American Automaker Saleen Sells Part of the Company

Rumors claiming Saleen Incorporated was looking to sell certain assets belonging to the company proved to be true today as the American automaker today confirmed that MJ Acquisitions is the new owner of certain parts, related to Saleen's supercharger, aftermarket and high-performance street vehicle divisions. However, the S7 and S5 Raptor vehicle divisions plus the paint operations will remain within Saleen Incorporated, the US-based car manufacturer said today.

More importantly, all remaining employees (it's well known the fact that Hancock Park Associates, the majority owned of Saleen, run the company will only a few employees) will lose their jobs. But even so, some workers may be re-employed by the new owner as the transition progresses.

"MJ Acquisitions and its affiliates are a group of true car professionals with vast experience in the engineering, production, assembly and distribution of performance and racing vehicles. This influx of new life into the Saleen, RaceCraft and SpeedLab brands is a win-win situation,” Saleen Inc. CEO Chris Theodore, who also lost his position within the company, said in a press statement.

"We moved on this purchase quickly to ensure that the process of delivering high-quality automobiles and components to the consumers is not disrupted," said Mike Shields, President and CEO of MJ Acquisitions. "We are working with the talented team from Saleen and our own experts to continue the quality, delivery, and performance the customer base and delalership network have come to expect from the Saleen brand. I am particularly excited about Saleen's supercharger experience and its synergies with Power-Tec's development of the next generation of superchargers."

Short-term plans of the new owner include the production of the 2010 Mustang for the Racecraft brand, plus a bunch of new Saleen models set for release in the third quarter of this year.


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