NAPLES, Fla., Aug. 29, 2011 /PRNewswire/ -- Fleet Management Solutions, Inc. (FMS) (Pinksheets: FLMG - News) is pleased to announce that the company has entered into a letter of understanding for the opening of their sixth location, a new repair and service center in the southern part of Athens, Greece. The company anticipates that this new location will generate gross revenue in excess of EU 4,000,000 or approximately $5,000,000 USD annually.
This new facility will be located in the southern part of Athens, Attica. This facility is in an optimum location with its close proximity to Athens, the fourth most populated capital city of the European Union, and the surrounding suburbs.
The building occupies a space of 4000 sq. meters of space and 7000 sq meters of parking. This new facility will create employment for up to 20 new people. With the addition of this facility, Fleet Management Solutions will bring its full time employees of the company to a total of 85.
The facility will offer Fleet Managements clients a wide range of services, including ongoing maintenance and accessories, as well as paint and bodywork capabilities.
This facility will be the sixth service center for the company and the fifth in the surrounding area of Athens.
The addition of this facility is expected to increase projected annual revenue by almost 25%, close to $15,000,000USD.
Evangelos Alexandris, CEO of Fleet Management Solutions, stated, "We are very excited with the new location. This facility will give us tremendous growth for the future with the opportunity to better service our existing clientele in both a logistical and expedited manner. This is a true indication, that even in the slow economic global environment, we have demonstrated to our shareholders, partners, and clientele that Fleet Management Solutions, Inc. is a solid company in any environment."
About FMS, Inc.: FMS Greece (http://www.fms-greece.com) is based in Athens, Greece and currently owns and operates five commercial locations with 65 full time employees. FMS provides a number of fleet management solutions in the automotive sector throughout the country and various parts of the Balkans. The Company was formed as a result of a merger between ABR Bosch Car Services, which was founded in 1992, and EDC Hellas S.A., which was founded in 1998 by EDC Holdings. With decades of experience, both companies identified an opportunity in the automotive market by providing fleet management services and solutions and subsequently formed FMS S.A.
The Company is focused on utilizing its vast automotive industry experience and its "state of the art" technologies to provide the very best turnkey services and solutions while significantly reducing costs for its client companies. FMS provides numerous comprehensive fleet management solutions such as online fleet management, maintenance programs, 24 hour roadside assistance, fuel management programs, insurance programs, license and title services, telematics and acquisition and lease buyout programs, and re-marketing of used vehicles.
Forward-looking Statement: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at FMS's stage of development. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Fleet Management Solutions, Inc.