July 8, 2009 (FinancialWire) — Fleetwood Enterprises, Inc. (OTCBB: FLTWQ) (Current Market Cap: $1.34 Mil.) said that Adventure Homes has agreed to purchase Fleetwood’s Garrett, Indiana manufactured housing plant and all related equipment and inventory for $1.75 million.

The deal is subject to bankruptcy court approval and a purchase price deduction for the assumption of certain warranty obligations.

Fleetwood said that the buyer intends to operate the Indiana facility as an independent producer of manufactured homes and hopes to offer employment to substantially all of the existing workforce.

Riverside, California-based Fleetwood is a producer of recreational vehicles and manufactured housing that has been operating under Chapter 11 protection since March 10.

Fleetwood Enterprises and its various subsidiaries operate 15 plants located in nine states. Fleetwood’s products are primarily marketed through extensive networks throughout the United States and Canada.

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