For Further Information:
For Immediate Release:
Salinas, CA, June 18, 2001- Scott D. Scheid, President and Chief Operating Officer of Scheid Vineyards Inc. (Nasdaq: SVIN) today announced that Tony Stephen has joined the Company as Director of Wine Grape Marketing and Sales.
The Company, one of the country’s largest independent growers of premium wine grapes, also announced that it has completed the move of its headquarters and executive offices from Marina del Rey, California to 305 Hilltown Road in Salinas, California near the intersection of Highway 68 and River Road. This location is about 30 miles north of the Company’s vineyards.
As Director of Wine Grape Marketing and Sales, Stephen will be responsible for marketing premium wine grapes from Scheid Vineyards’ 6,000 acres in Monterey and San Benito Counties. He will maintain a sales office in Hopland, California.
Stephen joins Scheid Vineyards from wineryexchange.com, where he was Director of Winegrowing. While at wineryexchange.com, he helped manage the development and execution of the first ever California wine grape auctions. Earlier, Stephen was Director of Viticultural Operations at Brutocao Vineyards in Hopland, and an Assistant Vineyard Manager at Carmenet Winery.
According to Scheid, the relocation of the Company’s Executive Office, and the newly created position held by Stephen, are part of Scheid Vineyards’ strategy "to interact more closely and frequently with our winery clients and to aggressively market to new clients for both long term contracts, and to fulfill short-term winery needs."
"As more of our vineyards come into full production, Tony’s vast network and experience in the marketplace will help us secure new sales relationships and opportunities for continued growth," concluded Scheid. (more)
Scheid Vineyards Inc. is a leading independent producer of premium wine grapes and operates approximately 6,000 acres of vineyards, primarily in Monterey County, California. The Company sells most of its grape production under long-term contracts to wineries producing primarily premium quality table wines, and the Company also produces a small amount of ultra premium wine under its own labels.
Note: This press release contains forward-looking statements, such as those concerning the Company’s relocation of its executive offices, and the Company’s expectations regarding opportunities for growth. These forward-looking statements can generally be identified as such because the context of the statement will include such words as the Company "believes", "anticipates", "expects", or words of similar import. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. For further details and a discussion of the risks and uncertainties that may affect the Company, please see the Company’s disclosures in its publicly available filings with the Securities and Exchange Commission, including registration statements and periodic reports. In particular, attention is drawn to the cautionary statements included under "Business – Cautionary Information Regarding Forward-Looking Statements" in the Company’s annual report on Form 10-KSB for the fiscal year ended December 31, 2000. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undo reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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