Penda Corporation Announces Acquisition of Tuffliner

14 September 2000

Penda Corporation announced the acquisition of the assets of Atwell Industries. Located in Ayden, N.C., Atwell Industries is the manufacturer of Tuffliner branded truck bedliners. Penda is the nation's largest manufacturer and marketer of pick-up truck bedliners, serving both the original equipment and automotive aftermarkets. Jack Thompson, President and Chief Executive Officer for Penda, adds, "Tuffliner will help Penda continue to gain market share and further strengthen our hold as the number one bedliner manufacturer." The Tuffliner acquisition will continue to enhance Penda's position as a complete platform for truck accessories. Leo Waner, Chief Financial Officer for Penda, explains, "The Tuffliner acquisition allows us to continue to build our market leadership position. It allows us to leverage our fully integrated process and favorable supplier agreements to create additional shareholder value." Headquartered in Portage, Wisconsin, Penda is the largest manufacturer and marketer of pick-up truck bedliners in the United States. Penda's products include the top bedliner brand, Pendaliner(R) SR(TM), and the officially licensed products of NASCAR Trucks, the Pendaliner(R) SR PRO(TM) and Pendacover PRO(TM), as well as the Pendatray SR(TM), Pendacover(TM) fiberglass tonneau, Hide-a-Hook(R) tie-downs, Tri-Step(TM) premium step boards and bed mats. Penda's subsidiaries include Tri-Glas Corporation, manufacturers of premium fiberglass running boards and tonneau covers; and Penda Glasstite Inc., manufacturers of fiberglass camper tops and tonneaus.

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