Printer Friendly

SHAWMUT BANK ENTERS INTO LONG-TERM MARKETING PARTNERSHIP WITH DELAWARE NORTH

 BOSTON, May 20 /PRNewswire/ -- Shawmut Bank (NYSE: SNC) announced today that it has entered into a 15-year marketing partnership with Delaware North, the developers of the new arena which will replace the Boston Garden.
 The new arena will be called the Shawmut Center, a state-of-the-art facility that will usher in a new era in sports and entertainment in New England.
 Allen Sanborn, president of Shawmut Bank, commenting on the announcement said, "We are delighted to be Delaware North's partner in this exciting marketing venture. We believe this investment further demonstrates our commitment to Boston's economic revitalization. The Shawmut Center will be the cornerstone of Boston's economic revival. And, from the day it opens, our hope is that this building will become the center of civic and cultural activity for the region. We already know it will be the hub of New England sports."
 "The new Shawmut Center will be the much-needed new home for the traditions of the Celtics and Bruins. This state-of-the-art facility will also provide an opportunity to build new traditions for Boston as we enter the 21st Century," commented Sanborn.
 Expanding on Shawmut's decision making process, Sanborn explained that when the opportunity to sponsor the new arena was first presented to Shawmut, the bank identified several key criteria which the investment met:
 -- It provided a stimulus for economic growth in the region.
 -- It would improve the quality of life in our community through
 sports, entertainment, and cultural events.
 -- It enhanced Shawmut's existing marketing strategy.
 According to Hal R. Tovin, senior vice president and director of marketing, "This new relationship builds upon our overall marketing plan. It will enhance the brand name of Shawmut through signage, arena announcements, merchandising opportunities, promotional components and all communications associated with the usage of the name of this arena. The new Shawmut Center will be a landmark in our community and recognized across the nation."
 Shawmut further anticipates launching an ambitious community outreach program to tie long-range civic interests with the goals of the new arena that will include many charitable and community-based opportunities.
 The new Shawmut Center, with its increased seating capacity and physical improvements such as unobstructed views and full air-conditioning, will allow cultural enrichment far beyond sporting events. The new arena will permit many entertainment, family events, sports, cultural events and conventions to come to Boston that have bypassed the community in the past.
 With a seating capacity of 19,600, the new Shawmut Center will be able to offer seats to between 800,000 and 1.1 million more fans annually based on an expected 200 events to be held each year in the new arena. This is a projected annual economic impact of $125 million additional dollars flowing into the local economy.
 Shawmut Bank is a unit of Shawmut National Corporation with dual headquarters in Boston and Hartford, Conn. Shawmut National is a leading provider of financial services to consumers and businesses in southern New England through a network of more than 300 branches.
 -0- 5/20/93
 /CONTACT: Robert Guenther, 617-292-2802, Marjorie Seus, 617-292-3239, both of Shawmut National Corporation/
 (SNC)


CO: Shawmut National Corporation; Delaware North ST: Massachusetts IN: FIN, CST SU: CON

DJ -- NE010 -- 0709 05/20/93 11:02 EDT
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:May 20, 1993
Words:536
Previous Article:CHINA NORTHERN SELECTS PRATT & WHITNEY'S PW4000 ENGINES
Next Article:XEROX EXPECTS PROFIT GROWTH IN DOCUMENT PROCESSING IN '93; COMPANY'S CHAIRMAN TELLS SHAREHOLDERS CORE STRENGTHS OFFER OPPORTUNITIES
Topics:


Related Articles
DUFF & PHELPS: DUFF & PHELPS UPGRADES SHAWMUT NATIONAL CORPORATION
LOAN FUND AND AREA BANKS CREATE $7 MILLION POOL FOR HOUSING
SHAWMUT ENCOURAGES YOUNGSTERS TO SAVE USING THEIR AFFINITY FOR SPORTS AND THE BOSTON RED SOX
SHAWMUT ANNOUNCES EXECUTIVE VICE PRESIDENT APPOINTMENTS
SHAWMUT INTRODUCES TARGET SAVINGS, A GOAL-ORIENTED SAVINGS PROGRAM
SHAWMUT NATIONAL AGREES TO ACQUIRE GATEWAY FINANCIAL IN STOCK DEAL VALUED AT $152 MILLION
DUFF & PHELPS: SHAWMUT NATIONAL CORPORATION RATINGS UPGRADED
SHAWMUT AND AT&T ENTER $20 MILLION PACT FOR HIGH-TECH BANKING SERVICES
SHAWMUT NATIONAL NAMES TRANSITION TEAM LEADER FOR NEW YORK ACQUISITION
STANDARD MANAGEMENT INKS FINANCIAL DEAL

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters