Warrantech Signs Agreement With Monro Muffler; New Warranty Program Launched with Leading Under-car Repair Specialist.Business Editors
BEDFORD, Texas--(BUSINESS WIRE)--Jan. 22, 2003
Warrantech Corporation (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :WTEC WTEC World Technology Evaluation Center ), a leader and innovator in providing service contracts and aftermarket warranties announced an Agreement was signed with Monro Muffler muffler, in automobiles, device designed to reduce the noise from the exhaust of an internal-combustion engine. When the exhaust gases from an internal-combustion engine are released directly into the atmosphere, they create a loud noise, caused by the passage of the Brake Inc. (Nasdaq:MNRO) launching a unique retailer warranty program. The product launch will begin in January 2003.
This direct marketing solicitation program is targeting those consumers who have recently utilized Monro service facilities. Customers whose vehicles mileage does not exceed 110,000 miles will be offered renewable service contract protection against mechanical failures.
Monro Muffler Brake is one of the largest providers of automotive undercar repair services in the mid-Eastern United States. Currently, Monro operates stores in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , New Jersey, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures
Area, 52,586 sq mi (136,198 sq km). Pop. , South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures
Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Indiana, Rhode Island Rhode Island, island, United States
Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Delaware and Michigan. Monro provides a full range of services for exhaust systems, brake systems, steering and suspension systems and many vehicle maintenance services.
"Warrantech continues to look for innovative ways to help retailers provide the highest level of customer service and provide for incremental revenue streams," Joel San Antonio, chairman and chief executive officer of Warrantech, said. "The focus of our management team is to find creative new services that offer significant value to retailers and their patrons. The Monro program is a prime example of how we spot developing trends, create new products and bring them to our retail clients to help them meet the needs of their customers."
Warrantech Corporation administers and markets service contracts and after-market warranties on automobiles, automotive components, recreational vehicles, appliances, consumer electronics, homes, computer and computer peripherals for retailers, distributors and manufacturers. The company continues to expand its domestic and global penetration, and now provides its services in the United States, Canada, Mexico, Puerto Rico and Latin America. For additional information on Warrantech, access www.warrantech.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward-looking statements that are subject to risks and uncertainties. Other risks and uncertainties include but are not limited to, Warrantech Automotive's ability to secure an alternate source of payment of claims under the vehicle service contracts as a result of the Reliance Insurance Company Liquidation, the effectiveness of cost containment measures and the continuation of current levels of business activity, the impact of competitive products, product demand and market-acceptance risks, reliance on key strategic alliances, fluctuations in operating results and cash flow and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. These risks could cause the company's actual results for the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company.