COMTEX) B: MBA Holdings Approves Acquisition
B: MBA Holdings Approves Acquisition
SCOTTSDALE, Ariz., Jun 22, 2004 (BUSINESS WIRE) -- MBA Holdings Inc.'s (Symbol:
MBAH.OB) board of directors has approved the acquisition of the First Eagle
Group, LLC and its "Screaming Eagles" parts performance motorcycle warranties.
The all-stock acquisition will fold the assets and management personnel into
Mechanical Breakdown Administrators Inc., a subsidiary of MBA Holdings Inc.
First Eagle Group, LLC and the "Screaming Eagles" parts performance warranty
plan, in conjunction with insurance companies, market and administer the
warranty programs of many national motorcycle manufacturers providing the
two-year factory warranties, as well as new and used motorcycle extended
warranties nationwide. "Screaming Eagles" parts performance warranties are sold
at hundreds of motorcycle dealers nationwide.
In a related matter, the board of directors has approved the hiring of three
seasoned professional warranty executives to manage divisions at MBA Inc.: Terry
Fittje to head the auto warranty division and call center division, Allen
McCalip to head the recreational vehicle division and Dave Ward to head the new
motorcycle division.
The board of directors also approved the implementation of an aftermarket
extended warranty plan offering a sixth and seventh year extended warranty plan
on the Alfa Leisure Recreational Vehicle product line. Alfa Leisure is a leading
recreation vehicle manufacturer of motor homes and travel trailers that are
built in California and sold nationwide. MBA Holdings Inc.'s subsidiary,
Mechanical Breakdown Administrators Inc. (MBA Inc.), has been the administrator
of the Alfa Leisure products five-year factory warranty for the last three
years.
SOURCE: MBA Holdings Inc.
CONTACT: MBA Holdings Inc., Scottsdale
Gaylen Brotherson, 480-860-2288, ext. 317
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Copyright (C) 2004 Business Wire. All rights reserved.
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KEYWORD: CALIFORNIA ARIZONA
INDUSTRY KEYWORD: AUTOMOTIVE
MANAGEMENT
CHANGES
MERGERS/ACQ
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