AllPennyStocks Featured Company: American Racing Capital, Inc. (AMRA.OB) Looking to Burn Rubber in 2008Friday, January 18th, 2008
American Racing Capital, Inc. (OTCBB: AMRA), a company that specializes in motor sports out of San Diego, acts through its subsidiaries to acquire financial interests in auto racing facilities and develop as well as manage the racetracks it already owns. They also focus much of their attention on motor sports sponsorship services, and bring an experienced team of promotional services into the racing industry. The company introduces companies that are interested in multiple levels of race team and racetrack sponsorship activities.
A key acquisition for the Company was having a subsidiary reach a deal to claim a 51-per-cent interest in Tennessee based LJ&J Enterprises, which own the Music City Motorplex in Nashville. With new plans for the future, the owners intend to convert the Motorplex into a concert venue during 2008 with half dozen events throughout the year. Last November, the company announced that they were going ahead by exercising the option to purchase Magnolia Motor Speedway in Columbus, Mississippi. If the deal is legitimized it amounts to a multi-million-dollar deal for American Racing Capital.
Shifting their focus south of the border, the company has been looking to design and build a Monte Carlo style Formula One track in Mexico. In 2006, American Racing Capital acquired Driving Concepts International, which gives the company the ability to expand its core competencies by adding a high-performance driver-training component.
President Bob Koveleski boasts more than 30 years’ experience in the marketing and advertising end of the specialty auto market. His experience also includes a stint at the head of a racing school at Pocono International Raceway, and steering the track’s bottom line by bringing in an entourage of sponsors to promote racing at Pocono. Bob has also done his share of racing himself, starting with quarter midgets at age five.
Let us hear your thoughts below: