Speedemissions Acquires Mobile Vehicle Emission Testing Units to Continue Its Growth Plan
December 02 2004 - 1:26PM
PR Newswire (US)
Speedemissions Acquires Mobile Vehicle Emission Testing Units to
Continue Its Growth Plan ATLANTA, Dec. 2 /PRNewswire-FirstCall/ --
Speedemissions, Inc. (OTC:SPEM) (BULLETIN BOARD: SPEM) , a vehicle
emissions testing and safety inspections company, announced that it
is again expanding its business through the acquisition of SIT,
Inc.'s Atlanta based EMI Mobile Testing Units. This acquisition
enhances a unique business segment for Speedemissions in bringing
the auto emission testing to the fleet customer. EMI's Mobile
Testing Unit is Atlanta's largest with five mobile testing vehicles
for the new and used car dealers. Based on their 2004 numbers,
these mobile vehicles are expected to add about $500,000 in
additional revenue to Speedemissions. The Company will now have six
mobile vehicles covering the market. Along with this acquisition,
Speedemissions has hired Donald Keener as Sales Manager to further
develop this fleet and car dealer business for the 13 county metro
area. Mr. Keener has over 20 years of experience in the selling of
key corporate accounts throughout the Atlanta market.
Speedemissions is also expanding its Atlanta area presence by
opening another organic store. Its 17th Atlanta store is located at
the Auto- Indulgence Car Wash Center in Alpharetta, Georgia and
will open the first week of December. This free-standing kiosk
testing station will expand the customer service experience at the
car wash. Rich Parlontieri, CEO of Speedemissions, said, "We are
continuing to look at business growth opportunities. This fleet of
mobile testing vehicles allows us to now rapidly expand our
capabilities in this fast growing segment of the emissions testing
business. Also, the addition of Don, who brings a wealth of
national sales experience and management to the job, should make us
better able to achieve our goals in this part of the vehicle
emissions test market. Further, we plan to take advantage of those
opportunities that fit into our business model, quickly adding
volume and cash flow to our bottom line". About Speedemissions:
Speedemissions, Inc., based in Atlanta, Georgia, plans to become
the leading vehicle emissions (and safety inspection where
required) company in the United States in areas where auto testing
is mandated by the Environmental Protection Agency (EPA). The
market is highly fragmented. Speedemissions expects to be the first
company to create a national brand offering their customers quick
and efficient vehicle emissions testing service. The initial focus
of the company is in the Atlanta, Georgia and Houston, Texas
markets. They expect to continue rapidly expanding store sites.
Certain statements contained in this news release regarding matters
that are not historical facts may be forward-looking statements.
Because such forward-looking statements include risks and
uncertainties, actual results may differ materially from those
expressed in or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but
are not limited to, uncertainties pertaining to continued market
acceptance for Speedemissions' products and services, its ability
to succeed in growing revenue, the effect of new competitors in its
market, integration of acquired businesses, and other risk factors
identified from time to time in its filings with the Securities and
Exchange Commission. DATASOURCE: Speedemissions, Inc. CONTACT:
Richard Parlontieri, CEO-President of Speedemissions,
+1-770-306-7667 Web site: http://www.speedemissions.com/
Copyright