Triples Initial Contract
Companies: Fleet Management Solutions
Source: Fleet Management Solutions Inc.
On Wednesday February 24, 2010, 6:26 am EST
FL–(Marketwire – 02/24/10) – Fleet Management Solutions Inc. (Pinksheets:FLMG
(“FMS” or “the Company”) is pleased to announce that one of
its client companies, ATE Rent S.A. of Athens, Greece, which specializes in the
operation of leasing passenger cars, has increased the size of its initial
contract with FMS by over 200% in just over 5 months.
initial contract between FMS and ATE Rent S.A., a Greece-based financial
institution, was signed in August 2009 for the after sales servicing and
management of its fleet of 225 vehicles. Following the success of the initial
contract, ATE Rent S.A. has amended the contract to include an additional 452
leased vehicles for a total fleet of 677.
part of the agreement, FMS provides full management of the fleet including
accident and breakdown repairs, the provision of replacement vehicles, and
regular and scheduled maintenance. The total value of the contract is expected
to exceed US$800,000.
Mr. Alexandris stated, “We are very pleased with this new contract. It is
our way of showing our shareholders and partners that we are moving in the
Fleet Management Solutions Inc.
in Athens, Greece, Fleet Management Solutions (FMS) currently owns and operates
3 commercial locations with 26 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. By combining decades of experience,
FMS was formed and is focused on providing fleet management services and
solutions in the automotive aftermarket. 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. FMS utilizes
authorized dealership networks and the BOSCH Car Service Network with 120
service locations in Greece.
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
Fleet Management Solutions Inc.
40 Kifissou Ave.
Renti, Athens 18233
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