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GRAND RAPIDS, Minn.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/CTL?src=hash” target=”_blank”gt;#CTLlt;/agt;–ASV Holdings, Inc. (NASDAQ: ASV), a leading provider of rubber-tracked
compact track loaders and wheeled skid steer loaders in the compact
construction equipment market, today announced that it has received a
new order for ASV Posi-Track compact track loaders (CTLs), valued at
approximately $5 million.

The selection of the ASV RT-40 CTL recognizes the power, performance and
serviceability features of the ASV, patented, Posi-Track driven machine
that is uniquely suited to rental operators looking to operate a
versatile machine in landscaping, general construction and snow
clearance. This order, a follow-on from an initial order for ASV VT-70
machines late last year, is from a customer that is a leading industrial
equipment rental company with multiple locations and maintains one of
the largest industrial equipment rental fleets in North America. Initial
deliveries are slated to commence in the second quarter of 2019.

Justin Rupar, Vice President of Sales and Marketing of ASV Holdings,
Inc., commented, “We are glad to announce this substantial follow-on
order from a great client with an extensive footprint in the growing and
strategically important rental markets here in North America. We
anticipate these machines will be distributed widely across this broad
network, providing the unique ASV experience and unrivaled productivity
of ASV compact track loaders to more users across North America. We’re
looking forward to continuing to serve this customer with an exceptional
product, parts and service platform that is synonymous with the ASV
brand.”

About ASV Holdings, Inc.

ASV Holdings, Inc. is a designer and manufacturer of compact
construction equipment. Its patented Posi-Track rubber tracked,
multi-level suspension undercarriage system provides a competitive
market differentiator for its Compact Track Loader (CTL) product line
with brand attributes of power, performance and serviceability. Its
wheeled Skid Steer Loaders (SSLs) also share the common brand
attributes. Equipment is sold through an independent dealer network
throughout North America, Australia, and New Zealand. The company also
sells OEM equipment and aftermarket parts. ASV owns and operates a
238,000 square-foot production facility in Grand Rapids, MN.

Forward-Looking Statements

This release contains forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may,”
“should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,”
“predicts,” “potential,” “intends” or “continue,” and other similar
expressions that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable terminology.
Forward-looking statements in this release include, without limitation:
(1) projections of revenue, earnings, capital structure and other
financial items, (2) statements of our plans and objectives, (3)
statements regarding the capabilities and capacities of our business
operations, (4) statements of expected future economic conditions and
the effect on us and on dealers or OEM customers, (5) expected benefits
of our cost reduction measures, and (6) assumptions underlying
statements regarding us or our business. Our actual results may differ
from information contained in these forward looking-statements for many
reasons, including those described in the section entitled “Risk
Factors” in our Form 10K for the year ended December 31, 2018, which is
available on our EDGAR page at www.sec.gov.
These statements are only current predictions and are subject to known
and unknown risks, uncertainties and other factors that may cause our or
our industry’s actual results, levels of activity, performance or
achievements to be materially different from those anticipated by the
forward-looking statements. We discuss many of these risks in greater
detail under the heading “Risk Factors” and elsewhere in the Form 10K.
You should not rely upon forward-looking statements as predictions of
future events. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements. Except
as required by law, after the date of this release, we are under no duty
to update or revise any of the forward-looking statements, whether as a
result of new information, future events or otherwise. We obtained the
industry, market and competitive position data in this release from our
own internal estimates and research as well as from industry and general
publications and research surveys and studies conducted by third
parties. While we believe that each of these studies and publications is
reliable, we have not independently verified market and industry data
from third-party sources. While we believe our internal company research
is reliable and the market definitions we use are appropriate, neither
such research nor these definitions have been verified by any
independent source. We from time to time refer to various non-GAAP
financial measures in this release. We believe that this information is
useful to understanding our operating results by excluding certain items
that may not be indicative of our core operating results and business
outlook. Reference to these non-GAAP financial measures should not be
considered as a substitute for, or superior to, results that are
presented in a manner consistent with GAAP. Rather, the non-GAAP
financial information should be considered in addition to results that
are presented in a manner consistent with GAAP.

Contacts

Investor Contacts:
At Darrow Associates, Inc.
Peter
Seltzberg, Managing Director, Investor Relations
(516) 419-9915
[email protected]

At ASV Holdings, Inc.
Andrew Rooke, Chief Executive Officer
(218)
327-5389
[email protected]