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Ford to Explore Strategic Options
for Automobile Protection Corporation
Ford Motor Company announced today
that it has begun the process of exploring strategic options for
Automobile Protection Corporation (APCO), with particular
emphasis on a potential sale of the business.
“APCO is a strong company that has
performed very well, achieving growth in sales and revenue since
its acquisition. As a result of our ongoing strategic review, we
believe it is prudent now for us to consider a sale of APCO,"
said Ford Motor Company Executive Vice President and Chief
Financial Officer Don Leclair.
APCO, a wholly owned subsidiary of
Ford Motor Company, was purchased by Ford Motor Company in July
1999. APCO offers vehicle service contracts and related
after-market products to dealers of all makes and models.
The Company said there can be no
assurance that the decision to explore strategic options for
APCO will result in a transaction, the terms and conditions of
which would be subject to Board approval. |
