Aftermarket Technology Corp. Selected as North American National AAMCO Dealers Association (NADA's) Parts Partner
17 March 2000
Aftermarket Technology Corp. Selected as North American National AAMCO Dealers Association (NADA's) Parts PartnerWESTMONT, Ill., March 16 Aftermarket Technology Corp. , a leading remanufacturer and distributor of drivetrain products used in automotive repair, today announced that its Distribution Group was recently selected by NADA as its preferred transmission parts partner. This partnership is a first in NADA's almost 35-year history. Under the terms of the Parts Advantage 2000 Program, ATC's Distribution Group will provide NADA members with unprecedented one-stop shopping and support for all of their transmission needs. The Parts Advantage 2000 Program will provide over 700 AAMCO franchisee members with access to more than 30,000 parts, including soft parts, torque converters, and hard parts for both manual and automatic units. Additionally, ATC will customize over 70 repair kits meeting the standards set by NADA. As part of the Parts Advantage 2000 Program, ATC and NADA have formed a task force designed to ensure continuous improvement of the program. The focus of the task force is to allow NADA members a forum for direct input on issues such as parts quality, delivery concerns, service enhancements and new product lines. In commenting on the unique industry partnership, Mike DuBose, ATC's Chairman, President and CEO said, "We are pleased to have been selected by NADA as their parts partner. NADA represents the largest unified customer base in the industry and we are anxious to offer them a new, integrated package of parts and support services. We look forward to working in partnership with the individual dealers and meeting their very specific needs for service." Mike Ganjei, NADA's President said, "This is truly a natural partnership between two great organizations. Between us, we will set the aftermarket service standard of excellence." ATC is headquartered in Westmont, Illinois. The Company's principal products include remanufactured transmissions, torque converters and engines, as well as remanufactured and new parts for the repair of automotive drivetrain assemblies. ATC also remanufactures electronic control modules, instrument and display clusters and radios. In addition, the Company provides third-party distribution and material recovery services. The Company's customers include original equipment manufacturers and independent transmission rebuilders, as well as wholesale distributors and retail automotive parts stores. Established in 1994, the Company maintains more than 60 distribution centers throughout the United States and Canada. ATC posted 1999 revenues of $565.0 million. The preceding paragraphs contain statements that are not related to historical results and are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that are predictive or express expectations, that depend upon or refer to future events or conditions, or that concern future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, or possible future Company actions. Forward-looking statements involve risks and uncertainties because such statements are based on current expectations, projections and assumptions regarding future events that may not prove to be accurate. Actual results may differ materially from those projected or implied in the forward-looking statements. The factors that could cause actual results to differ are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 1998 and other filings made by the Company with the Securities and Exchange Commission.