According to Edmund's Inside Line, MJ Acquisitions has acquired some of Saleen's assets, including the supercharger, aftermarket and high-performance street vehicle business.

Current Saleen CEO, Chris Theodore, also confirmed that the purchase by MJ Acquisitions does not include assets associated with the S7 and S5 Raptor vehicles or the paint operations.

"We moved on this purchase quickly to ensure that the process of delivering high-quality automobiles and components to the consumers is not disrupted. We are working with the talented team from Saleen and our own experts to continue the quality, delivery, and performance the customer base and delalership 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 (a division of MJ) 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. The new Mustang is shipping from Ford later this month. Additionally, the Saleen brand will have a new design of the flagship S-Line that is already in the works and scheduled for release in the third quarter of 2009.

Additionally, the Saleen brand will have a new design of the flagship S-Line that is already in the works and scheduled for release in the third quarter of 2009.

MJ Acquistions says that it does plan to work with the dealer network and others to establish the future product line.