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| Dollar Thrifty Automotive Group Acquires Pennsylvania Franchise Locations |
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TULSA, Okla., Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental franchise operations in Pittsburgh, Middletown/Harrisburg, Allentown and Erie, Penn. and the Dollar Rent A Car franchise operations in Middletown/Harrisburg and Allentown, Penn.
The acquisition includes Thrifty in-terminal locations serving Pittsburgh International Airport, Harrisburg International Airport, Lehigh Valley International Airport (Allentown) and Erie International Airport and the Dollar in-terminal locations serving Harrisburg and Allentown. The deal also adds approximately 600 vehicles to the company's corporate fleet. The terms of the transaction, effective March 1, 2007, were not disclosed.
"These key acquisitions allow us to add to our strategic presence in the top 75 U.S. airports. Currently, we corporately-operate both brands in Philadelphia as well as the Dollar location in Pittsburgh," said Jay Foley, senior executive vice president of corporate operations at Dollar Thrifty. "This allows us to capitalize on our operational synergies throughout the commonwealth of Pennsylvania and the surrounding region."
The Thrifty operations in Pittsburgh and Erie were sold by General American Rentals, Inc. The Dollar and Thrifty operations serving Middletown/Harrisburg were sold by Generic Auto Rental, Inc. The Thrifty and Dollar operations serving Allentown were sold by Gooby Auto Rentals, Inc. All operations were collectively owned by Robert P. Gardill, II, who has been a licensee since 2000.
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 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. 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 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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Source : http://www.automotive.com/
(3/1/2007)
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