PHOENIX, Aug. 4 — Universal Technical Institute, Inc. (NYSE: UTI) (the "Company"), the leading provider of technical education training, announced today that the Company has renewed its training agreement with Mercedes-Benz USA (MBUSA). As part of the agreement, UTI will continue to provide automotive and collision repair training for Mercedes-Benz dealer personnel at the Mercedes-Benz Learning & Performance Center and Collision Center in Houston, Texas, which are both operated by UTI on behalf of MBUSA.
In addition, UTI instructors will continue to provide technical and retail training at select Mercedes-Benz sites across the country. UTI will also assist MBUSA to launch the STARt program, a 12 week Mercedes-Benz elective program targeted to training top students in its automotive program.
Hendrik Hynekamp, general manager of the MBUSA Learning & Performance department, said, "In today’s rapidly changing business environment, MBUSA looks for ways to be fast and agile to best support the Mercedes-Benz dealer network. In order to create learning opportunities that meet the dealers’ business needs, we rely on UTI instructional staff to augment our overall training capacity for our dealer organization."
Kim McWaters, Chief Executive Officer of Universal Technical Institute, commented, "We are pleased to announce the continuation of this successful relationship. The Mercedes-Benz STARt program will provide greater opportunities for our students and a lower cost solution to the Mercedes-Benz dealerships."
MBUSA has a long-standing relationship with UTI that spans over a decade, including collaboration in advisory boards, the ELITE Program, and most recently with the STARt program.
About Universal Technical Institute
Universal Technical Institute is the leading provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as measured by total average undergraduate enrollment. The company offers undergraduate degree, diploma and certificate programs at 10 campuses across the United States. Through its campus-based school system, Universal Technical Institute offers specialized technical education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NTI). We routinely post important information about us on our web site at www.uti.edu under the "About Us – Investors – Information" captions.
About Mercedes-Benz USA
Mercedes-Benz USA, headquartered in Montvale, New Jersey, is responsible for the sales, marketing and service of all Mercedes-Benz and Maybach products in the United States. MBUSA offers drivers the most diverse line-up in the luxury segment with 12 model lines ranging from the sporty C-Class to the flagship S-Class sedans and CL coupes. More information on MBUSA and its products can be found at www.mbusa.com and www.maybachusa.com.