Action Performance division signs exclusive management contracts with veteran NHRA racers.TEMPE, Ariz.--(BUSINESS WIRE)--Oct. 11, 1996--Action Performance Companies Inc. (NASDAQ/NM:ACTN ACTN Action ACTN Acetone ) Friday announced that its newly formed Action Sports Management division in Charlotte, N.C., has signed exclusive management contracts with a pair of veteran National Hot Rod Association
The National Hot Rod Association (NHRA) (NHRA NHRA National Hot Rod Association NHRA Northland Human Resource Association NHRA National Human Resources Association NHRA Nursing Home Reform Act NHRA National Hospice Regatta Alliance NHRA National Heritage Resources Act (South Africa) ) drag racing drag racing Form of motor racing in which two contestants race side by side from a standing start over a straight quarter-mile strip of pavement. Winners go on to compete against others in their class until only one is left undefeated. teams. G&A Racing includes three-time NHRA Pro Stock world champion Darrell Alderman and his teammate and multiple Pro Stock race winner Scott Geoffrion. Darrell Gwynn Racing, owned by legendary Top Fuel racer Darrell Gwynn, features veteran Top Fuel racer Mike Dunn Mike Dunn (born 20 November 1971) is an English snooker player who currently lives in Redcar. Dunn turned professional in 1991. His best performance in a ranking competition came in the 2005 Malta Cup when he beat five players including Marco Fu and David Gray to reach the last 16 as its driver. Both G&A Racing and Darrell Gwynn Racing are members of "Team Mopar." The racing teams are sponsored by the automotive parts division of Chrysler Corp. Under the terms of the exclusive three-year agreements, Action Sports Management will represent both teams and their drivers in all negotiations for product endorsements, licensed products and new team sponsorships. In September, Action signed a similar agreement with John Force, a six-time NHRA Winston World Champion. Fred W. Wagenhals, chairman, president and chief executive officer of Action Performance stated, "These new agreements with popular NHRA personalities provide us with another promising source of revenues and further expands the solid licensing franchise now being built by our new Action Sports Management division. We are very excited about the opportunity we gain with this agreement," Wagenhals continued. "Mopar, with an established presence in thousands of Dodge, Chrysler, Plymouth dealerships across the country, is a very familiar name to automotive enthusiasts, and in serving as agent for these well-known competitors, we hope to further elevate their and their teams' visibility while at the same time making our products available to a broad new audience," he said. "We are continuing our efforts to negotiate similar contracts with other racing personalities as a way to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the long-term earnings potential we believe such arrangements afford us." Action Performance Companies designs and markets die-cast and pewter collectibles of NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. , NHRA, World of Outlaws The World of Outlaws (often abbreviated WoO) is an American motorsports sanctioning body. The body sanctions two major national touring series. It is best known for sanctioning a national tour of sprint cars. (WOO), and other motor racing cars and related memorabilia. The company has license agreements with nearly all of the leading race car drivers, sponsors and vehicle manufacturers. Its products, manufactured in China and the United States, are marketed directly to its Racing Collectables Club of America with more than 60,000 members and through approximately 5,000 retailer dealers. CONTACT: Action Performance Companies Inc., Tempe Christopher Besing, 602/517-3703 Fred Wagenhals, 602/517-3710 or Silverman Heller Associates, Los Angeles Eugene G. Heller, 310/208-2550 |
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