Procurian Announces Contract Renewal With Hertz


PHILADELPHIA, Feb. 27, 2012 (GLOBE NEWSWIRE) -- Leading comprehensive procurement solution provider Procurian, formerly ICG Commerce, today announced that it has renewed its relationship with The Hertz Corporation. Hertz and Procurian began working together in 2005, and under the new five-year agreement, Hertz will continue to leverage Procurian's Specialized Procurement InfrastructureTM to support and enable Hertz's indirect procurement strategy across the company's North American and European business units. The program will continue to support Hertz's cost reduction goals by driving increased savings and efficiencies while allowing the company to focus on core competencies.

"Continuing our relationship with Procurian attests to the strength of our partnership to date," said Todd Poste, vice president, Global Procurement & Administration, The Hertz Corporation. "Over the past five years, our joint team has not only achieved but exceeded our business targets. Through the partnership, we have gained greater visibility and more control over our indirect spend."

"Hertz's dedication to driving performance improvements and efficiencies is impressive," said Carl Guarino, CEO of Procurian. "We are very pleased to be supporting these efforts and look forward to contributing to Hertz's continued success."

About Procurian, Inc.

Procurian is the leading specialist in comprehensive procurement solutions. Transformational business leaders partner with Procurian to drive sustainable changes to their cost structures on an accelerated basis. Our built-out Specialized Procurement Infrastructure™ integrates with your business to optimize spending and deliver real savings that can equal a margin point or more. Procurian is an ICG (Nasdaq:ICGE) company.

The Procurian, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6920

About Hertz

Hertz is the largest worldwide airport general use car rental brand operating from approximately 8,500 locations in approximately 150 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at approximately 94 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. In addition, Hertz operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of rental equipment, including tools and supplies, and new and used equipment for sale from approximately 320 branches in the United States, Canada, France, Spain, Italy, China and Saudi Arabia, as well as through its international licensees. In late 2008, Hertz introduced a global car-sharing service, now referred to as Hertz On Demand, where customers can rent by the hour from various locations in the U.S., Canada and Europe. Hertz also owns Donlen Corporation, based in Northbrook, Illinois, which is a leader in fleet leasing and management services.

To make car rental reservations or for more information, customers can call their travel agent, or call Hertz toll-free at 1-800-654-3131. Information and reservations are also available on the web at www.hertz.com. For information on Hertz Equipment Rental, visit the company on the web at www.hertzequip.com.


            

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