GMAC buys Universal Warranty.(General Motors Acceptance Corp.)(Brief Article)

Automotive News, August, 2000

OMAHA, Neb. - General Motors Acceptance Corp. Insurance Holdings Inc. has bought a leading independent provider of extended service contracts, Universal Warranty Corp. of Omaha, Neb.

GMAC Insurance Holdings wants to get into the business of selling service contracts to non-GM-affiliated dealers, said Reece Micek, president of Universal.

Universal already has a close relationship with another GM subsidiary, Motors Insurance Corp. Motors Insurance provides the insurance that backs up Universal service contracts.

Micek stays on as president. John Micek Jr., Reece Micek's father, started the business that became Universal Warranty in 1964. He steps down as chairman but stays on as a board member.

Universal sells extended service...

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