NORCROSS, Ga.--(BUSINESS WIRE)--Feb. 5, 2013--
FleetCor Technologies, Inc. (NYSE: FLT), a leading global provider of
fuel cards and workforce payment products to businesses, today announced
the successful implementation of its Global FleetNet (GFN) fuel card
processing system for Shell in the Philippines.
Shell selected FleetCor’s GFN platform as its global standard to be
implemented in up to 35 Shell markets in Asia and Europe during 2013/14.
This initial implementation is part of a 10-year contract with Shell
that FleetCor has, in partnership with CGI - one of the leading
independent information technology and business process services firms
in the world. Future plans include the further deployment of GFN in
seven additional Shell Asia markets and 27 European territories during
“The successful GFN deployment in the Philippines in conjunction with
CGI is quite meaningful. It confirms that our GFN system is fully
capable of operating at the heart of a total platform solution that can
meet the needs of large multi-national, multi-currency clients,” said
Ron Clarke, FleetCor Chairman and CEO. “We further expect that this
initial implementation will attract additional outsourcing business to
the FleetCor and CGI service from around the world, which in turn gives
FleetCor the ability to build deeper relationships with and value for
those partners in the fuel card space.”
FleetCor began developing GFN in 2008 and has invested significantly to
bring the platform to market.
FleetCor is a leading global provider of fuel cards and workforce
payment programs to businesses. FleetCor’s payment programs enable
businesses to better control employee spending and provide
card-accepting merchants with a high volume customer base that can
increase their sales and customer loyalty. FleetCor serves commercial
accounts in North America, Latin America, and Europe. For more
information, please visit www.fleetcor.com.
This press release contains forward-looking statements within the
meaning of the federal securities laws. Some of these statements include
those regarding the future deployment of GFN, acquisition of more fuel
card outsourcing business from major partners, and any other statements
about management’s future expectations, beliefs, goals, plans or
prospects. Statements that are not historical facts, including
statements about FleetCor's beliefs, expectations and future
performance, are forward-looking statements. Forward-looking statements
can be identified by the use of words such as "anticipate," "intend,"
"believe," "estimate," "plan," "seek," "project" or "expect," "may,"
"will," "would," "could" or "should," the negative of these terms or
other comparable terminology. There are a number of important factors
that could cause actual results or events to differ materially from
those indicated by such forward-looking statements, including
difficulties integrating the acquisition or a failure to attain
anticipated operating results, which could affect the accretiveness of
the acquisition, and the other factors described in FleetCor’s periodic
reports filed with the Securities and Exchange Commission. FleetCor
undertakes no obligation to update forward looking statements to reflect
changed assumptions, the occurrence of unanticipated events, or changes
in future operating results, financial condition or business over time.
Readers are further advised to review the “Risk Factors” set forth in
FleetCor’s Annual Report on Form 10-K, which further details and
supplements the factors described in this paragraph.
Source: FleetCor Technologies, Inc.
FleetCor Technologies, Inc.
Investor Relations, 770-729-2017