Speedemissions Inc. has announced the signing of a letter of intent (LOI) with First United Equity to open vehicle emission-testing facilities in major retailer parking lots. The management of Atlanta-based Speedemissions calls the pact a major expansion in its business model.
Plans call for the opening of as many as 24 emission-testing facilities over the next two years. This would be accomplished in three phases, with the first eight to 10 stores opening in early 2014 and continuing through 2015.
These facilities are designed to provide an easy, convenient way for shoppers to get their vehicle-emission testing done while patronizing the retailers in a given center. In addition, these facilities will sell a variety of related automotive merchandise.
Rich Parlontieri, president and CEO of Speedemissions, said First United Equity has a successful track record in joint ventures such as this with large retail chains. “Now that we’ve agreed to move forward with this LOI, we are very enthused about this new venture and the opportunity we have to carve out a special niche in the test-only market,” Parlontieri explained. “Coupled with our recent commitment to the SpeedEmissions Car Care Stores, we’re encouraged that the company will remain a leader in the vehicle emission testing marketplace.”
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