BENSALEM, Pa., May 15, 2003 (PRIMEZONE) -- SDI (Strategic Distribution, Inc.) (Nasdaq:STRD) has announced that The New York City Department of Education (NYCDOE) has selected the company to provide integrated supply chain services for custodial supplies at NYCDOE facilities. The agreement calls for SDI to provide custodial and related services to the school system. This was the second time the company was selected to provide supply chain services to the NYCDOE. Earlier this month, SDI was selected to provide integrated supply chain services for maintenance, repair, and operations (MRO) materials at the main NYCDOE warehouse facility. The parties are currently negotiating the final details of both agreements.
SDI will serve as an integrated supplier of custodial supplies used in the care and cleaning of the more than 1,200 schools in the New York City public school system. The agreement, once finalized, will enable the NYCDOE to obtain significant savings through SDI's comprehensive supply chain management solution, which provides standardization, consolidated sourcing, reduced transaction costs, and inventory management. These services are designed to decrease inventory levels and increase product availability.
According to Donald C. Woodring, CEO for SDI, "SDI's integrated supply solutions and leading edge technology have proven successful in helping educational institutions increase productivity and reduce total costs. Today's tight budgets require that school systems operate leaner and smarter. SDI is pleased to help the NYCDOE lead the way toward operating efficiency among educational institutions."
SDI helps customers optimize their business performance and meet strategic goals by providing technology and supply chain solutions to increase productivity and reduce total costs. Commercial and industrial customers, as well as educational institutions, benefit from reduced costs and increased efficiencies in the procurement and management of maintenance, repair and operating (MRO) materials. Additional information about SDI and its In-Plant Store(r) program can be found on the company's Web site at www.in-plantstore.com.
The foregoing paragraphs contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company's actual results could differ materially from those set forth in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Management's Discussion and Analysis of Financial Condition and Results of Operations in the company's 2002 annual report as filed on Form 10-K with the Securities and Exchange Commission.