Press release from Business Wire
Arrow Named Asset Retirement Provider for Lenovo in North America
Thursday, April 18, 2013
Arrow Named Asset Retirement Provider for Lenovo in North America11:10 EDT Thursday, April 18, 2013
ENGLEWOOD, Colo. (Business Wire) -- Arrow Electronics Inc. (NYSE: ARW) announced an agreement with Lenovo designating Arrow as its “partner of choice” for a new asset retirement service offered at the point of sale. Through the agreement, Arrow's value recovery and recycling offerings can be bundled with new Lenovo equipment purchases.
Initially launching in the United States and Canada, this service is available to Lenovo's relationship customers in global accounts, public sector and large enterprise segments.
“Arrow is a trusted advisor that manages some of the most complex supply chain and logistics programs in the world,” said Ernie Keith, vice president of global services for Arrow. “We're pleased to be joining with Lenovo to offer a practical asset retirement solution for Lenovo customers that allows for more streamlined budgeting with the inclusion of disposal costs as part of the hardware purchase.”
Arrow's value recovery business provides specialized management of reverse material streams, IT asset disposition and remarketing services that enable technology users to uncover opportunities for greater efficiencies and value capture at the end of the IT product lifecycle.
The asset retirement service is managed through an online portal through which Lenovo customers can request pickups, view available credits, obtain real-time values for assets at any point in the lifecycle, and run a variety of reports on assets that have been or are being processed.
“This innovative service reflects Lenovo's commitment to provide affordable, convenient and strategic solutions for our customers,” said Bill DeLong, vice president of global services for Lenovo. “By replacing ad hoc disposal with a simple, convenient business process, this service enables our business customers to plan ahead for the secure and responsible decommissioning of their electronic assets, while also helping them recoup any residual value through the remarketing of used equipment. Our customers also will enjoy peace of mind knowing their materials will be handled safely and securely by Arrow.”
Asset disposition services supported by Arrow include secure logistics; data erasure, destruction processing and recycling according to rigorous standards; and comprehensive tracking and reporting for accounting and compliance purposes. In addition, Arrow evaluates, refurbishes and markets assets to help customers capture the highest possible return. Arrow has developed a global marketplace of diverse buyers to remarket quality refurbished IT assets.
“Arrow has made significant investments to become a tier-one leading provider of IT asset disposition, while Lenovo continued to outperform the market in enterprise PC shipments, making this agreement a good match,” said David Daoud, analyst, IDC. “This arrangement between these industry leaders provides a mechanism for addressing the secure and proper disposal of assets within a closed-loop lifecycle.”
About Arrow Electronics
Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 470 locations in 55 countries.
Dawn Small, 303-824-4188