Midas Will Enter Into Strategic Alliance With Magneti Marelli and Will Sell Its European Operations to Magneti Marelli.

Business Wire | October 1, 1998 | Copyright

CHICAGO--(BUSINESS WIRE)--Oct. 1, 1998--Midas, Inc. (NYSE: MDS), and Magneti Marelli, S.p.A., a member of the Fiat Group, announced today that a definitive agreement has been reached to form a strategic alliance to develop the Midas program in the business of fast auto service repair in Europe and South America.

Midas is one of the world's largest providers of automotive service, including exhaust, brakes, steering and suspension, as well as batteries and maintenance services. There are more than 2,700 Midas locations in 19 countries.

In Europe, Midas ...

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