Printer Friendly

FIRST UNION BRINGS RECYCLING FULL-CIRCLE BY PRINTING ANNUAL REPORT ON ITS OWN WASTE PAPER

 EDITOR'S NOTE: B-Roll of this unique recycling process is available. It will be run three times between 2 and 2:15 p.m. on these satellites: C band -- Galaxy 7-C - Transponder 18V; Downlink frequency 4060 mhz Ku band -- SBS6 - Transponder 7H; Downlink frequency 11872.0 mhz
 CHARLOTTE, N.C., March 17 /PRNewswire/ -- First Union Corporation (NYSE: FTU FTUpr) earned record income last year, but that isn't the only "first" reported in its 1992 annual report. The company is also one of the first in the country to close the recycling loop by reporting year-end results on its own recycled paper.
 First Union's 1990 and 1991 reports also were printed on recycled paper. But this year, the company went a step further by using 43 tons of its own office paper, recycled from its Charlotte headquarters.
 "We believe that First Union has a responsibility to the environment and to be a good corporate citizen," said Barbara K. Massa, senior vice president and director of Corporate Communications. "This is another way for First Union to show its commitment to improving the communities we serve."
 The company is also looking at other ways to use its own recycled paper, for products such as corporate letterhead and stationery. Employees in 879 First Union offices throughout the Southeast participate in the company's recycling program. Employees in Roanoke and Richmond, Va., will begin participating April 12.
 "We want to close the recycling loop by finding a way for First Union waste paper to go directly back into First Union products," said Bob Brudnicki, vice president of transportation and mail services, who helped spearhead First Union's recycling task force in 1990. "Our employees will be more encouraged to recycle when they can see the tangible results of their efforts."
 From the time that waste paper leaves First Union's doorstep, it goes through a number of hands before winding up at the printer. Paper for the 1992 annual report -- which was mailed to shareholders March 12 -- was collected during a four-week period in October and November.
 The 43 tons of waste paper was shipped to Mississippi River Corporation in Natchez, Miss., to be de-inked and converted to pulp. The pulp was then shipped to the Taylorsville, Ill., mill of Hopper Papers, a division of Georgia-Pacific, where the paper was produced. First Union then purchased the paper from Zellerbach, a paper distributor that played a key role in helping First Union set up and manage the process.
 "Zellerbach's goal is to work with business and the public to recover more clean, high-quality paper suitable for making printing papers," said Diane Tudor, Zellerbach specification sales representative. "First Union is the first company to enact our "Project: Full Circle," which allows a business to customize an office recycling program using its own office waste to create a new product, completing the link in the recycling chain. This is not a fad or a promotion, but a new way of doing business in the future."
 First Union uses approximately 300 million sheets of bond paper per year, not including forms and envelopes. Last year, First Union recycled more than 1,338 tons of that paper. So far this year, First Union has recycled 370 tons of paper. The waste paper is picked up by Jacksonville, Fla.-based Shred-All Document Processing from First Union offices throughout the Carolinas, Florida and Georgia.
 To encourage more employees to participate, First Union gives each person a small collection box to place conveniently in his or her work area. Large bins are located centrally in each department where employees can empty their boxes when full.
 "Our goal is to make recycling a part of their daily habits so everyone will participate," said Barry Grahek, Shred-All's regional manager in Charlotte.
 First Union established a recycling task force in 1990. Earlier task forces looked at ways the company could reduce its use of paper, resulting in a significant reduction of paper usage.
 The company's "Mission Statement on the Environment" says in part:
 "Americans produce more garbage than any country in the world. In fact, U.S. garbage is growing faster than the population, according to studies by the Environmental Protection Agency. An estimated 75 percent of the nation's landfills will reach capacity in the next 15 years. Much of the waste generated by an office building is marketable, recyclable paper. As a leading corporate citizen in the communities it serves, First Union has a responsibility to its environment and an opportunity to serve as a positive example for individuals, businesses and institutions. A well-planned recycling program can enhance a corporation's efficiency and cost effectiveness while preserving natural resources and conserving landfill space."
 Recycling programs by businesses like First Union reduce the need for landfill space, directly benefiting the counties and cities where they operate. In Mecklenburg County, for example, spending on trash disposal will have increased from $3.4 million in 1989, based on dump fees per ton of $18.50, to an estimated $23.2 million in 1993, based on dump fees per ton of $37.70.
 At Dec. 31, 1992, First Union Corporation reported assets of $51.3 billion, and operated 896 banking offices in Florida, North Carolina, South Carolina, Georgia and one banking office in Tennessee, 45 savings bank offices in Virginia, Maryland, the District of Columbia and Florida, and 190 nonbanking offices in 36 states and the District of Columbia. When pending acquisitions have been completed during the first half of 1993, the corporation will operate approximately 1,474 banking offices and have assets of approximately $71 billion, based upon Dec. 31, 1992 assets, making it the nation's eighth largest bank holding company.
 -0- 3/17/93
 /CONTACT: (Media) Sandy Deem of First Union Corporation, 704-374-2710/
 (FTU)


CO: First Union Corporation ST: North Carolina IN: FIN SU:

MM -- CH003 -- 6868 03/17/93 08:03 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 17, 1993
Words:971
Previous Article:CELLULAR ONE DEMONSTRATES POCKET- AND NOTEBOOK-SIZED WIRELESS VOICE AND DATA TECHNOLOGIES
Next Article:IDI ANNOUNCES NEW DESKTOP DOCUMENT MANAGEMENT PRODUCT
Topics:


Related Articles
AT&T ANNOUNCES RESULTS OF ENVIRONMENTAL PROGRAMS; 'RAISES THE BAR' ON ITS PAPER RECYCLING EFFORTS
AT&T ANNOUNCES RESULTS OF ENVIRONMENTAL PROGRAMS; 'RAISES THE BAR' ON ITS PAPER RECYCLING EFFORTS
'CLOSING THE LOOP ON RECYCLED PAPER'
FIRST UNION TAKES RECYCLING A STEP FURTHER IN 1993 ANNUAL REPORT
CHRYSLER EXTENDS RECYCLING EFFORT TO 1993 ANNUAL REPORT
CHRYSLER EXTENDS RECYCLING EFFORT TO 1993 ANNUAL REPORT
FIRST UNION "GOES GREEN" AS RECYCLING EFFORTS EXPAND
FIRST UNION ANNUAL REPORT WINS NATIONAL AWARD FOR THE FOURTH TIME
Cal/EPA Announces Oil Company Partnership To Protect Waterways and Beaches.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters