TSX-V Trading Symbol: FSN
CALGARY, Oct. 21 /PRNewswire-FirstCall/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA" or the "Company") announced today that it has entered into franchise agreements for locations servicing LaGuardia Airport in New York, and McCarran Airport in Las Vegas. The Company also reported that their master franchisee for Mexico has sold a sub-franchise operating at San Jose del Cabo International Airport in Mexico.
Bob Barton, the Company's President and Chief Operating Officer, stated, "We are pleased to announce the continued success we are experiencing in franchise sales. With these three locations, we have now opened nine (9) new airport locations and eight (8) local market stores in calendar year 2009." These three new locations were all opened subsequent to the September 30 end of our fiscal year and will be reflected in the operating results of the Company's first quarter of fiscal 2010.
FSNA is a publicly traded company listed on the TSX Venture Exchange. The Company and its subsidiaries own the following brands: U-Save Car & Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center ("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has over 1,100 locations throughout the United States and is one of North America's largest franchise car rental companies. Having primarily serviced the local market for the past 25 years, the Company is expanding into the airport market with plans for the opening of airport locations in the top 30 leisure markets in the United States and the major airports in Canada. U-Save currently services 38 airport markets in 14 different states and 7 different countries. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R) system operates a network of 57 franchises from coast-to-coast in Canada, providing a range of vehicle rental, leasing and sales options to its customers. The Rent-A-Wreck(R) system has been in continuous operation in Canada since 1976.
Certain statements made in this news release are forward looking in nature. The words "may," "could," "should," "would," "expect," "intend," "estimate," "anticipate," "believe," or "outlook" and similar expressions often identify forward-looking information. By their nature, forward-looking statements require FSNA to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions and projections will not prove to be accurate, that FSNA's assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections. FSNA's forward-looking statements are qualified in their entirety by these cautionary statements. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, FSNA undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Franchise Services of North America Inc.