Media Contacts:
Jeff Seedman / Julia Zamorska
Ruder Finn Public Relations
310-882-4009 / 310-882-4007
seedmanj@ruderfinn.com / zamorskaj@ruderfinn.com

Jeff Samuels
Panasonic
201-392-4571
samuelsj@us.panasonic.com

 

FOR IMMEDIATE RELEASE

 

 

PANASONIC AND NEW AGE ELECTRONICS

BROADEN DISTRIBUTION AGREEMENT

 

Panasonic Expands Proven New Age Channel Management Model

Throughout East Coast Corridor

 

Carson, Calif. – May 14, 2007 – New Age Electronics, Inc. (New Age), a leading solution and logistics provider delivering an unsurpassed supply chain model to consumer technology retailers and vendors, announced today it has extended its existing relationship with Panasonic Consumer Electronics Company to include the Metro New York, Northern New Jersey and Connecticut markets. Panasonic Consumer Electronics Company, the market and technology leader in Plasma televisions, is a Division of Panasonic Corporation of North America, the principal North American subsidiary of Matsushita Electric Industrial Co. Ltd. (NYSE: MC) and the hub of Panasonic's U.S. marketing, sales, service and R&D operations.

 

Under the terms of the agreement, New Age will support Panasonic’s complete line of consumer electronics, which includes Plasma and LCD televisions, Blu-ray disc players, high definition camcorders, digital still cameras and other digital imaging, entertainment and communication products. New Age will enable Panasonic to continue to reduce time-to-market, maximize product shelf life and increase profit margins throughout the tri-state region.

 

“New Age looks forward to working with Panasonic to further optimize its channel management processes to support growth and innovation across the company,” said Adam Carroll, president, New Age Electronics, Inc. “Through years of experience with Panasonic in various capacities, we have developed a deep understanding of its business. We expect to quickly build upon the successful track record that we’ve already established with Panasonic through our efforts in other regions.”

 

New Age maintains a long history with Panasonic and expanded its relationship to become the organization’s exclusive West Coast distributor covering California, Nevada, Washington, Oregon and Idaho in February 2006. New Age also oversees retail training, providing the support and solutions needed to address today’s most pressing technical challenges.

 

“New Age has consistently delivered value to Panasonic while demonstrating they not only understand our business, but also maintain a deep understanding of the consumer electronics marketplace,” said Ed Wolff, vice president, Distributor Sales, Panasonic Consumer Electronics Company. “We look forward to leveraging their strategic approach to vendor managed inventory, forecasting accuracy and account management to optimize our processes and drive growth.”

 

About New Age Electronics, Inc.
New Age Electronics is a sales and supply chain solutions innovator that provides consumer technology (CT) manufacturers with a broad offering of logistics, distribution and remanufacturing services. Extensive experience in the CT industry and a customer-centric approach has made New Age the provider of choice for manufacturers such as HP, Panasonic, Kodak and Sharp, and national and regional retailers such as Big Lots, Aaron’s Rents and Nebraska Furniture Mart. New Age distinguishes itself with extremely efficient operations and relentless focus on customer satisfaction. Founded in 1988, New Age is headquartered in Carson, Calif. For more information on New Age, call (310) 549-0000, toll-free (888) 234-0300 or visit the company’s Web site at www.newageinc.com.