READING, Pa., June 15, 2008 - Today, Penske Logistics announced it earned Eastman Chemical Company's Supplier Excellence Award. The Eastman Supplier Excellence Program was created to introduce a continuous improvement process to ensure that high quality and efficient services are supplied to Eastman.
There are three levels of awards: Excellence, Improvement and Innovation. The Excellence Award process requires that the supplier be a strategic service provider to Eastman; meet or exceed the minimum overall performance expectations and undergo an Eastman management review.
Penske Logistics currently provides Eastman Chemical with supply chain optimization solutions including dedicated contract carriage and inbound freight management.
"We are honored by this recognition from Eastman," said Vince Hartnett, President of Penske Logistics. "Last year, our transportation network linking Kingsport, Tenn., Columbia, S.C. and Savannah, Ga. delivered an on-time drayage move performance of 99.9 percent. We also had zero driver turnover and a solid safety performance record."
"During its first year as a supplier, Penske Logistics has exceeded the demanding expectations Eastman must maintain to remain an industry leader," said Terry Begley, Eastman Chemical Vice President, Global Supply Chain and Quality. "A record of excellent service and quality performance, coupled with a high degree of professionalism prevalent among its employees, led to the recognition of Penske with Eastman's Supplier Excellence Award."
Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing. With operations in North America, South America, Europe and Asia, Penske Logistics provides supply chain management and logistics services to leading companies throughout the world. Penske Logistics delivers value through design, planning and execution in transportation, warehousing, international freight forwarding and carrier management. Visit www.PenskeLogistics.com to learn more.
Eastman Chemical Company (NYSE: EMN) manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is a major supplier of cellulose acetate fibers; and produces PET polymers for packaging. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2007 sales of $6.8 billion and approximately 10,500 employees. For more information about Eastman and its products, visit www.eastman.com.