Message #4 From:
NewsBot Date: February 22, 2005 09:16:52 PM
AACC Asset Acceptance Capital Corp. Announces Ribbon-Cutting Ceremony for New Corporate Headquarters in Warren
Asset Acceptance Capital Corp. Announces Ribbon-Cutting Ceremony for New Corporate Headquarters in Warren
WARREN, Mich. - PRNewswire-FirstCall - Feb. 10
WARREN, Mich., Feb. 10 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. today announced it will host a ribbon-cutting ceremony for its new corporate headquarters in Warren, Mich. on Wednesday, Feb. 16 at 10 a.m.
Asset Acceptance Ribbon-Cutting Ceremony
Wednesday, Feb. 16, 2005 at 10 a.m.
28405 Van Dyke Avenue - Warren, Mich.
The new 200,000 square-foot facility, located in Warren's Renaissance Zone, more than doubles the size of the Company's former headquarters. The building allows Asset Acceptance to consolidate all of its corporate operations and Warren collections group from three buildings into one and allows for continued growth.
Initially, Asset Acceptance will occupy 75 percent of the 200,000 square- foot building. When fully occupied, the new building will house approximately 1,400 staff. Currently, the Company employs more than 600 at the Warren facility and more than 800 in Michigan.
Asset Acceptance Chairman Bud Reitzel and CEO and President Brad Bradley will host the ribbon-cutting ceremony. They will be joined by State Representative Lisa Wojno, Warren Mayor Mark Steenbergh as well as other local and state dignitaries, the Michigan Economic Development Corporation (MEDC) and other key partners.
"When I began what would become Asset Acceptance more than 40 years ago, I was the only employee -- today, we're a public company, employing over 1,800 in eight states and dedicating a new corporate headquarters," said Bud Reitzel, chairman of Asset Acceptance Capital Corp. "Since 1996 we have proudly called Warren home, and with this new building, we will continue to grow and call Warren home for many years to come.
"Our new headquarters is a testament to Renaissance Zones and the hard work and dedication of many people from the City of Warren, the MEDC, the State of Michigan and others," said Reitzel.
About Asset Acceptance Capital Corp.
For more than 40 years, Asset Acceptance has provided credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others, an efficient alternative in recovering defaulted consumer debt. For more information, please visit http://www.assetacceptance.com/ .
Asset Acceptance Capital Corp. Safe Harbor Statement
This press release contains certain statements, including the Company's plans and expectations regarding its operating strategies, charged-off receivables and costs, which are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's views, at the time such statements were made, with respect to the Company's future plans, objectives, events, portfolio purchases and pricing, collections and financial results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. Forward-looking statements are not guarantees of future performance; they are subject to risks and uncertainties. In addition, words such as "estimates," "expects," "intends," "should," "could," "will," variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Risk Factors include, among others: ability to purchase charged- off consumer receivables at appropriate prices, ability to continue to acquire charged-off receivables in sufficient amounts to operate efficiently and profitably, employee turnover, ability to compete in the marketplace, acquiring charged-off receivables in industries that the Company has little or no experience, integration and operations of newly acquired businesses, and additional factors discussed in the Company's periodic reports filed with the Securities and Exchange Commission on Form 10-K and 10-Q and exhibits thereto. Other Risk Factors exist, and new Risk Factors emerge from time to time that may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Furthermore, the Company expressly disclaims any obligation to update, amend or clarify forward-looking statements. In addition to the foregoing, several Risk Factors are discussed in the Company's most recently filed Annual Report on Form 10-K and other SEC filings, in each case under the section titled "Forward Looking Statements" and those discussions regarding risk factors as well as the discussion of forward looking statements in such sections are incorporated herein by reference.
Asset Acceptance Capital Corp.
Web site: http://www.assetacceptance.com/
