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Speedemissions Closes Key Texas Acquisition: Expects 25% Increase
in Revenue in 2005
ATLANTA, Jan. 10 /PRNewswire-FirstCall/ -- Speedemissions, Inc. (OTC:SPEM)
(BULLETIN BOARD: SPEM) , a leading vehicle emissions testing and safety
inspections company announced that it has closed the acquisition of State
Inspections of Texas, Inc. of Houston, Texas effective December 30, 2004. State
Inspections, which operates under the name of Sticker Stop, has six emissions
testing and safety inspection stations in Houston and increases the number of
stores for Speedemissions to nine in the greater Houston market.
This is the fifth company acquired by Speedemissions in 2004, as the Company
aggressively pursues its business model of uniquely blending strategic
acquisitions in selected market areas, with organic growth in key geographic
locations. The Company now operates 25 stations in the Atlanta and Houston
markets. In addition, it operates seven Atlanta-based mobile vehicle emission
testing units which cover auto dealer and commercial fleet customers.
Rich Parlontieri, President/CEO of Speedemissions, stated, "This acquisition is
significant for several reasons. First, it should add over $1.0 million in
revenue to the Company in 2005 and thus accelerate our drive towards
profitability. Next, it puts us on the map among the state inspection leaders
in Houston with nine stations. Finally, it has the potential to open up the
market for other possible acquisition targets which would lead to expanding our
market presence, as well as increasing market share."
About Speedemissions, Inc. http://www.speedemissions.com/
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). Since the emissions testing 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. The Company expects to continue to rapidly expand 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: Jason Assad, Investor Relations of Speedemissions, Inc.,
+1-770-306-7667
Web site: http://www.speedemissions.com/