Action Performance Names President of Penske Motorsports to Board of Directors.PHOENIX--(BUSINESS WIRE)--July 13, 1999-- Action Performance Companies Inc., (Nasdaq:ACTN ACTN Action ACTN Acetone ) Tuesday announced that it has named Gregory W. Penske to its board of directors. Penske is president of Penske Motorsports Inc. (PMI See Private Mortgage Insurance. ), a leading promoter and marketer of professional motorsports in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and is responsible for all of PMI's operations. Penske Motorsports owns and operates, through its wholly-owned subsidiaries, California Speedway, Michigan Speedway, Nazareth Speedway and North Carolina Speedway North Carolina Speedway is a racetrack located in Rockingham, North Carolina. It is affectionately known as "The Rock" and hosted NASCAR events from 1965 to 2004, and has proposed hosting Automobile Racing Club of America series races starting in 2008. and holds a 45 percent interest in Homestead-Miami Speedway. Action Performance Chairman, President and Chief Executive Officer Fred W. Wagenhals said, "We are pleased to announce the newest addition to Action's board of directors. Greg's leadership and extensive business experience in the motorsports industry will help Action achieve its corporate strategies and objectives." Said Penske, "I look forward to joining the Action Performance team. Action is a very innovative and cutting edge company that has successfully positioned itself as a leader in the distribution of quality motorsports-related merchandise." Action Performance Companies Inc. is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs, and other memorabilia. The company markets and distributes products through a variety of channels, including the 166,000-member Racing Collectables Club of America (RCCA RCCA Root Cause and Corrective Action (to prevent the recurrence of a defect by eliminating its cause) RCCA Rural Community College Alliance RCCA Roller Coaster Corporation of America RCCA Rod Cluster Control Assembly ), online through SpeedMall at goracing.com, trackside track·side n. The area near a track, especially a racetrack. at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers. |
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