjustable height liftgate, rain-sensing wipers, 115-volt power outlet and third-row USB ports.

2021 Grand Cherokee L Limited
The Jeep Grand Cherokee L Limited model builds on the many standard features of the Laredo model and starts at a U.S. MSRP of $43,995 for the rear-wheel-drive Pentastar V-6 gas-powered model. Starting U.S. MSRP for a 4×4 Limited model with the Pentastar V-6 is $45,995.

The Limited model builds on Laredo’s upscale design and modern amenities, while taking capability and comfort to the next level. Limited 4×4 models come standard with the class-leading Selec-Terrain traction management system, which offers five available terrain modes (Auto, Sport, Rock, Snow, Mud/Sand) to provide optimized calibrations for any given driving scenario.

The Limited model’s sophisticated interior features standard Capri leather seats and several premium convenience features, including power eight-way driver seat with memory and power four-way driver/front-passenger lumbar adjuster with memory and heated steering wheel.

Heated seats in the first two rows with three-level configurable controls for personalized passenger comfort are standard on Limited, Overland and Summit models. The Limited model also features a six-speaker sound system with active noise cancellation and single-color ambient interior lighting for the instrument panel and front and rear doors.

Standard exterior features include automatic high-beam headlamps, new premium LED fog lamps, power Gloss Black mirrors with a heating element, blind-spot indicator, memory and supplemental turn signals.

Other standard convenient features include remote start, universal garage door opener and a new adjustable height power liftgate.

2021 Grand Cherokee L Overland
Built for both on- and off-road adventures, the Grand Cherokee L Overland model has a starting U.S. MSRP of $52,995 for the rear-wheel-drive Pentastar V-6 model. Starting U.S. MSRP for a 4×4 Overland model with Quadra-Lift air suspension and the Pentastar V-6 is $54,995. When equipped with the optional V-8 engine that delivers 357 horsepower and 390 lb.-ft. of torque and a class-leading towing capacity of up to 7,200 pounds, the starting U.S. MSRP is $58,290. 

The Overland 4×4 model adds Jeep’s Quadra-Trac II system, which adjusts torque distribution and will continue to reactively make corrections if tire slip occurs. When wheel slippage is detected, as much as 100% of available torque is instantly routed to the axle with the most traction. 

Premium interior comfort and convenient amenities are prominent with Overland models. Enhancements include Nappa leather seats and door panels, ventilated front seats, leather-stitched instrument panel, upgraded Uconnect 5 system with navigation and premium Alpine audio system with nine speakers, subwoofer and 506-watt amplifier. Also standard is new ambient lighting with a five-color selection that casts an inviting glow along the entire instrument panel, as well as the front and rear doors for a personalized sensory experience.

Standard exterior upgrades for Overland include 20-inch aluminum wheels with Black Noise pockets, a new, unique Overland appearance, chrome front tow hooks, Gloss Black roof rack with Bright Stainless insert, rain-sensing windshield wipers, trailer towing, approach-lit door handles, rearview mirror puddle lighting, power-folding multifunctional Gloss Black mirrors with Bright Chrome insert, auto-tilt down in reverse, auto-dimming glass on driver’s side and courtesy lighting, windshield wiper deicer and passive entry. A Gloss Black roof is available for the first time on Overland models. 

Length-adjustable cushions for the front row are introduced on Overland models, which is a company first. A power-folding third-row bench seat is also standard. Overland also features a new electronic remote release in the rear cargo area to quickly and effortlessly fold the second row flat. 

Other unique features standard on Overland include a hands-free, foot-activated adjustable power liftgate and CommandView dual-pane sunroof with a power sunshade. 

When equipped with the available Off-Road Group, the Trail Rated Overland 4×4 model adds the Quadra-Drive II system, high-strength steel skid plates, electronic limited slip differential rear axle, 18-inch aluminum wheels and rugged, all-season performance tires. The Selec-Terrain system and Hill-descent Control, which works both in forward and reverse, are standard on Overland.

2021 Grand Cherokee L Summit
For customers seeking the peak of capability and luxury in an SUV, with premium materials and class-exclusive features, the state-of-the-art Grand Cherokee L Summit starts at a U.S. MSRP of $56,995 for rear-wheel drive and $58,995 for 4×4 models. Grand Cherokee L introduces a new premium package, Summit Reserve, with a starting U.S. MSRP of $61,995.

The Summit is packed with premium appointments, such as Nappa leather seats with quilted seat bolsters and perforated seat inserts on all three rows, Absolute Oak wood and leather-wrapped multifunctional steering wheel and Berber floor mats. First-row seats with new power 16-way adjustable position with memory and lumbar are standard on Summit. Also new and offered for the first time on Grand Cherokee is front-row seat massage that includes five customizable profiles with three levels of pressure intensity.

Passenger comfort is elevated in Summit models with new four-zone automatic temperature control, which has the capability to select different fan levels and modes for individual passengers in the first and second rows. The system also offers four different temperature settings. Additional interior touches unique to the Summit model include a new, second-row floor console with two illuminated cup holders and two-tier armrest with additional storage for mobile devices.

Exterior touches include 20-inch polished cast-aluminum wheels in Mid-Gloss Clear, unique Summit-specific LED fog lamps, power-folding multifunction Gloss Black mirrors with a Platinum insert and new 360-degree camera, illuminated door sills and roof rack with Fine Silver rails and Gloss Black insert.

Additional standard safety features on Summit models include:

• Active Driving Assist
• Drowsy Driver Detection
• Intersection Collision Assist
• Traffic Sign Recognition
• 360-degree Surround View Camera with front and rear lens washers
• Parallel and Perpendicular Park Assist

The new Summit Reserve Package sets the benchmark for luxury in the full-size SUV segment. Premium hand-wrapped, quilted Palermo leather, ventilated front and second-row seats, memory and massage front seats and choice of a new Tupelo interior color add distinguishable details to the model. Also unique to the Summit Reserve Package is genuine open-pore Waxed Walnut wood and premium, wrapped, suede-like fabric on the A-pillars and headliner. For the first time on Grand Cherokee, 21-inch wheels come standard with the Summit Reserve Package. Also standard is superior audio delivered through the 950-watt, 19-speaker McIntosh audio sound system.

Jeep Wave customer care program
The Jeep Wave customer service program is available to the entire Jeep brand lineup, including all trims on the all-new 2021 Jeep Grand Cherokee L. The premium owner loyalty program is filled with exciting benefits and exclusive perks, including:

• Three years of worry-free maintenance at Jeep dealerships
• 24/7 support via phone or online chat
• Vehicle protection including 24/7 roadside assistance and first-day loaner coverage
• VIP access to select, exclusive Jeep brand events

Jeep Brand
Built on 80 years of legendary heritage, Jeep is the authentic SUV with capability, craftsmanship and versatility for people who seek extraordinary journeys. The Jeep brand delivers an open invitation to live life to the fullest by offering a full line of vehicles that continue to provide owners with a sense of security to handle any journey with confidence. Jeep Wave, a premium owner loyalty and customer care program that is available to the entire Jeep lineup, is filled with benefits and exclusive perks to deliver Jeep owners the utmost care and dedicated 24/7 support.

The Jeep vehicle lineup consists of the Cherokee, Compass, Gladiator, Grand Cherokee, Renegade and Wrangler. To meet consumer demand around the world, all Jeep models sold outside North America are available in both left- and right-hand drive configurations and with gasoline and diesel powertrain options. Jeep is part of the portfolio of brands offered by leading global automaker and mobility provider Stellantis. For more information regarding Stellantis (NYSE: STLA), please visit www.stellantis.com.

Follow Jeep and company news and video on:
Company blog: http://blog.stellantisnorthamerica.com
Media website: http://media.stellantisnorthamerica.com
Jeep brand: www.jeep.com
Facebook: www.facebook.com/jeep 
Instagram: www.instagram.com/jeep 
Twitter: www.twitter.com/jeep
YouTube: www.youtube.com/thejeepchannel or https://www.youtube.com/StellantisNA

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SOURCE Stellantis

LOS ANGELES, Feb. 26, 2021 /PRNewswire/ — The Wheel Tray, a TV Tray for the car, has launched it’s first product line in a crowdfunding campaign. The innovative product revolutionizes the way people eat, drink and work in their vehicles.

The universal-fitting Wheel Tray that attaches to the steering wheel is compatible with the majority of car manufacturers worldwide and takes the mess out of eating in a parked car or trying to work while on the go. The light-weight, easy-to-use and store Wheel Tray takes less than 5 seconds to set up, tucks between the seat and center console, and has a pocket to put loose items like keys, pens, books or a mobile device.  

The Wheel Tray also comes with an optional white board section to make for easy note taking while on a call in your parked vehicle.

«As an entrepreneur and consultant, I was constantly having to grab a meal on the go and would end up sitting in my car taking phone calls and trying to get work done between appointments. I would have nowhere to put my drink, food or phone and was constantly making a mess,» said Mark Machuzek, creator of The Wheel Tray.  «I thought to myself…if only there was a tray that would hook over my steering wheel that would making eating and working in my car less messy and a more enjoyable experience…so I invented one.»

The Wheel Tray will be completely manufactured in the United States, and the company hiring policies will incorporate the core values of diversity and inclusiveness. «The plan is to hire single parents, veterans, seniors and people with special needs to produce the product which has been an important aspect of my family’s business since day one, earning us Dunn & Bradstreet’s Small Company of the Year award seven times,» said Machuzek.  «Our intention from the pre-orders from our crowdfunding campaign will be to take us from an in-house, limited capacity operation to mass production so that everyone who lives life on the go will be able to reap the benefits of The Wheel Tray.»

For more information on The Wheel Tray, visit the https://www.indiegogo.com/projects/the-wheel-tray-a-tv-tray-for-your-car#/.

For More Information contact:            
Carrie Saks
300790@email4pr.com                                                                                                           
713-679-1782

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SOURCE The Wheel Tray

ATLANTA, Feb. 26, 2021 /PRNewswire/ — Operation HOPE, an Atlanta-based national nonprofit focused on financial literacy and economic self-sufficiency, today announced that Delta Air Lines is expanding its partnership with a commitment to serve their workforce in Delta hubs across the U.S. This expanded partnership will give employees resources that promote financial empowerment and inclusion.

Operation HOPE’s Hope Inside the Workplace program specializes in credit and money management and will bring a number of workshops to Delta people, as well as one-on-one debt counseling and financial coaching opportunities. Operation HOPE’s virtual coaching services will be available to the entire Delta workforce of 80,000 employees in key hub cities starting with the largest base – Atlanta.

«We are excited that with this innovative collaboration, Delta will become our first-ever, national HOPE Inside the Workplace partner, offering comprehensive financial coaching as a standard workplace wellbeing practice,» said Operation HOPE Founder, Chairman and CEO John Hope Bryant. «We commend Delta as it demonstrates its commitment to all the men and women who work for the airline. Helping its workforce plan ahead in good times and deal with bad ones is in all stakeholders’ interests, as Delta continues to invest in its employees.»

«Operation HOPE is all about financial inclusion and empowerment,» said Delta’s E.V.P. and Chief People Officer, Joanne Smith. «This new partnership follows a year of economic downturn caused by the global pandemic, as well as historic disparities and injustice. Delta is committed to taking care of and investing in financial health resources for our people.»

Delta tested Operation HOPE’s services with a small group of employees in 2020, and participants saw an average credit score improvement of 30 points and average reduction in debt of more than $1,500.

In December, Delta CEO Ed Bastian hosted John Hope Bryant, Founder, Chairman, and CEO of Operation HOPE, in an employee Town Hall to share how his organization equips people with financial tools through programming and coaching.

Delta is also partnering with Operation HOPE to support its One Million Black Business and Entrepreneur Initiative (1MBB) program, to support the development of 1 million new Black business owners and entrepreneurs by 2030. 

About Operation HOPE

Operation HOPE is America’s leading nonprofit financial inclusion organization for the underserved, and «America’s Financial Coach for All». Since1992, Operation HOPE has been moving America from civil rights to «silver rights» with the mission of making free enterprise and capitalism work for the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Operation HOPE pioneered financial literacy in the banking sector, and inspired President George W. Bush to make financial literacy the policy of the U.S. Federal Government. 

Through our community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $3.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors.

Our programmatic approach to expanding opportunity for all aims to improve financial literacy, increase business role models and business internships for youth in underserved communities, and stabilize the American dream by boosting FICO scores. Operation HOPE recently received its seventh consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator. For more information: www.OperationHOPE.org. Follow the HOPE conversation on Twitter, Facebook and Instagram.

Media Contact
Bill Mendel
212-397-1030
bill@mendelcommunications.com

Omar Renta
646-675-8151
operationhope@sunshinesachs.com

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SOURCE Operation HOPE

QUINCY, Ill., Feb. 26, 2021 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) today announced the completion of an amendment to its domestic credit facility.  On February 25, 2021, the Company amended and extended the Credit and Security Agreement (the Agreement), dated as of February 17, 2017 (as amended), with agent BMO Harris Bank N.A. and other financial institutions with respect to its $125 million revolving credit facility (the Credit Facility).  The amended Credit Facility was extended for one year with the new maturity occurring on February 16, 2023. The amount available to be borrowed under the amended Credit Facility was reduced to $100 million at the Company’s request to better align with the current borrowing base consisting of eligible accounts receivable and inventory balances at certain of its domestic subsidiaries.  The amended Credit Facility can be expanded through an accordion provision within the Agreement by up to $50 million.  The amended Agreement otherwise has terms substantially similar to those contained in the Agreement prior to the amendment.

«Extending the domestic credit facility was important for us to secure this available capacity to support the growth we are currently seeing within our business beyond 2021,» stated David Martin, Senior Vice President and Chief Financial Officer. «This transaction provides liquidity through February of 2023 and better aligns with other maturities around that time which we anticipate will provide us an opportunity to further address our needs within the capital structure at that time.»

Safe Harbor Statement: This press release contains forward-looking statements. These forward-looking statements are covered by the safe harbor for «forward-looking statements» provided by the Private Securities Litigation Reform Act of 1995. The words «believe,» «expect,» «anticipate,» «plan,» «would,» «could,» «potential,» «may,» «will,» and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, these assumptions are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond Titan International, Inc.’s control. As a result, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. The matters discussed in these forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results and trends to differ materially from those made, projected, or implied in or by the forward-looking statements depending on a variety of uncertainties or other factors including, but not limited to, the effect of the COVID-19 pandemic on our operations and financial performance; the effect of a recession on the Company and its customers and suppliers; changes in the Company’s end-user markets into which the Company sells its products as a result of domestic and world economic or regulatory influences or otherwise; changes in the marketplace, including new products and pricing changes by the Company’s competitors; the Company’s ability to maintain satisfactory labor relations; unfavorable outcomes of legal proceedings; the Company’s ability to comply with current or future regulations applicable to the Company’s business and the industry in which it competes or any actions taken or orders issued by regulatory authorities; availability and price of raw materials; levels of operating efficiencies; the effects of the Company’s indebtedness and its compliance with the terms thereof; changes in the interest rate environment and their effects on the Company’s outstanding indebtedness; unfavorable product liability and warranty claims; actions of domestic and foreign governments, including the imposition of additional tariffs; geopolitical and economic uncertainties relating to the countries in which the Company operates or does business; risks associated with acquisitions, including difficulty in integrating operations and personnel, disruption of ongoing business, and increased expenses; results of investments; the effects of potential processes to explore various strategic transactions, including potential dispositions; fluctuations in currency translations; risks associated with environmental laws and regulations; risks relating to our manufacturing facilities, including that any of our material facilities may become inoperable; risks relating to financial reporting, internal controls, tax accounting, and information systems; and the other risks and factors detailed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the disclosures under «Risk Factors» in those reports. These forward-looking statements are made only as of the date hereof. The Company cautions that any forward-looking statements included in this press release are subject to a number of risks and uncertainties, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason, except as required by law.

About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products.  Headquartered in Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

 

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SOURCE Titan International, Inc.