SCCA To Continue Ownership of SCCA Enterprises

TOPEKA, Kan. (Sept. 14, 2006) -- Sports Car Club of America, Inc.'s Board of Directors confirmed on a conference call Monday that it would maintain ownership of racecar manufacturer SCCA Enterprises. The Board noted that this would be a long-term decision.

The SCCA, Inc. Board merged the SCCA Enterprises Board of Directors and the Enterprises sale task force to complete the sale evaluation process. Several bids were received, and a thorough analysis of the company's finances, operations and future was completed.

"After a careful and thorough evaluation of the potential sale of Enterprises, it was determined that it was in the best interests of the membership and parent company to maintain ownership," SCCA Enterprises Chairman Andy Porterfield said. "This is not at all a reflection on the quality of the bids that we received, but rather an overall result of the review."

"The SCCA Enterprises Board and sales task force did an excellent job through this entire process, bringing a recommendation, with research data to back it up, for us to endorse," SCCA, Inc. Chairman Bob Introne said.

SCCA first announced that it was exploring the sale of the wholly owned subsidiary June 7.

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-credit: sccs