ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, April 3, 1997 TAG: 9704030050
SECTION: BUSINESS PAGE: B8 EDITION: METRO
Toyota files lawsuit to beat back Republic
DETROIT - Toyota Motor Corp. took its first legal step Wednesday to try to thwart billionaire H. Wayne Huizenga's plans to control a large chunk of its U.S. dealership network.
Huizenga's Republic Industries Inc. has been on a dealership buying spree, quickly becoming the largest new-car retailer in the nation. Toyota says Republic's ambitious plans pose a threat to all automakers, dealers and their customers.
``If Republic's rapid expansion should fail, it would leave Toyota and its customers without adequate sales and service representation in a significant number of markets,'' said Yale Gieszl, vice president of Toyota's U.S. subsidiary, Toyota Motor Sales USA Inc.
Toyota Motor Sales and its independent distributor in Texas, Gulf States Toyota, filed a petition with the Texas Motor Vehicle Board to block the sale of a Houston Toyota dealership to Republic.
``We see no merit in it, but are otherwise avoiding comment,'' Republic spokesman Jim Donahue said.
-ASSOCIATED PRESS
Ferrum bank buys land at the lake
The Bank of Ferrum has purchased property at the Lake Center in the Westlake Corner community of Smith Mountain Lake for its fifth office. Larry Heaton, president of the bank, said construction should begin within 30 days. He expects the branch to open in early fall.
The bank bought the land from Lake Area Development, according to Ralph Mabes and Ed Hall of Hall Associates Inc. of Roanoke, which represented the seller. They said Lake Area Development built the Food Lion Center, which is known as the Lake Center, at Westlake Corner.
-ASSOCIATED PRESS
LENGTH: Short : 42 linesby CNB