Tilden Associates, Inc. Increases Assets, Purchases First Income Property
23 November 1999
Tilden Associates, Inc. Increases Assets, Purchases First Income Property
GARDEN CITY, N.Y.--Nov. 23,1999--Tilden Associates, Inc. (OTCBB:TLDN) which operates under the name of Tilden Car Care Centers, today reported it has purchased its first income property associated with the company's franchise operation.Tilden, through a subsidiary, Tilden Hempstead Inc., purchased the property and operations of an existing automotive repair business on Long Island, located at 304 Hempstead Turnpike W, Hempstead, N.Y. The company simultaneously leased the property and sold the business operation to a Tilden franchisee, Norman W. Yasnor, who has retained the previous personnel and is continuing to run the business during the transition to Tilden's Total Car Care concept.
Tilden's name, which has a 75-year quality reputation in the automotive service industry, is well-known in Hempstead and throughout the New York market, as well as now providing complete automotive service repairs across the country. A family-operated repair business since 1923, Tilden has established 60 Tilden Car Care Centers in 11 states.
"Purchasing property and being involved with developers on build-to-suit properties, is part of our future plans," said Robert Baskind, president of Tilden Associates, Inc. The company has been expanding nationally over the past few years, both through acquisition and new franchise development. "This first purchase of income property is an additional direction for Tilden to increase assets and revenues," Baskind said.
The company has an open invitation for Market Development Partners and individual franchises and now real estate developers to share in their successful enterprise. Information may be obtained by contacting Tilden at 1-800-TILDENS or visiting their website at www.tildencarcare.com.
"Safe Harbor" Statement
Except for the historical information contained herein, certain of the matters discussed in this press release are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which involve certain risks and uncertainties, including but not limited to, changes in general economic conditions, material prices, labor costs, interest rates, consumer confidence, competition, environmental factors, and governmental regulations affecting the company's operations.