ACCESS Newswire
29 Nov 2021, 20:01 GMT+10
SARASOTA, FL / ACCESSWIRE / November 29, 2021 / Planet Resource Recovery, Inc. (OTC:PRRY) is pleased to announce that the company acquired MAX Amphibious All-Terrain Vehicle's product line, assets, tooling, and intellectual property from Agile Vehicle Technologies Limited on Friday, November 26, 2021.
Recreatives Industries Inc. of Buffalo, New York began production of the MAX Amphibious All-Terrain Vehicle (ATV) in 1969. In 2013, the MAX product line and associated assets were sold to new management and remained in production until 2016. The total number of MAX ATVs built between 1969-2016 exceeds 25,000 vehicles.
Andrew Lapp, CEO of Planet Resource Recovery, Inc. stated: 'This is an extremely unique opportunity for an OTC company. Our first task is to begin the process of re-establishing the supply chain for vehicle components and parts with previous vendors along with re-opening an assembly line for new vehicle production around Buffalo, New York. As a result of the massive success of MAX ATVs over a span of 47 years, the vehicle's dominance in the Amphibious ATV market has created a viable revenue stream for replacement parts and accessories for an estimated 10,000 vehicles in existence today. Planet Resource Recovery, Inc. intends to re-launch the MAX parts and accessory business for the current market of MAX vehicles as the company begins the process of re-introducing MAX ATVs into the all-terrain vehicle market.'
'We are also excited to announce the appointment of Mr. Galen Reich as President of Planet Resource Recovery, Inc. Mr. Reich served as General Manager and Marketing Manager for Recreatives Industries Inc. from 1993-2013 and continued managing MAX ATVs under its new management from 2013-2015. Upon Mr. Reich joining Recreatives Industries in 1993, he began implementing his strategies for business development, assembly line production, sales leads, marketing, dealer network expansion, and military contract negotiations. This resulted in the company achieving a 24% compounded annual growth rate in sales revenue during the first 5 years. We are confident that Galen brings the needed experience to successfully re-launch the MAX brand and evolve the product line as we enter into a new generation of MAX ATVs.'
Planet Resource Recovery
Currently headquartered in Sarasota, Florida, Planet Resource Recovery, Inc. is the manufacturer of MAX Six-Wheel Drive Amphibious All-Terrain Vehicles. First launched in 1969, MAX ATVs have been used in numerous applications relating to recreation, hunting, commercial, industrial, and military. Planet Resource Recovery Inc. will produce the MAX ATV product line along with MAX parts and MAX factory original accessories. For more information about PRRY, visit our new corporate website at www.recreatives.com or contact Investor Relations at [email protected] / (561) 402-8025.
CONTACT:
Planet Resource Recovery, Inc.
561-402-8025
www.recreatives.com
SOURCE: Planet Resource Recovery, Inc.
Get a daily dose of Albuquerque Express news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Albuquerque Express.
More InformationGENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...