SPEEDY EXPANDING INTO ASIA
By Adnews Staff
Toronto-based Speedy Muffler King is heading into the Asian market for the first time in the second half of the year. The company has signed a licensing agreement with a new South Korean company that plans to open two stores in Seoul by the end of the year and 40 more outlets by 2001. Speedy will lend its name and its technology to the venture in exchange for a licensing fee and royalties, but it will not invest in the company. Speedy has over 1,000 company-owned outlets in North America and Europe. It generates 90% of its revenue outside of Canada.
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