Asset Acceptance Capital Corp. Announces Opening of New Chicago Office
November 30 2005 - 10:17AM
PR Newswire (US)
New Location Represents Targeted Expansion in Key Growth Market
WARREN, Mich., Nov. 30 /PRNewswire-FirstCall/ -- Asset Acceptance
Capital Corp. (NASDAQ:AACC) today announced the opening of a new
legal and call center collections operation in Chicago. Located
near Asset's previous operation, the new office will provide room
for a workforce of more than 200, 80% of which is dedicated to
collections activity. The new 20,905-square-foot facility offers
employees on-site training facilities, new office equipment and
offices for key members of site management. With approximately
three times the square footage of the previous space, the new
Chicago location represents yet another stage of Asset's stated
growth strategy in key regional markets. The opening of the new
Chicago location is the latest opening since the unveiling of
Asset's corporate headquarters in February 2005 in Warren, Mich.
"Chicago has always been a growth market for our legal and call
center collections efforts," said Brad Bradley, CEO and president
of Asset Acceptance. "Our investment in the Chicago office is part
of our stated long- term strategy of investing in geographies that
have the potential to become substantial contributors to our
bottom-line. In keeping with our ongoing hiring and retention
initiatives, we are actively recruiting experienced account
representatives from the Chicago area to assist in our expanded
call center operations." Asset currently has ten offices in eight
states, all of which house either call center or legal collections
operations. Highlighted by Asset's flagship 200,000-square-foot
headquarters and call center in Warren, Mich., the Company has
consistently shown a trend of smart facilities acquisition and
management. "By expanding our presence in a market where Asset's
collections expertise is already established, we are staying the
course in our commitment to managing and driving growth over the
long-term," said Bradley. "This new office space will help expand
our presence and keep Asset atop the industry as a leader in debt
collections." 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. DATASOURCE: Asset Acceptance Capital Corp.
CONTACT: Noel Ryan III of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, , for Asset Acceptance Capital Corp. Web site:
http://www.assetacceptance.com/
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