PFSweb Signs New, Large National Brand Name Client and Leases 435,000 Square-Foot Distribution Facility to Provide Product Fulfillment
PFSweb Inc. (NASDAQ-PFSW) has signed a three-year contract to provide fulfillment services, inventory management, integrated reverse logistics and transportation management to a large, national Fortune 500, brand name consumer products client.
Plano, TX (August 30, 2004) –– PFSweb Inc. (NASDAQ: PFSW), a global provider
of integrated business process outsourcing (BPO) solutions, announced today that
it has signed a new three-year contract to provide fulfillment services for a
Fortune 500 consumer products client. The company also announced that in order
to meet the specific fulfillment requirements for this large contract, it has
entered into a three-year lease for a 435,000 square-foot distribution facility
in Southaven, MS, a short distance from its current approximately one million
square-foot distribution hub in Memphis, TN.
“We are very excited about
this new brand name client relationship,” said Mark Layton, senior partner and
chief executive officer of PFSweb. “Services will include inventory management,
fulfillment activities, integrated reverse logistics and transportation
management. We have already begun the implementation process in order to meet
the current timetable of providing services to this client by the first quarter
of 2005.
“We continue to be pleased with the progress we are making in
winning new business and with the expected positive impact these new contracts
will have on our future financial results,” Layton emphasized.
PFSweb
also has recently announced contracts with:
• Brillian Corporation
(NASDAQ: BRLC) of Tempe, AZ, a pioneering developer of high-definition
televisions, which is rolling out a new generation of rear-projection HDTVs.
• FLAVIA® Beverage Systems, a West Chester, PA-based supplier of
beverage systems and gourmet coffee, tea and other hot beverages. FLAVIA is an
affiliate company of Masterfoods USA, a Mars Incorporated company.
•
Raytheon Aircraft Company to perform fulfillment services at the Raytheon
Aircraft Parts Inventory & Distribution (RAPID) facility in Grapevine, TX
for customers in the Western Hemisphere.
“We currently expect to employ
approximately 100 persons on average at the new facility, expecting to bring our
total workforce to nearly 800 employees,” Layton said. “In addition, to meet our
obligations for this prominent client, we expect to incur capital expenditures
of approximately $4 million to $5 million, which we intend to finance through
leases or an incremental debt agreement,” he said. “Like our Memphis campus, the
new facility will be a highly progressive distribution center utilizing
state-of-the-art Siemens Dematic automated systems.”
Known as the “brand
behind the brand,” PFSweb provides seamless, transparent, “best-in-class”
supply-chain efficiencies and management for its Fortune 500 and Global 1000
clients. PFSweb currently warehouses, manages and fulfills more than $1 billion
annually in merchandise and transactions from its distribution facilities in
Memphis, Toronto and Liège, Belgium.
About PFSweb Inc.
PFSweb’s
comprehensive outsourcing solutions provide proven, fast and secure business
infrastructure to enable traditional and e-commerce strategies. PFSweb solutions
include professional consulting services, e-marketplace logistics, order
management, web-enabled customer contact centers, customer relationship
management, international distribution and fulfillment services, reverse
logistics, billing and collection services, kitting and assembly services and
ERP information interfacing utilizing its Entente SuiteSM.
PFSweb
develops and deploys integrated business infrastructure solutions and
fulfillment services for Fortune 1000, Global 2000 and brand name companies,
including third party logistics, call center support and e-commerce services.
The company serves such notable clients as Brillian Corporation, CHiA’SSO,
Dupont Fluoroproducts, Hewlett-Packard, IBM, NokiaUSA.com, Pfizer Inc., Raytheon
Aircraft Company, Roots Canada, Shell Energy Services Company, Smithsonian
Institution, Xerox and other brand name companies.
Safe Harbor
Clause
The matters discussed in this news release, particularly information
regarding future revenue, earnings, business plans and goals, consist of
forward-looking information within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are
subject to and involve risks and uncertainties, which could cause actual results
to differ materially from the forward-looking information. Such statements are
not guarantees of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. These statements are based on
assumptions and estimates that management believes are reasonable based on
currently available information; however, management’s assumptions and the
Company’s future performance are both subject to a wide range of business risks
and uncertainties, and there is no assurance that these goals and projections
can or will be met. Any number of factors could cause actual results to differ
materially. The Company undertakes no obligation to publicly update or revise
any forward-looking statements. All forward-looking information contained herein
is subject to the risk factors and uncertainties described in the Company’s
filings with the Securities and Exchange Commission, which risk factors and
uncertainties are incorporated by this reference as though fully set forth
herein.
To find out more about PFSweb Inc. (NASDAQ: PFSW), visit our
website at www.pfsweb.com
PFSweb is a registered trademark.
Entente Suite is a service mark of PFSweb. All rights reserved.
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Source : http://www.prweb.com/releases/2004/8/prweb153367.htm
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