ARAMARK Uniform Services Acquires Majority of Associated Textile Rental Service's Uniform Rental Business; Company Significantly Increases Its Presence in Upstate New York.BURBANK, Calif. -- ARAMARK Uniform Services, a leading provider of uniform and career apparel, has acquired approximately 90 percent of Associated Textile Rental Service's uniform rental business. Associated Textile continues to provide textile rental and laundry services for the linen and hospitality market. Headquartered in Rochester, NY, Associated Textile Rental Service rents, leases and sells uniforms, career wear and linens to businesses throughout upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. . The acquisition includes rental services for uniforms and allied products, including mats, mops and shop towels. ARAMARK anticipates that the acquisition will add approximately $5.5 million to its annual revenue. The acquisition, which was completed on January 31, 2005, brings approximately 1,000 new business customers to ARAMARK Uniform Services. "Like ARAMARK, Associated Textile Rental Services has long been well regarded for its superior customer service and inventory control systems," said Stephen Donly, president of ARAMARK Uniform Services. "This acquisition further strengthens ARAMARK's ability to deliver a high level of customer care to businesses in Rochester and surrounding regions." About ARAMARK Uniform Services ARAMARK Uniform Services is a leading supplier of uniforms and career apparel, providing rental, purchase and lease programs to over 1.5 million people at more than 400,000 businesses. ARAMARK Uniform Services is a division of ARAMARK Uniform & Career Apparel Inc., a subsidiary of ARAMARK Corporation. About ARAMARK ARAMARK Corporation is a world leader in providing award-winning food and facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. services to health care institutions, universities and school districts, stadiums and arenas, international and domestic corporations, as well as providing uniform and career apparel. ARAMARK was ranked number one in its industry in the 2005 FORTUNE 500 survey and was also named one of "America's Most Admired Companies A yearly publication by Fortune Magazine, America's Most Admired Companies consists of corporations that are highly esteemed by the likes of Business Executives, Directors, and Analysts. A survey is taken of close to 3300 professionals who give their opinions on the companies. " by FORTUNE magazine in 2005, consistently ranking since 1998 as one of the top three most admired companies in its industry as evaluated by peers. Headquartered in Philadelphia, ARAMARK has approximately 242,500 employees serving clients in 19 countries. Forward-Looking Statements Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements, including prior forward-looking statements, to reflect the events or circumstances arising after the date as of which they were made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us. This press release includes "forward-looking statements" within the meaning of 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 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. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that might cause such a difference include: unfavorable economic conditions, ramifications ramifications npl → Auswirkungen pl of any future terrorist attacks or increased security alert levels; increased operating costs operating costs npl → gastos mpl operacionales , including labor-related and energy costs; shortages of qualified personnel or increases in labor costs; costs and possible effects of union organizing activities; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs; our ability to integrate and derive the expected benefits from recent acquisitions; competition; decline in attendance at client facilities; unpredictability of sales and expenses due to contract terms and terminations; the contract intensive nature of our business, which may lead to client disputes; high leverage; claims relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the provision of 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 ; costs of compliance with governmental regulations and government investigations; liability associated with non-compliance with governmental regulations, including regulations pertaining to food service, the environment, Federal and state employment laws and wage and hour laws; import and export controls and customs laws; dram shop 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. ; inability to retain current clients and renew existing client contracts; determination by customers to reduce outsourcing and use of preferred vendors; seasonality; and other risks that are set forth in the "Risk Factors," "Legal Proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. " and "Management Discussion and Analysis of Results of Operations and Financial Condition" sections of and elsewhere in ARAMARK's SEC filings. For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Legal Proceedings," "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", "Risk Factors" and other sections of ARAMARK's SEC filings, including, but not limited to, our 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 Form 10-Q See 10-Q. , copies of which may be obtained by contacting ARAMARK's investor relations Investor relations The process by which the corporation communicates with its investors. department via its web site www.aramark.com. |
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