Related Quotes Sym. Price Chg. FCCN Trade News 0.0235 0 Franchise Capital Corporation Announces Preliminary Agreement WithAero Exhaust, a World Leader in Automotive Exhaust Technology andNASCAR Performance Partner
Dec 12, 2006 09:13:33 (ET)
TEMECULA, CA, Dec 12, 2006 (MARKET WIRE via COMTEX) -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that it has reached an agreement with Aero Exhaust, Inc., a leader in performance exhaust airflow technology, under which Franchise Capital Corporation would acquire all of Aero Exhaust's issued and outstanding shares.
Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products.
Aero Exhaust is the world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. The Aero Turbine and Turbine XL muffler lines consist of several different universal styles that fit nearly every car, truck or sports utility vehicle on the road and significantly improve fuel economy, engine horsepower and torque. A third line, called the Stealth, is an economy line of additional styles that service the everyday consumer looking for an inexpensive replacement product.
Aero Exhaust was formed in 1999 in order to develop an idea for a new type of vehicle exhaust. The company has evolved from a research and development company to a global manufacturing and distribution organization with the most technologically advanced muffler in the world today. In January 2006, Aero Exhaust entered into an exclusive agreement with NASCAR for its high performance muffler line to join the NASCAR Performance licensing program. The company was also successful in gaining the support of NASCAR legend Rusty Wallace.
"Our NASCAR and Rusty Wallace associations are an integral part of our company and will bring a tremendous value to the FCCN organization," stated Bryan Hunsaker, CEO of Aero Exhaust.
In addition to its NASCAR relationship, Aero Exhaust has been issued patents in both the United States and Australia on its innovations and product developments in the exhaust industry and has a number of patents pending.
"Aero Exhaust is exactly the type of company that Franchise Capital Corporation has targeted to acquire," stated chief executive officer Steven R. Peacock. "Not only has Aero developed technologically innovative products, superior to its competition, but there is a highly effective management team in place, its products are already available worldwide through a number of retail outlets, and the company is well-positioned for significant long-term growth."
"With access to additional resources, we believe that Aero Exhaust is the type of company that will provide a solid return on investment (ROI) for Franchise Capital's shareholders. We are pleased to have signed this letter of intent, and we expect to reach a definitive agreement in the very near future, so we can move forward with this acquisition," added Mr. Peacock.
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About Aero Exhaust:
Aero Exhaust is the world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Additional information Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate web site, www.aeroexhaust.com .
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2005 filed with the Securities and Exchange Commission.
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