Dollar Thrifty Automotive Group Acquires Corpus Christi Thrifty Franchisee
TULSA, Okla., Oct. 14, 2004 -- Dollar Thrifty Automotive Group, Inc. today announced it will acquire the Thrifty Car Rental franchise operation located in Corpus Christi, Texas, effective October 15, 2004. The franchise was previously owned by John and Debra Bruce for over 30 years. The terms of the transaction were not disclosed.
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"We are very pleased to add the Thrifty Corpus Christi location to our corporate operations," Jay Foley, Senior Executive Vice President -- Corporate Operations, said. "With the Dollar Rent A Car brand already operating corporately in this popular tourist destination, we look forward to the operating efficiencies we can achieve by adding the Thrifty brand. We will continue to serve both the traveling public as well as local customers in the area. This is another milestone in our successful acquisition strategy. As with previous acquisitions, the transition is expected to be seamless to Thrifty's customers. Thrifty will continue to focus on its core strength: providing value-seeking customers with a great car rental experience."
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,000 employees are located mainly in North America, but global service capabilities exist through an ever expanding franchise network. For additional information, visit http://www.dtag.com/ .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
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