DULUTH, Ga., June 24 /PRNewswire-FirstCall/ -- Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., today announced that in conjunction with its ongoing IT strategic review, the company has decided to deploy a common dealer management system (DMS) with the Dealer Services Group of Automatic Data Processing, Inc. (Nasdaq: ADP) as its provider. Additionally, Asbury looks forward to partnering with DealerTrack Holdings, Inc. (Nasdaq: TRAK) as a preferred software provider for F&I and inventory management solutions, including credit application processing, compliance and DealerTrack AAX. Asbury does not anticipate any material near-term financial impact; in fact, it expects productivity improvements from its new IT infrastructure, which is targeted to be fully implemented by the summer of 2011.
Asbury's President and CEO Charles R. Oglesby commented, "Over the past few months, Asbury, along with our technology partners, has conducted an in-depth review of our IT strategy and infrastructure. Today I am pleased to announce our decision to partner with both ADP and DealerTrack to provide best-in-class enterprise technologies for our employees and customers. We are excited about the path we are taking, and look forward to a long, productive relationship with our key IT partners."
About Asbury Automotive Group
Asbury Automotive Group, Inc. ("Asbury"), headquartered in Duluth, Georgia, a suburb of Atlanta, is one of the largest automobile retailers in the U.S. Built through a combination of organic growth and a series of strategic acquisitions, Asbury currently operates 80 retail auto stores, encompassing 107 franchises for the sale and servicing of 38 different brands of American, European and Asian automobiles. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, market conditions and projections regarding Asbury's financial position, liquidity, results of operations, market position and dealership portfolio, the benefits of its strategic initiatives and future business strategy. These statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, market factors, Asbury's relationships with, and financial stability of, vehicle manufacturers, other suppliers and service-providers, risks associated with Asbury's indebtedness (including available borrowing capacity and compliance with its financial covenants), risks related to competition in the automotive retail and service industries, general economic conditions both nationally and locally, governmental regulations, legislation, Asbury's ability to execute IT initiatives and other operational strategies, and Asbury's ability to leverage gains from its dealership portfolio. There can be no guarantees that Asbury's plans for future operations will be successfully implemented or that they will prove to be commercially successful.
These and other risk factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements are and will be discussed in Asbury's filings with the Securities and Exchange Commission from time to time, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Asbury Automotive Group, Inc.