Sonic Automotive, Inc. Announces National Vendor
28 June 1999
Sonic Automotive, Inc. Announces National VendorCHARLOTTE, N.C., June 28 -- Sonic Automotive, Inc. announced today the selection of PPG Industries, Inc. as its exclusive national vendor for refinish coatings. Sonic is continuing its efforts to consolidate purchases and realize economies of scale from consolidation in automotive retailing. "PPG products were already used in most of our existing facilities because of high quality and attractive pricing. We're pleased to extend this relationship to all of our collision repair centers. Sonic is creating value by improving operations; not just by completing accretive acquisitions," stated B. Scott Smith, the Company's President and Chief Operating Officer. Sonic Automotive, Inc. is one of the leading automotive retailers in the United States, with operations in Alabama, Florida, Georgia, Maryland, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Upon completion of pending acquisitions, Sonic will operate 111 franchises and 28 collision repair centers. Included herein are forward-looking statements, including statements with respect to anticipated revenue growth. There are many factors which affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission.