GENCO Awarded Pharmaceutical Reverse Distribution Contract Valued at up to $38.4 Million
PITTSBURGH, Pa. - August 9, 2007 - GENCO today announced that its subsidiaries, Capital Returns, Inc. and GENCO Infrastructure Solutions, Inc. (Capital Returns/GENCO) were jointly selected by the Defense Logistics Agency, Defense Supply Center Philadelphia to provide reverse distribution for pharmaceutical, medical supplies and related waste materials dispensed by Department of Defense (DoD) and Veterans Affairs (VA) pharmacies. The joint DoD/VA joint contracting initiative is for five years and is valued at up to $38.4 million.
Under the indefinite delivery/indefinite quantity contract, Capital Returns/GENCO will manage and process expired or soon to be expired pharmaceuticals from DoD and VA Pharmaceutical Prime Vendor (PPV) programs. Facilities are located in the 48 contiguous states and outside the continental United States, including Alaska, Hawaii and overseas. "We are very pleased to be selected by the Defense Logistics Agency," said Herb Shear, chairman, president and chief executive officer of GENCO." This important award will help GENCO to demonstrate the value of integrating commercial best practices in support of this important government customer and build upon our leadership position in pharmaceutical returns." GENCO, the recognized leader in Reverse Logistics, is North America's second largest provider of supply chain services. The company manages over 30 million square feet of warehouse space for a diverse range of retail, manufacturing and government customers. The company provides a complete range of solutions, including contract logistics, reverse logistics, pharmaceutical services, product liquidation, transportation logistics, parcel negotiation & audits, damage research and government infrastructure support and base operations.
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