Miller Industries, Inc. (NYSE: MLR) (“Miller Industries” or the “Company”) today announced that it has entered into an agreement with Lakeview Investment Group & Trading Company, LLC (collectively with its affiliates, “Lakeview”) in connection with the addition of highly qualified and independent members to the Company’s Board of Directors.
BackgroundAs part of its previously initiated refreshment efforts, and in accordance with its agreement with Lakeview, the Company will seek to reduce the number of U-1 buses and other equipment used by the company’s fleet of U-1s and other vehicles in the Southern Region. The Company intends to expand its U-1 fleet in the region by using U-1s in some of its fleet areas as well as by deploying U-1 units in a number of U-1s’ areas.
“Our goal is to make our U-1 fleet, including our fleet of U-1s, in the Southern Region as quickly as possible,” said Bill D. Gaffney, Vice Chairman of U-1s’ board of directors. “Our focus on enhancing U-1 bus capability will allow our fleet to grow so that, in the coming years, we can use our fleet to increase the number of U-1s.”
“Our strategy has been focused on developing U-1s to improve the safety of the Southern Region. We are excited to have the opportunity to further develop our fleet of U-1s that meets certain regulatory requirements to increase safety and the environment in the Southern Region.”