ECD Auto Design Acquires Assets From Brand New Muscle Car
The acquisition allows ECD to begin producing American classic cars...
ECD Auto Design (Nasdaq:ECDA) has completed its acquisition of certain assets from Brand New Muscle Car, a premier builder of classic American muscle cars, for restricted stock of ECD to be valued at $1.25 million on the date of issuance.
Scott Wallace, CEO of ECD Auto Design said, “We are excited to complete our first acquisition as a publicly traded company and to begin designing and selling custom, one-of-one classic Ford Mustangs, among several other classic American muscle cars. The production of Mustangs will add a third production line to the company’s 100,000-square-foot Kissimmee, Florida facility.“
Production will begin in May, officials reported, with the first new product rolling off the line in August.
“We are thrilled to have the opportunity to design and build some of the most iconic muscle cars in history through our unique and industry-leading client design process,” Wallace continued.
