EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

EXHIBIT 99.1
 
GRAPHIC


8503 Hilltop Drive
Ooltewah, Tennessee 37363
(423) 238-4171
 

  APPROVED BY:   Jeffrey I. Badgley  
      Co-Chief Executive Officer  
 
FOR IMMEDIATE RELEASE
 
 
CONTACT:
 
Miller Industries, Inc.
 
     
J. Vincent Mish, Chief Financial Officer
 
     
(423) 238-4171
 
     
Frank Madonia, General Counsel
 
     
(423) 238-4171
 
     
FD
 
     
Investor Contact: Eric Boyriven/Alexandra Tramont
 
     
(212) 850-5600
 

 
MILLER INDUSTRIES ANNOUNCES STOCK REPURCHASE PROGRAM

CHATTANOOGA, Tennessee, March 12, 2009 – Miller Industries, Inc. (NYSE: MLR) (the “Company”) today announced that the Company’s Board of Directors has approved the repurchase of up to $5,000,000 of shares of the Company’s outstanding common stock.  Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors.  Repurchased shares will be held in treasury.
Miller Industries is the world’s largest manufacturer of towing and recovery equipment, and markets its towing and recovery equipment under a number of well-recognized brands, including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface and Eagle.
Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “continue,” “future,” “potential,” “believe,” “project,” “plan,” “intend,” “seek,” “estimate,” “predict,” “expect,” “anticipate” and similar expressions, or the negative of such terms, or other comparable terminology.  Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements.  Such forward-looking statements are made based on our management’s beliefs as well as assumptions made by, and information currently available to, our management.  Our actual results may differ materially from the results anticipated in these forward-looking statements due to, among other things, economic and market conditions, the risks related to the general economic health of our customers and their access to capital and credit to fund purchases, changes in fuel and other transportation costs, the cyclical nature of our industry, our dependence on outside suppliers of raw materials, changes in the cost of aluminum, steel and related raw materials, and those other risks discussed in our filings with the SEC, including those risks discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for fiscal 2008, which discussion is incorporated herein by this reference.  Such factors are not exclusive.  We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, our company.

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