VRX Vectrix S

 

TIDMVRX 
 
RNS Number : 6909V 
Vectrix Corporation 
15 July 2009 
 

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| Date:                                  | 15 July 2009                               | 
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| On behalf of:                          | Vectrix Corporation ("Vectrix" or "the     | 
|                                        | Company")                                  | 
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| For immediate release                  |                                            | 
|                                        |                                            | 
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Middletown, R.I. - Vectrix Corporation (AIM: VRX) (www.vectrix.com) announces 
that it has laid off all but essential staff in an effort to conserve cash while 
continuing to pursue strategic options including the sale of the Company. 
Remaining staff will simultaneously begin the process of preparing for a 
bankruptcy filing under Delaware law with a view to filing in the next thirty 
days in the event continuing efforts prove unsuccessful. 
 
 
The Company has been operating in challenging market conditions for some time as 
a result of the credit crunch and lack of consumer spending on bigger ticket 
retail purchases. The Company has made every effort to reduce costs and conserve 
cash, but market conditions continue to be difficult and the results of sales 
have been very disappointing. During the current fiscal year management has 
explored options to secure financing for the Company as well as other 
initiatives including the sale of the Company as a going concern. 
 
- Ends - 
 
 
Enquiries to: 
 
 
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| VECTRIX Corporation                    | www.vectrix.com                        | 
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| Michael J. Boyle, President and CEO    | (401) 848-9993                         | 
|                                        |                                        | 
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| HSBC                                   |                                        | 
|                                        |                                        | 
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| Nick Donald / Nic Hellyer              | +44 (0)20 7991 8888                    | 
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Notes to Editors 
 
 
About Vectrix 
 
 
Vectrix listed on AIM in May 2007 and is the developer of the world's first high 
performance, zero emission, electric motorcycle which is at least 10 times more 
powerful than existing electric power two wheel vehicles. 
 
 
Vectrix is dedicated to developing and commercializing zero emission vehicle 
platform technologies focused on two-wheel applications. Longer term, Vectrix 
plans to develop environmentally sensitive technologies for other segments 
within the transportation industry. 
 
 
Vectrix is headquartered in Middletown, Rhode Island, USA, has a modern vehicle 
assembly facility in Wroclaw, Poland and an R&D center in New Bedford, 
Massachusetts. 
 
 
Vectrix was awarded the 2006 Frost & Sullivan Award for Technology Innovation 
and Leadership in Alternative Vehicle Technologies. 
 
 
Transportation is the largest single source of air pollution in the world. A 
typical motorcycle/scooter produces significantly more CO2 and pollutants than a 
large diesel truck, and far more than a modern low emission automobile. The 
Vectrix bike utilizes innovative zero-emission technology, offering customers a 
clean, affordable, and much needed alternative. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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