Printer Friendly
The Free Library
19,573,962 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

ARAMARK Gains Momentum in Facility Services by Expanding Client Relationships.


Business Editors

PHILADELPHIA--(BUSINESS WIRE)--May 17, 2002

ARAMARK (NYSE NYSE

See: New York Stock Exchange
:RMK RMK Remark (Weather METAR)
RMK Rocky Mountain King (Polaris Snowmobiles)
RMK Remarks
RMK Resource Manager Kernel
), a world leader in managed services, continued its success in expanding relationships with its existing clients by providing facility and other support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services  through its ARAMARK ServiceMaster Facility Services business.

ARAMARK expanded its contract with Paxar Corporation's Dayton, Ohio location. Paxar is a global leader in providing personnel identification and tracking solutions. Annual sales of the new contract are initially estimated at $3.2 million with an initial term of five years. The new contract calls for ARAMARK ServiceMaster to provide plant operations and maintenance, custodial, grounds, mailroom services and equipment maintenance. ARAMARK has provided Paxar with food and vending services for the last 26 years.

The company secured a new contract with Advocate Good Samaritan Hospital Good Samaritan Hospital may refer to:

In the United States:
  • Good Samaritan Hospital (Bakersfield) — Bakersfield, California
  • Good Samaritan Hospital (Los Angeles) — Los Angeles, California
 in Downer's Grove, Ill. The new contract calls for ARAMARK, through its ARAMARK ServiceMaster Facility Services business, to manage food services food services Hospital services A 24/7 department in a hospital that provides for the nutritional needs of inpatients–eg, those needing special diets, preparing meals and transporting them to the floor and, through the cafeteria, the hospital staff and  and facility services, including plant operations and maintenance and housekeeping. Annual sales of the contract are initially estimated at $1.2 million with an initial term of five years. The new contract expands ARAMARK's existing partnership with Advocate Health System, for which it currently provides food and facility services for both Advocate Lutheran General Hospital Advocate Lutheran General Hospital, located in the Chicago suburb of Park Ridge, Illinois is a Level I trauma center. Their emergency room treats about 1,000 patients a week. A teaching hospital with over 600 beds, it consistently ranks highly in various surveys.  in Park Ridge, Ill. and Advocate Trinity Hospital in Chicago, Ill.

ARAMARK ServiceMaster also secured two new environmental services contracts with Inova Fairfax Hospital Inova Fairfax Hospital is the largest hospital in the Washington D.C. area. Located in Fairfax County, Virginia, Inova Fairfax Hospital is the flagship hospital of Inova Health System, one of the largest employers in Fairfax County.  and Inova Fair Oaks Hospital, located in Fairfax and Fair Oaks, Va., respectively. Annual sales of the new contracts are initially estimated at $760,000 combined, with a term of five years. The new contracts expand ARAMARK's existing partnership with Inova Health System Inova Health System is a non-profit health organization based in Northern Virginia, USA. Hospitals under Inova provide most of the healthcare needs for citizens in Northern Virginia. The flagship hospital, Inova Fairfax Hospital, has won acclaims as one of the best hospitals in the nation. , for which it currently provides Inova Alexandria Hospital in Alexandria, Va., with environmental services and Inova Mount Vernon Hospital Mount Vernon Hospital is one of two hospitals run by The Hillingdon Hospital Trust. Together with West Hertfordshire Hospital Trust and East and North Hertfordshire Trust it provides specialist non-surgical cancer services and a burns unit.  in Mount Vernon, Va., with food and environmental services.

St. Bernard St. Bernard

a very large (110-200 lb) dog with massive, broad head, medium-sized ears lying close to the head, and a long tail. There are two varieties, the most familiar (rough) has a long, thick coat, while the smooth variety has a shorter coat, lying close to the body.
 Hospital in Chicago, Ill., signed a new food services contract with ARAMARK ServiceMaster. Since 1998, ARAMARK ServiceMaster has managed facility services for the hospital. Annual sales of the expanded contract are initially estimated at approximately $808,000 with an initial term of two years. ARAMARK will continue to handle plant operations and maintenance.

ARAMARK ServiceMaster expanded its partnership with Silver Cross Hospital in Joliet, Ill. Annual sales of the new contract are initially estimated at $250,000 with an initial term of five years. The new contract calls for ARAMARK to manage plant operations and maintenance services. The company has provided Silver Cross Hospital with clinical equipment services since 1994.

"Our ongoing success in facility services confirms our value and leadership position in this business," said Joseph Neubauer, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of ARAMARK. "We appreciate the opportunity to expand existing partnerships and establish new relationships with clients in facility services."

As a leading provider of facility services, ARAMARK ServiceMaster Facility Services serves the healthcare, education, business and industry sectors in the U.S. and Canada and via licensees in approximately 25 other countries. The business has annual net sales Net Sales

The amount a seller receives from the buyer after costs associated with the sale are deducted.

Notes:
This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight
 of approximately $1 billion and provides a complete range of services including environmental, clinical equipment maintenance, facilities management, facilities engineering and capital program management.

About ARAMARK

ARAMARK is a $9 billion world leader in providing managed services, including food, facility and other support services, uniform and career apparel and childcare and early education. ARAMARK has leadership positions serving the business, education, healthcare, government, sports and recreation sectors. ARAMARK is rated No. 1 in the outsourcing services category and is among the Top 50 companies overall in FORTUNE Magazine's 2002 "Most Admired Companies in America." Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving customers in 17 countries.

Forward-Looking Statements

The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 provides a safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 from civil litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 for forward-looking statements that reflect our current views as to future events and financial performance with respect to our operations. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "aim," "anticipate," "estimate," "expect," "will be," "will continue," "will likely result," "project," "intend," "plan," "believe" and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

Factors that might cause such a difference include: unfavorable economic conditions, including ramifications ramifications nplAuswirkungen pl  of the September 11th terrorist attacks and other terrorist attacks, increased operating costs, shortages of qualified personnel and other factors leading to increased labor costs, costly compliance with governmental regulations, currency risks and other risks associated with international markets, risks associated with acquisitions, including our ability to integrate and derive the expected benefits from our acquisition of ServiceMaster Management Services and other acquisitions, competition, decline in attendance at client facilities, unpredictability of sales and expenses due to contract terms, significant leverage, claims relating to the provision of food services, liability associated with non-compliance with governmental regulations, including regulations pertaining to food services, the environment and childcare service, seasonality and adverse publicity concerning incidents at childcare centers.

For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Management's Discussion and Analysis Management's discussion and analysis (MD&A)

A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial
 of Results of Operations and Financial Condition" and "Risk Factors" sections of ARAMARK's SEC filings, including, but not limited to, its annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK's investor relations department at www.aramark.com.

Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 17, 2002
Words:1049
Previous Article:Thunderbird Announces Fiscal 2001 Results.
Next Article:ADVISORY/Pizza Hut Responds to CSPI ``Study''.
Topics:



Related Articles
ARAMARK Expands Agreement With Major Healthcare Alliance.
ARAMARK Reports Second Quarter Sales and Earnings.
ARAMARK To Partner With the University of Pennsylvania for Residential Food Service.
ARAMARK to Provide Facility Services for Plano Independent School District.
ARAMARK To Acquire Operations of Fine Host Corporation.
ARAMARK Selected by University of Michigan to Provide Building Commissioning.
ARAMARK Announces New Facility Services Contract, Expands Partnership with Baptist Health Care.
ARAMARK Expands Partnership With Airbus Deutschland; Relationship Marks Company's Largest German Account.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles