Press Releases and News

GRAND OPENING CELEBRATION AT NEW MIDAS SPEEDEE SHOP IN SAN JOSE


San Jose, California. (June 16, 2010) – The co-branded Midas SpeeDee automotive service center at 1825 E. Capitol Expressway, here, will stage a grand opening celebration on Saturday, June 26th.

The existing SpeeDee Oil Change and Tune-Up shop, known for its quick oil change services is being transformed into a Midas SpeeDee cobranded franchise. In addition to providing SpeeDee services, the shop will now offers Midas’ full range of automotive repair and maintenance services. The Midas SpeeDee cobranded shop has four service bays.

Sher Khan and Fayaz Asghar, the owners of the now Midas SpeeDee, have been SpeeDee franchisees for over 14 years and manage a staff of 13 who are being trained on all of Midas’ services and procedures.

Grand opening festivities on Saturday from 10:00 a.m. until 2:00 p.m. will include free food and refreshments, great savings on services and a visit from Mr. SpeeDee, the SpeeDee Oil Change and Tune-Up mascot.

“This co-branding strategy is extremely exciting because it enables both Midas and SpeeDee to benefit from the strengths of the two brands’ respective service offerings to provide the three most frequent vehicle maintenance services—oil changes, brakes and tires,” said William M. Guzik, Midas’ executive vice president.

The San Jose/Capital shop is open weekdays from 8:00 a.m. until 6:00 p.m., Saturdays from 8:00 a.m. until 5:00 p.m., and Sundays 9:00 am until 4 p.m.

In April 2008, Midas, Inc., the automotive service provider based in Itasca, Ill., acquired the franchisor of the New Orleans-based SpeeDee system, which has 100 quick-lube and maintenance outlets in the United States and 57 in Mexico. At the time of the acquisition, Midas officials announced the company’s plan for the eventual co-branding of Midas and SpeeDee outlets in locations nationwide where there is not overlap of existing shops. Midas has nearly 1,650 shops in the United States and Canada, and 800 in 13 other countries. SpeeDee’s U.S. shops are located in 13 states primarily in the northeast, mid-Atlantic, southern coastal states and the far west.

Midas, founded in Chicago in 1956, is one of the world’s largest providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,400 franchised, licensed and company-owned Midas shops in 15 countries, including nearly 1,650 in the United States and Canada. Midas also owns the SpeeDee Oil Change business, which franchises 173 auto service centers in the United States and Mexico.

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Midas SpeeDee Shop
1825 E. Capitol Expressway
San Jose, California 95121
(408) 531-0701

6/16/10

CONTACT: Bob Troyer (630) 438-3016