Tanknology to Provide Compliance Management Services to Budget
6 October 1998
Tanknology to Provide Compliance Management Services to Budget Rent a Car CorporationAUSTIN, Texas, Oct. 6 -- Tanknology-NDE International, Inc. (OTC Bulletin Board: TNDE) has entered into an agreement with Budget Rent a Car Corporation, a wholly owned subsidiary of Budget Group, Inc. , whereby Tanknology will provide its Compliance Management Services on an outsource basis for all Budget facilities with fueling systems. Under the contract, Tanknology will oversee compliance by Budget with federal, state and local environmental regulations governing underground storage tanks (UST's). In 1988, the United States Environmental Protection Agency issued a number of UST regulations which phase in over a ten-year period, and are fully effective on December 22, 1998. Tanknology will oversee the majority of management and reporting functions required to facilitate and maintain Budget's compliance with those regulations. Tanknology will submit UST environmental filings and permits; coordinate with regulators; schedule and dispatch required on-site testing, certifications and inspections; maintain a 24-hour hotline to respond to any UST-related environmental emergencies; and keep detailed records of UST activities via a sophisticated compliance database. The addition of compliance management services will complement the work Tanknology currently performs for Budget, such as management of fuel system construction and upgrade programs, and on going compliance inspections. "By outsourcing Budget's storage tank compliance activities to Tanknology, we are able to efficiently streamline our compliance program and costs, all under one roof," stated Karl Westermann, Director of Environmental Compliance for Budget. "Tanknology has the staff, processes and information systems in place to handle this vital function." Dan Sharplin, Tanknology President and CEO, said, "We are pleased to add such a valued partner to our growing list of Compliance Management customers. We feel that this contract will provide significant value to Budget, relieve them of the burdens associated with UST's, and allow them to focus on their core business. As a leader in the auto rental market, Budget recognizes the value created through the outsourcing of non-core functions, and the synergies associated with a single point of contact for UST issues." Budget Rent a Car Corporation, a wholly owned subsidiary of Budget Group, Inc., is one of the world's top three car and truck rental systems. The Budget system, which operates under the same name worldwide, has more than 3,200 airport and local market locations in over 120 countries and territories. Budget has nearly 1,000 corporate-owned and franchised locations in the United States. Budget's WorldClass Fleet is comprised of more than 30% specialty vehicles, ranging from sport utility vehicles, convertibles and luxury cars to minivans, pickups and motorcycles. Tanknology provides a full array of outsourced environmental compliance, information services, maintenance dispatch, and construction management to facility owners and operators, with particular emphasis on petroleum fueling systems. Tanknology operates the only nationwide fleet of underground storage tank (UST) service vehicles and deploys integrated information systems to facilitate customer compliance with federal, state and local UST regulations. To the extent this press release contains forward-looking statements, Tanknology and Budget believe the expectations reflected in such statements are reasonable; however, no assurances can be given that such expectations will prove to be correct. Additional information about Tanknology can be found on the Internet at http://www.tanknology.com. Additional information about Budget Rent a Car can be found at http://www.drivebudget.com.