Central Parking Corporation Joint Venture Awarded Contract to Manage Parking At Burbank Airport.Business Editors Central Parking Corporation (NYSE NYSE See: New York Stock Exchange :CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. ) today announced that in a joint venture with Valet Parking valet parking n. Parking arrangements provided by a commercial establishment, such as a restaurant, whereby patrons leave their cars at the entrance and attendants park and retrieve them. Noun 1. Service, it has been awarded a multi-year contract to provide parking and shuttle-bus service for the Burbank-Glendale-Pasadena Airport. The management agreement is effective August 1, 2002 and encompasses 3,200 self-park spaces and 1,500 valet parking spaces. Burbank Airport serves approximately five million passengers annually and is owned jointly by Burbank, Glendale and Pasadena, California Pasadena is a city in Los Angeles County, California, United States. As of the 2000 census, the city population was 133,936 and the 160th largest city in the United States. The California Finance Department estimates the Pasadena population to be 146,166 in 2005. . Valet Parking Service is a privately-owned, full-service parking company founded in 1946 and based in Culver City, California Culver City is a city in western Los Angeles County, California. As of the 2000 census, the city had a population of 38,816. The community is mostly surrounded by the city of Los Angeles but also has a border with unincorporated areas of Los Angeles County. . William J. Vareschi, Jr., vice chairman and chief executive officer, commented, "We are very pleased that our co-venture with Valet Parking Service was selected to provide parking and related service to Burbank Airport. This marks our 18th major airport and our initial airport contract in California. We look forward to initiating operations at this fast-growing facility which is only minutes away from downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or and many southern California attractions." Central Parking Corporation, headquartered in Nashville, Tennessee, is a leading provider of parking and transportation services. The Company operates approximately 4,000 parking facilities containing approximately 1.5 million spaces at locations in 38 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Chile, Colombia, Germany, Mexico, Peru, Poland, Spain, Switzerland, Venezuela and Greece. This press release contains projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These projections and statements reflect the Company's current views with respect to future events and financial performance. No assurance can be given, however, that these events will occur or that these projections will be achieved and actual results could differ materially from those projected as a result of certain factors. A discussion of these factors is included in the Company's periodic reports filed with the Securities and Exchange Commission. |
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