Pitney Bowes Signs Exclusive Agreement with Sure-Feed Engineering
Press release from the issuing company
DANBURY, Conn., March 26, 2001 -- Pitney Bowes (NYSE: PBI) today announced that it has entered into an exclusive agreement with Sure-Feed Engineering, Inc., a privately held inserting systems manufacturer headquartered in Tampa, Florida, to become the sole marketer and service provider for Sure-Feed's envelope inserting systems designs worldwide. This addition of Sure-Feed Engineering's products will complement and broaden Pitney Bowes' existing core offerings in the direct mail marketplace and expand the product mix in the high-speed transaction mail processing arena.
"This agreement significantly strengthens our offering for large, complex applications where processing speed (cycle speed) is critical," said Brian Baxendale, President, Pitney Bowes Document Messaging Technologies. "And by adding the Sure-Feed friction feed capability to the highly successful, swing-arm technology on our DM10 series, we become the leading edge technology supplier to the direct mail marketplace. No other company in this highly competitive arena can offer this complete package."
"This partnership supports Pitney Bowes' strategy to provide a complete range of customer focused incoming and outbound mail handling platforms and expands our customer base and extends our product offerings to provide true end-to-end physical and digital mail and messaging solutions," Baxendale added.
Jim Naset, Vice-President of Sure-Feed Engineering, Inc. said, "This agreement combines the innovative engineering resources present at Sure-Feed with the marketing, sales and service strength of Pitney Bowes to extend the market opportunities into higher speed transaction mail opportunities worldwide. We are very excited about the synergy provided by these combined resources."
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