Dollar Thrifty Automotive Group Increases Corporate Presence in Wisconsin; Company Acquires Franchise Operations in Milwaukee and Madison
TULSA, Okla., June 1 -- Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental operation in Milwaukee, Wisconsin, and both the Dollar Rent A Car and Thrifty Car Rental franchise operations in Madison. In Milwaukee, the acquisition includes the Thrifty location serving the General Mitchell International Airport as well as a downtown location. The Madison acquisition includes both the Dollar and Thrifty locations at Dane County Regional Airport. The acquisitions add approximately 465 vehicles to the Company's corporate fleet. Terms of the transaction, effective today, were not disclosed.
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"Milwaukee and Madison are strong, growing markets and we're pleased to add them to our corporate operations," Jay Foley, Senior Executive Vice President - Corporate Operations, said. "We look forward to serving the value-seeking car rental customers who visit the diverse attractions in Milwaukee including professional baseball in a new state-of-the-art ballpark, renowned museums as well as the unique events and activities that make Milwaukee a 'Great Place on a Great Lake.' With the Dollar Rent A Car brand already operating corporately in Milwaukee, we look forward to the operating efficiencies we can achieve by adding the Thrifty brand. Likewise, the Madison acquisition includes both the Dollar and Thrifty brands and will provide us with marketplace synergies in fleet, back office and management. We welcome the opportunity to expand our brands corporately in these key Wisconsin locations."
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 1,600 corporate and franchised worldwide locations including over 800 in the United States and Canada. The Dollar or Thrifty brands operate in virtually all of the top U.S. airport markets; both brands operate in all of the top Canadian airport markets. The Company's more than 8,500 employees are located mainly in North America, but global service capabilities exist through an expanding international 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; access to reservation distribution channels; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; natural hazards or catastrophes; incidents of terrorism; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; systems or communications failures; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters and litigation risks. 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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