Printer Friendly


 REDWOOD CITY, Calif., Sept. 27 /PRNewswire/ -- VeriFone Inc. (NASDAQ: VFIC), a leading worldwide supplier of Transaction Automation system solutions, today announced the achievement of two milestones in the company's environmental responsibility program:
 -- The implementation of environmentally conscious product
 packaging; and
 -- The elimination of chlorofluorocarbons (CFCs) from the company's
 manufacturing processes, as well as all incidental uses of CFCs
 in VeriFone manufacturing and distribution facilities worldwide.
 (CFCs are known to deplete the earth's protective ozone layer
 that filters out cancer-causing ultraviolet radiation.)
 "At VeriFone, we are committed to being 'doubly green' -- keeping both our balance sheet and our world healthy and strong," said James Palmer, vice president of operations for VeriFone. "Our environmental program demonstrates that corporate profitability and ecological responsibility can go hand in hand. Neither our CFC-free manufacturing nor our 'enviro-friendly' packaging are more expensive than conventional approaches, and the positive impact on our environment is significant."
 Environmentally Conscious Packaging
 VeriFone's "enviro-friendly" product packaging is the culmination of a year-long effort by an interdivisional task force. This approach incorporates 100 percent unbleached, corrugated cardboard, printed with non-metallic inks, and uses no polyfoam inserts. The new containers are non-toxic and completely recyclable. They are lighter and more compact than before, which reduces shipping costs.
 The new packaging makes its debut in the TRANZ(R) Pack, a systems packaging concept that combines a TRANZ 330 transaction system and a PRINTER 250 roll printer -- VeriFone's most popular product combination -- in a single box, along with a dual power supply and cables. The container is lighter and occupies much less space than the two products packaged separately, thereby reducing shipping costs and inventory shelf space requirements. The dual power supply decreases clutter at the point of sale.
 CFC-Free Manufacturing & Distribution
 In 1989, VeriFone became one of the first companies to adopt a precision "no-clean" fluxing process -- CFC-free -- for soldering of printed circuit assemblies used in its Transaction Automation systems. In 1992, the company formed a task force to identify and eliminate all incidental uses of CFCs from its manufacturing and distribution centers in Kaohsiung, Taiwan and Costa Mesa, Calif. VeriFone has now achieved this goal.
 VeriFone's Costa Mesa facility is the most dramatic example of VeriFone's environmental responsibility program. Starting with a conventional tilt-wall industrial building, the company determined that for relatively little additional capital cost, the 80,000 square-foot, leased building could be upgraded to incorporate many important "green" architectural features such as extensive insulation; energy-efficient lighting; computer-controlled heating, cooling and ventilation; and pervasive use of non-toxic materials in the structure and its furnishings. As a result of these innovations, the building uses 65 percent less energy than conventional facilities of equivalent size. Based on the energy savings, VeriFone expects to fully recover the additional capital investment in less than seven years, after which the investment will represent a net gain for the company. In July of this year, VeriFone was awarded a certificate of merit in Southern California Edison's Design For Excellence Awards Competition, co-sponsored by the California Energy Commission.
 The Company
 VeriFone Inc., based in Redwood City, is a leading global provider of Transaction Automation solutions used to deliver payment processing and other transaction services to the retail, healthcare and government markets. The company has more than 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- located throughout the United States and in or near Frankfurt; London; Madrid; Milan; Paris; Singapore; Sydney; Taipei and Kaohsiung, Taiwan R.O.C.; and Bangalore, India. To date, VeriFone has shipped more than 3.1 million Transaction Automation systems, which have been installed in over 70 countries. The company's 1992 revenues totaled $226.1 million. VeriFone was named one of the 200 best small companies by Forbes in 1991 and 1992, and one of the 100 best companies in California by California Business in 1992 and 1993.
 NOTE: TRANZ and VeriFone are registered trademarks of VeriFone Inc.
 -0- 9/27/93
 /CONTACT: David Barnes of VeriFone, 415-696-8823; or Beth Pampaloni of Wilson McHenry, 415-592-7600, for VeriFone/

CO: VeriFone Inc. ST: California IN: CPR SU:

SG -- SJ005 -- 5922 09/27/93 12:26 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:Sep 27, 1993

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