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Pitney Bowes Acquires Selected Assets of Fala Sorting Services, Inc.
STAMFORD, Conn., April 18 /PRNewswire-FirstCall/ -- Pitney Bowes Inc. (NYSE: PBI - News) today acquired selected mail stream and presort assets of Fala Sorting Services, Inc. (FSS) a subsidiary of Fala Direct Marketing, Inc. FSS provides domestic and international presorting and commingling mailing services for mail produced in the greater New York area. The FSS assets will be integrated with the company's Mail Services operations which include PSI Group specializing in first and standard class domestic letter mail, and International Mail Express (IMEX) which provides international outbound mail services.
Fala Direct Marketing will continue to provide lettershop services with a greater emphasis on its core business and its expanding graphics and printing solutions. Fala Direct Marketing and the company have also signed a long-term marketing agreement to provide Fala's customers with access to pre-sort and international mail services through the Pitney Bowes Mail Services national network.
This transaction enables the company to continue to grow the value it provides to customers according to Michael J. Critelli, Chairman and CEO of Pitney Bowes. "Large mailers are looking for partners to help them manage the expense and enhance the efficiency of the business critical mail that they send worldwide. The addition of these assets to our Mail Services network will help us grow our customer value and reach. Fala's customers will benefit from their convenient access to our full range of mailing products and services and our nationwide network of strategic mail services locations."
Jeff Jurick, Fala Direct Marketing's CEO agrees, noting "Fala and Pitney Bowes have worked closely together over the years and have developed a great working relationship. Our client base will receive best in class service in their direct mail production through Fala Direct Marketing and they will continue to be served with best practices in their domestic and international sorting through the Pitney Bowes Mail Services network."
Pitney Bowes is the world's leading provider of integrated mail and document management systems, services and solutions. The $5 billion company helps organizations of all sizes efficiently and effectively manage their mission-critical mail and document flow in physical, digital and hybrid formats. Its solutions range from addressing software and metering systems to print stream management, electronic bill presentment and presort mail services. The company's 80-plus years of technological leadership have produced many major innovations in the mailing industry, and it is consistently on the Intellectual Property Owner's list of top U.S. patent holders. With approximately 35,000 employees worldwide, Pitney Bowes serves more than 2 million businesses through direct and dealer operations. More information on the company can be found at http://www.pb.com.
The statements contained in this news release that are not purely historical are forward-looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by their use of forward-looking terminology such as the words "expects," "anticipates," "intends" and other similar words. Such forward-looking statements include, but are not limited to, statements about growth strategies, market expansion, etc. Such forward- looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected.
These risks and uncertainties include, but are not limited to: severe adverse changes in the economic environment, timely development and acceptance of new products or gaining product approval; successful entry into new markets; changes in interest rates; and changes in postal regulations, as more fully outlined in the company's 2004 Form 10-K Annual Report filed with the Securities and Exchange Commission. In addition, the forward-looking statements are subject to change based on the timing and specific terms of any announced acquisitions. The forward-looking statements contained in this news release are made as of the date hereof and we do not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
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