Troy Michigan, February 2, 2009: MJ Acquisitions has announced the acquisition of certain assets of Saleen Incorporated, America’s premier automotive lifestyle brand, relating to Saleen’s supercharger, aftermarket and high performance street vehicle business. The purchase does not include the assets associated with the supercar (S7 or S5 Raptor vehicles) or the paint operations, which will remain with Saleen Incorporated. The terms of the deal were not disclosed.

The ownership of MJ Acquisitions controls a family of companies, which provide full service engineering, design, manufacturing, assembly and control systems for the automotive industry. It’s affiliated companies include Cyltec, LLC, Power-Tec Engineering, LLC, Arrow Racing Engines, LLC, and Control-Tec, LLC.
 
“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” said former Saleen Incorporated President Chris Theodore. “This influx of new life into the Saleen, Racecraft and SpeedLab brands is a win-win situation.”
 
Theodore noted loyal Saleen customers, dealers and enthusiasts can look forward to an exciting transition period.
 
“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 dealership 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”.
 
Immediate plans are to roll out the 2010 version of the newly designed Mustang for the Racecraft brand and commence other Racecraft designs for additional vehicles. Additionally, the Saleen brand will have a new design of the flagship S-Line that is in the works and scheduled for release in the third quarter.
 
MJ Acquisitions plans to gather input from the dealer network and representatives to establish the future product line. More announcements will be forthcoming.