Offers Rebates for High-Efficiency Washing Machines; Environmentally Friendly Washers Also Provide Mac-Gray Customers With Significant Savings on Water and Utility Costs
CAMBRIDGE, Mass., April 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Mac-Gray Corporation
(NYSE: TUC), the nation's premier provider of laundry facilities management
services to multi-unit housing locations including apartment properties,
condominiums, military housing and hotels, and the nation's largest provider
of these services to college and university residence halls, today announced
it has established a corporate goal of saving its customers 300 million
gallons of water each year. To help achieve that goal, the Company has
introduced rebates of up to $350 per unit on select high-efficiency commercial
washers. The program, available only for a limited time, is being offered
through Mac-Gray's partnership with Maytag Corporation (NYSE: MYG).
"The program is extremely beneficial to existing and prospective Mac-Gray
customers who will have state-of-the-art, water and energy-saving commercial
washers installed in their laundry rooms, receive a sizable rebate per machine
and lower their overall operating costs," said Neil MacLellan, chief operating
officer for Mac-Gray. "Based on a conservative estimate of two cycles a day
per washer, our clients can decrease their water and utility costs by more
than $100 annually per high-efficiency machine installed."
"Part of what makes Mac-Gray unique within the commercial laundry industry
is our strong commitment to the environment," MacLellan continued. "In fact,
we are the only laundry facilities contractor that has been designated as an
ENERGY STAR(R) PARTNER by the Department of Energy. We currently operate more
than 35,000 high-efficiency washers across the United States. Through those
machines, we estimate that we are currently saving customers approximately 250
million additional gallons of water annually. Our goal is to increase that
water savings number to more than 300 million gallons."
The rebates are available for qualified units placed in operation in
apartments, condos, co-ops, laundromats or colleges and universities. For
more information about the rebate program, please visit Mac-Gray's website at
http://www.macgray.com or by calling the Company's sales department at
800-298-1022 ext. 374.
On a related front, Mac-Gray aggressively supports the Department of
Energy's recently proposed ENERGY STAR(R) clothes washer criteria which will
lead to highly water-and-energy efficient commercial clothes washers beginning
in 2007. The Company also backs Congress' efforts to advance energy
legislation with a strong emphasis on energy efficiency and conservation,
including tax incentives for the production and sale of high-efficiency
appliances. "Over the next decade, there will be significant changes to the
commercial laundry space due to increased political awareness that the public
can benefit from regulating energy consumption of commercial washing machines,
similar to residential washing machines. At Mac-Gray we support that
legislative agenda and have been preparing to meet those higher standards for
a long time," said MacLellan.
About Mac-Gray Corporation
Founded in 1927, Mac-Gray derives its revenue principally through the
contracting of card- and coin-operated laundry facilities in multiple housing
facilities such as apartment buildings, college and university residence
halls, condominiums and public housing complexes. Mac-Gray contracts its
laundry rooms under long-term leases. These leases typically grant Mac-Gray
exclusive contract rights to laundry rooms on the lessor's premises for a
fixed term, which is generally seven to 10 years, in exchange for a negotiated
portion of the revenue collected. Mac-Gray's laundry facilities business
consists of approximately 45,000 multi-housing laundry rooms located in 40
states and the District of Columbia.
Mac-Gray also sells, services and leases commercial laundry equipment to
commercial laundromats and institutions through its product sales division.
This division also includes the Company's MicroFridge(R) business, where Mac-
Gray sells its proprietary MicroFridge(R) line of products, which are
combination refrigerators/freezers/microwave ovens utilizing patented Safe
Plug(TM) circuitry. The products are marketed throughout the United States to
colleges, the federal government for military housing, hotels and motels, and
assisted living facilities. MicroFridge(R) also has entered into agreements
with Maytag Corporation to market Maytag's Magic Chef(R), Amana(R) and
Maytag(R) lines of home appliances under its MaytagDirect(TM) program
throughout the United States. MicroFridge(R) and Maytag(R) products bear the
ENERGY STAR(R) designation. To learn more about Mac-Gray, visit the Company's
website at http://www.macgray.com.
Chief Operating Officer
Executive Vice President
Sharon Merrill Associates, Inc.
SOURCE Mac-Gray Corporation
Neil MacLellan, Chief Operating Officer of Mac-Gray Corporation, +1-617-492-4040,
firstname.lastname@example.org; or Jim Buckley, Executive Vice President of Sharon Merrill
Associates, Inc., +1-617-542-5300, email@example.com