10.) University of South Australia

Located in the City of Adelaide, the University of South Australia’s supply chain management program’s course structure organization is matched only by the City’s rigid design. Opened relatively recently in 1991, you could do worse than studying in Adelaide, affectionately known by locals as the “City of Parks and Churches.”

9.) University of Pennsylvania

As the world’s first collegiate business school, the University of Pennsylvania’s Wharton School has a long history of success. Established in 1881, the Wharton school focuses primarily on accounting and business, making it a prime location to learn the procurement industry. The world-renowned staff doesn’t hurt, either, as the school’s faculty is the world’s most published.

8.) Arizona State University

Supply chain enthusiasts who hate the rain flock to Arizona State University’s W.P. Carey School of Business. Located in Tempe, Ariz., the Carey School of Business is one of the largest in the United States with close to 10,000 graduate and undergraduate students, and offers Masters degrees in specialty fields like supply chain financial management.

7.) Carnegie Mellon University

Another Pennsylvania school makes it on the list, as Carnegie Mellon University’s Tepper School of Business is widely recognized as a top supply chain management school. The private institution offers a wide variety of supply chain-related courses, and teaches its courses based primarily on the management science theories, which are in contrast to the more widely used case method approach.

6.) International Institute for Management Development

Located in the French-speaking City of Lausanne on Lake Geneva, the International Institute for Management Development (IMD) offers more than just pleasing views of the Swiss Alps. Formed from the merger of two highly regarded business centers, IMD’s supply chain management aptitude draws several upper-level executives each year, and is one of the more exclusive supply chain events in the world.

5.) Michigan State University

Perennially ranked near the top when it comes to business schools within the United States, Michigan State’s Eli Broad College of Business houses some of the brightest minds when it comes to the world of logistics. The school’s supply chain management undergraduate degree was ranked No. 2 in 2011 by the U.S. News & World Report.

4.) HEC Paris

This French school’s supply chain management department is small, but don’t be fooled by the numbers. HEC Paris’ Operations Management & Information Technology program is diverse, as seen by the seven nationalities represented on staff. That diversity has paid dividends when it comes to higher education, as the team has written seven books and close to 40 journal essays.

3.) London Business School

The world has historically been connected through the British Empire, so it makes sense that one of the world’s top supply chain management schools resides in London. The City’s Management Science and Operations school offers students the chance to learn logistics based on decision modeling and analysis and optimization.

2.) Rotterdam School of Management

This one may surprise some people, but the Rotterdam School of Management’s Erasmus University is arguably the top supply chain management institution in all of Europe. It’s hard to argue with facts, however, and the port at Rotterdam is the largest commercial port in Europe and home to many of the world’s brightest supply chain minds.

1.) Massachusetts Institute of Technology

Arguably the world’s most prestigious university, the Massachusetts Institute of Technology leaves no stone unturned when it comes to education. With an endowment that touched $10 billion last year alone, funding is not exactly at a premium for MIT, which houses perhaps the best staff and best facilities in the world. Supply chain management may not be the main focus of the academic institution, but that’s like saying Michelangelo’s David was not his best work. It’s still somewhere between ‘spectacular’ and ‘breathtaking,’ just like MIT’s supply chain management program. The MIT Forum for Supply Chain Innovation is one of the best forward-thinking groups in the business, and holds seminars around the world (and even on Videocast), educating supply chain managers on the latest logistics trends. 

Steve Gold, the Managing Director with Alvarez & Marshal and former Chief Supply Chain Officer of PepsiCo, graciously took the time to speak exclusively with Supply Chain Digital on his thoughts on the logistics world as we move deeper into 2012.

Q: Talk to me and my readers about what you specifically did with Pepsi’s supply chain

A: “I was responsible for transforming the entire supply chain at PepsiCo, which included brands like Frito-Lay, Quaker Oats, Gatorade and others. Most of what I did was based around leveraging our scale to take out cost while enhancing our go-to-market strategy with major customers.”

Q: What’s your argument for why supply chain is a top issue for corporate management in 2012?

A: “I’m not an economist, but everyone is predicting flat GDP this year, so the question is really on growth. If GDP is flat and we have a high unemployment rate, the consumer doesn’t have any more money to spend on goods and services. That gives everybody top-line pressure, because they have to grow sales and grow revenue.

“On the flip side of that, you’re going to see a lot of input inflation. Chinese workers’ pay raises are coming through now, and China is seeing major inflation. Those kinds of issues have economists predicting our financial situation to be pretty inflationary. The consumer may not have any room to raise prices, so everyone is going to get squeezed in the middle. At the end of the day, supply chain is going to be looked upon by large companies to reduce those costs and to find new ways to accomplish that.”

Q: What are some of the ways you’re advising customers on cutting supply chain expenses?

A: “There was a time where you could beat up your supplier and get lower rates for transportation or services or whatever just by negotiating better. A lot of companies have picked that fruit, so you’re going to see much more creative supply chain solutions that a lot of our clients weren’t prepared for.

“At PepsiCo, we made plastic bottles. If you go and buy bottled water today, you’ll see the bottle is extremely thin, and the reason for that is the only way left to take cost out was to make the bottle lighter. You’re going to see other corollary business and supply chain strategies that take cost out of the equation more. Whether it’s in heavy manufacturing, sweaters or goods and services, there’s going to have to be a totally different mindset on the logistics process.”

Q: Does a renewed sense of supply chain innovation have to be a focus moving forward?

“Totally. This function has rested on its laurels for a long time, and unfortunately, many supply chain leaders don’t think they have the permission to be creative in their role. They could have a huge input on the model, but right now they’re lacking the ability to really try and be creative.

No one has forced supply chain leaders on how to make this happen. When we did this at PepsiCo, I thought we were pretty sophisticated. A lot of companies don’t behave like that in a supply chain function. There are a lot of leaders that haven’t forced the supply chain to think differently and be creative, and that must change (this year).”

Click here to read this article in the magazine edition!

In today’s convenience based marketplace, where conserving energy, time and resources is vital in building the most efficient supply chain, logistics specialists everywhere must carefully weigh out their delivery method options. Which leads to a simple question, but one rarely discussed in length: what mode is truly the superior system in transporting freight, trains or trucks?

Structurally, a number of elementary design factors contribute to the superior energy efficiency of the train over the truck. For one, a train’s steel wheels smoothly join with the steel of the railway, and thus omit very little kinetic friction. In opposition, a truck’s thick rubber tires emit heavy static friction when interfacing with asphalt, forcing the engine to consume more fuel to maintain momentum. Also, the slower speed of trains, while ultimately extending the overall delivery time of freight, actually greatly improves fuel consumption, as it cuts down on the aerodynamic drag caused by moving heavy masses at fast speeds. 

So ultimately, a train has less aerodynamic drag than a truck, making it more fuel efficient, as the engine does not strain to overcompensate for its loss of energy to inertia. While the difference between fuel costs does not differ wildly in short distance trips between the train and the truck, the energy efficient train does pay off in medium to long distant routes.

However, in today’s fast- paced marketplace, where time is money, companies may find a train’s lag in delivery time burdensome. And it isn’t just the train’s slower speed that delays the chain of supply, but also the logistics of loading and unloading freight onto the train. Ultimately, a truck’s effortless accessibility is less of a hassle to load and unload. And with cargo requiring a quick turnaround like fresh produce, time delays can significantly cut profit margins. Also, obviously, trucks are not restricted to the infrastructure of a railway, which makes them the optimally flexible option when it comes to comprehensive delivery.

Perhaps the truth lies not in Trucks vs. Train, but rather, how we can bridge these two sectors together into one powerhouse network. If the future of industry is one of customizable options, then the key to the most efficient delivery method comes in synchronizing the benefits of the two, focusing on how these two equally valuable, but ultimately unique systems of delivery can be interfaced in the most efficient way.

Integrity Sales & Services, Inc. is a commercial market dealer of used trucks and trailer sales, service, and parts from makers like Ford, International, Freightliner, Volvo and others. The Company carries heavy duty inventory including used expedite, box, dump, grain and flatbed trucks, semi tractors, trailers, hot shots, light duty automobiles, and bucket trucks, with a large focus on the agriculture service market in the region. www.99trucks.com, www.99trailers.com

To request an investor packet on Integrity Sales & Services register online at www.wallstreetnewscast.com/request/prmk.html

Safe Harbor Notice

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Contact:

Tom Bustamante,
Investor Relations Counsel
Ludlow Capital, Inc
Phone: (347) 483-0121
Email: ludlowcapital@aol.com

SOURCE ProConcept Marketing Group, Inc.

VALLEY FORGE, Pa., Feb. 16, 2012 /PRNewswire/ -- Saint-Gobain, the world's largest building materials company, announces today its continued financial support of the Energy Coordinating Agency (ECA), Philadelphia's largest provider of key energy conservation services including weatherization, energy workshops, heater repair and replacement for low income residents, and green jobs training. At 10 a.m. this morning, company representatives will present a $10,000 grant on behalf of the Saint-Gobain Corporation Foundation at a Philadelphia City Council meeting recognizing ECA's Knight Green Jobs Training Center as a Center of Excellence. 

The grant will be used towards the continuing education and professional development of ECA staff members, as well towards the development of a "scholarship fund" to foster a partnership with youth enrolled in YouthBuild, a green building education and job-training program which Saint-Gobain currently supports through a national partnership. 

"Saint-Gobain congratulates the Energy Coordinating Agency's Knight Green Jobs Training Center on being recognized as a Center of Excellence and is pleased to reaffirm our support of the organization's mission of providing green education and job-training to promote sustainability with the future workforce," said John Crowe, President and CEO of both Saint-Gobain and CertainTeed Corporations. "Philadelphia is on its way to becoming one of the greenest cities in America because of ECA's commitment to creating solutions to the energy problems faced by low-income families, and as citizens of this community, we're committed to helping achieve that goal."

Since its opening in 2010, ECA's Knight Green Jobs Training Center has trained over 2,000 men and women, including over 350 individuals trained to the national Building Performance Institute (BPI) standards and partnered with the Community College of Philadelphia to develop an Associate's Degree in Building Science. In addition to its training accomplishments and partnerships, ECA has also developed the nation's first Apprenticeship Program for Weatherization Installer and Building Energy Auditor to be approved by the U.S. Department of Labor.  

Through the Saint-Gobain Corporation Foundation, the company aims to put the power of its people and products to work to help improve the quality of life in the communities in which Saint-Gobain operates. Saint-Gobain has supported the ECA since 2000 with grants totaling $26,000. "The ECA's commitment to community development, energy conservation and environmental stewardship aligns closely with Saint-Gobain's mission to foster a sustainable future, making this a relationship that we look forward to strengthening for years to come," added Crowe.

About Saint-Gobain in North America 
Saint-Gobain, the world's largest building materials company, has its North American headquarters in Valley Forge, Pennsylvania.  As the world leader in sustainable habitat, Saint-Gobain is committed to inventing solutions to help professionals and communities around the world build and renovate comfortable, healthy, economical and energy-efficient buildings. The company has more than 265 locations in North America and approximately 19,000 employees. In the United States and Canada, Saint-Gobain reported sales of approximately $7.7 billion in 2011.

Saint-Gobain's family of companies in North America includes CertainTeed Corporation, which offers the most comprehensive portfolio of interior and exterior building products in North America, as well as Saint-Gobain Abrasives, Saint-Gobain ADFORS, Vetrotech Saint-Gobain North America, Saint-Gobain Glass, Saint-Gobain Solar, Saint-Gobain Performance Plastics and more.

Recognized as a 2009 and 2010 ENERGY STAR Partner of the Year by the U.S. Environmental Protection Agency, Saint-Gobain earned the 2011 ENERGY STAR Sustained Excellence Award, the highest level of recognition for outstanding contributions to protecting the environment through energy efficiency. For information about Saint-Gobain in North America, visit www.saint-gobain-northamerica.com 

SOURCE Saint-Gobain

• Brings to life in-depth engineering and product design stories on the SRT vehicle lineup
• Provides an online magazine about all things SRT and motorsports
• Offers a new social hub for the SRT community  

The Chrysler Group's Street and Racing Technology (SRT®) brand has launched a thoroughly revamped driveSRT.com website.

SRT vehicles are not simple machines. They are designed and built by the Chrysler Group's in-house performance division, so each SRT vehicle adheres to five proven hallmarks that include awe-inspiring powertrains; outstanding ride, handling and capability; benchmark braking; aggressive and functional exteriors; and race-inspired and high-performance interiors to set themselves apart.

For this reason, driveSRT.com takes inquisitive visitors on an exclusive journey into the engineering labs, design studios and the factory floors for a closer look at the meticulous processes that occur throughout the vehicle development process. The five requisite SRT hallmarks ensure each new vehicle is delivered with world-class performance and stunning curb appeal. These hallmarks are explored in great detail on driveSRT.com.

Beyond the vast amount of SRT vehicle information, driveSRT.com enables visitors to connect with owners and fans in real time through direct feeds to SRT on:

• Facebook: facebook.com/driveSRT
• Twitter: @driveSRT
• YouTube: youtube.com/driveSRT
• Flickr: flickr.com/driveSRT

Brand news as well as motorsports and consumer events, and community stories are frequently updated to give visitors regular doses of fresh content. Site visitors also can expect owner profiles and information on SRT clubs nationwide.

"We're excited to bring the newly redesigned driveSRT.com to life," said Ralph Gilles, President and CEO – SRT Brand and Motorsports. "The new site not only offers more exclusive content but it also provides unique ways to connect and stay connected with many enthusiasts groups that we're building the new SRT brand around."

SRT's flagship performance machine

The Viper has always been a pinnacle of performance engineering for SRT and the Chrysler Group. In celebration, a full section on driveSRT.com is dedicated to the Viper, including historical information and racing news. Fans from the world over also are invited to a webcast of the live reveal of the 2013 SRT Viper at the New York Auto Show on April 4 on driveSRT.com.

About SRT

The Chrysler Group's Street and Racing Technology (SRT) brand uses a successful product development formula featuring five proven hallmarks: awe-inspiring powertrains; outstanding ride, handling and capability; benchmark braking; aggressive and functional exteriors and race-inspired and high-performance interiors to remain true to its performance roots. The expansion of the SRT vehicle lineup in 2012 features four new products that are world-class performance contenders and bring the latest in safety technologies and creature comforts. These products include the Chrysler 300 SRT8®, Dodge Challenger SRT8 392, Dodge Charger SRT8 and Jeep® Grand Cherokee SRT8.

SOURCE Chrysler Group LLC

"Megabus.com is always looking for ways to better serve our customers, and this mobile app is a great tool for our passengers and our company," said Dale Moser, president and COO of megabus.com. "Megabus.com has become the travel option of choice and this is just one more way we're striving to provide the best customer service possible."

The app – the only official megabus.com application - is available for iOS and Android platforms. Once downloaded, users can input their origin and destination cities and the times they are traveling to confirm what time their bus will arrive.

Megabus USA is available at this time to passengers traveling on megabus.com's Midwest and Southeast routes.  Northeast routes will be added soon.  Current cities available for tracking include: Ann Arbor, Atlanta, Birmingham, Champaign, Charlotte, Chattanooga, Chicago, Cincinnati, Cleveland, Columbia, Columbus, Des Moines, Detroit, Gainesville, Indianapolis, Iowa City, Jacksonville, Kansas City, Knoxville, Madison, Memphis, Milwaukee, Minneapolis, Mobile, Montgomery, Nashville, Omaha, Orlando, St. Louis and Toledo.

Megabus.com, a subsidiary of Coach USA, launched in April 2006 and is the largest intercity express bus service provider in North America, transporting more than 15 million travelers.  In addition to low fares, megabus.com offers customers environmentally-friendly buses, free Wi-Fi, power outlets and restrooms.

Visit http://bit.ly/ym5NRf to view the app and visit www.megabus.com for additional information about the service, schedules, arrival and departure times and fares.

SOURCE megabus.com

NEW YORK, Feb. 16, 2012 /PRNewswire/ -- On February 15, 2012, Sumitomo Corporation of America in conjunction with its car builder partner Nippon Sharyo, received a contract award from Virginia Railway Express (VRE) for 50 Gallery-type Bi-level Passenger Cars.  The base order is to supply 8 cars at a contract price of $21 million and is scheduled to be delivered in 2014.  This contract includes an option for VRE to purchase up to an additional 42 cars.  If the option is exercised, the total contract would amount to $119 million.  VRE will use the cars procured through this contract to update its fleet by replacing some of their older cars and adding more cars to handle their increase in ridership.

(Photo:  http://photos.prnewswire.com/prnh/20120216/NY54836-a )

(Photo: http://photos.prnewswire.com/prnh/20120216/NY54836-b )

The gallery-type bi-level passenger car is a unique type of bi-level car which has open space between the two sides of the upper deck and allows ticket collectors to check tickets on both levels from the bottom level.  Sumitomo Corporation of America with Nippon Sharyo has already delivered a total of 71 passenger cars to VRE.  Moreover, a total of 643 gallery-type bi-level passenger cars has already been supplied by Sumitomo Corporation of America and Nippon Sharyo in the U.S.

Sumitomo Corporation of America and Nippon Sharyo have been supplying commuter rail cars, including Electric Multiple Units (EMUs) in the North American market since the 1980s.  In the 30 year period, they have delivered approximately 900 cars. 

In October 2010, Nippon Sharyo strengthened its long commitment to the North American marketplace and announced the establishment of their own passenger railcar production facility in Rochelle, Illinois.  With an investment that will increase its competitiveness in the North American market, the new VRE cars will be manufactured at this U.S. production facility.  This order is in addition to the 160 gallery-type EMUs for Metra in Illinois, 12 single-level Diesel Multiple Units (DMUs) for Sonoma Marin Area Rail Transit (SMART) in California and 18 single-level DMUs for Metrolinx in Toronto, Canada, already scheduled for production when the facility opens.

Sumitomo has 50 years of contract management experience in bringing transportation systems to life.  As a prime contractor, the company has developed, managed and delivered transit systems for Chicago's Metra, the Northern Indiana Commuter Transportation District, the Maryland Mass Transit Administration, California's CALTRANS Peninsula Corridor Joint Powers Board, the Los Angeles County MTA, the Virginia Railway Express, and will begin the delivery of DMUs to SMART and Metrolinx at the end of 2013.  Sumitomo has supplied Automated People Mover (APM) systems for the Washington Dulles International Airport, Hartsfield-Jackson Atlanta International Airport and Miami International Airport. 

Sumitomo globally has been involved in building various types of transit systems around the world, including light rail systems in Manila, Philippines, people mover systems at Hong Kong's new airport at Chek Lap Kok, and other systems in Japan.

About Nippon Sharyo

Nippon Sharyo, founded in 1896, has manufactured railroad vehicles for more than 100 years and has annual sales of over $1,200 million. A world leader in the manufacturing of the Gallery-type car, the company also owns the largest market share of Japanese "Shinkansen" bullet train sets.

About Sumitomo Corporation of America

Established in 1952, and headquartered in New York City, Sumitomo Corporation of America (SCOA) has 10 offices in major U.S. cities.  SCOA is the largest wholly-owned subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services.  As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.  For more information visit www.sumitomocorp.com.

SOURCE Sumitomo Corporation of America

Participants may listen to the audio portion of the conference call either through audio streaming online or by telephone. Slide viewing is available online via a link provided on the Dana investor website: www.dana.com/investors.

To dial into the conference call, domestic locations should call 888-311-4590 (conference I.D. number 46201111). International locations should call 706-758-0054 (conference I.D. number 46201111). Please ask for the "Dana Holding Corporation Financial Webcast and Conference Call." Phone registration will be available beginning at 10 a.m. EST.

An audio recording of this conference call will be available after 5 p.m. EST on Feb. 21.  To access this recording, please dial 855-859-2056 (U.S. or Canada) or 404-537-3406 (international) and enter the conference I.D. number 46201111.

A webcast replay will also be available after 5 p.m. EST on Feb. 21. This replay may be accessed via the Dana Investor website.

About Dana Holding Corporation

Dana is a world leader in the supply of driveline products (axles, driveshafts, and transmissions), power technologies (sealing and thermal-management products), and genuine service parts for light- and heavy-duty vehicle manufacturers.  The company's customer base includes nearly every major vehicle manufacturer in the global automotive, commercial vehicle, and off-highway markets.  Based in Maumee, Ohio, the company employs approximately 24,000 people in 26 countries and reported estimated 2011 sales of $7.6 billion.  For more information, please visit: www.dana.com.

SOURCE Dana Holding Corporation

DEARBORN, Mich., Feb. 16, 2012 /PRNewswire/ -- Ford Motor Company (NYSE: F) was named as one of America's top corporations for its support of women-owned suppliers, the first time an automaker has earned the award.

The Women's Business Enterprise Council (WBENC) selected Ford for its 13th annual listing of America's Top Corporations for Women's Business Enterprises. It is the only national award honoring corporations for world-class programs that level the playing field for women's business enterprises (WBEs) to compete for corporate business.

Ford earned the award for developing and driving innovative best practices across its organization that result in productive business partnerships with women entrepreneurs and valuable products and services for their customers.

In 2011, Ford spent $1.06 billion with women-owned suppliers in the U.S., a 22 percent increase from $866 million in 2010. Since 2009, Ford has more than doubled its sourcing with women-owned businesses.

The increase in 2011 includes higher spending with suppliers that are playing a key role in Ford's expanding portfolio of high-quality, safe, fuel-efficient products equipped with smart technologies. Examples include:

• Dura Automotive Systems, an Auburn Hills, Mich.-based company that is owned by Lynn Tilton's Patriarch Partners investment company. Dura, which makes a variety of control systems, engineered assemblies and other products, supplies the award-winning heated power rear sliding window for the F-150 pickup
• Systrand Manufacturing, a Brownstown, Mich.- based company owned by Sharon Cannarsa. Systrand is producing machined parts for the next generation of Ford's hybrid transmission that will be used in the new Ford Fusion Hybrid and C-MAX Energi plug-in hybrid
• Dakkota Integrated Systems, owned by Andra Rush and based in Holt, Mich. Dakkota won a contract to produce fascias and headliners for the redesigned Ford Explorer, which more than doubled sales in 2011 from 2010, finishing the year with 135,704 units sold in the U.S.

"Building a financially healthy, diverse supply base is a central part of the Ford purchasing strategy," said Tony Brown, group vice president, Ford Global Purchasing. "We are proud to receive this recognition, and we hope it brings renewed attention to this important segment of our supply base."

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 164,000 employees and about 70 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit www.ford.com.

SOURCE Ford Motor Company

WASHINGTON, Feb. 16, 2012 /PRNewswire-USNewswire/ -- A report released today by the Governors Highway Safety Association (GHSA) reveals that the number of 16- and 17-year-old driver deaths in passenger vehicles increased slightly for the first six months of 2011, based on preliminary data supplied by all 50 states and the District of Columbia. Overall, 16- and 17-year-old driver deaths increased from 190 to 211 – an 11 percent increase. If the trend continued for the second half of 2011, it will mark the end of eight straight years of cumulative declines in deaths for this age group.

(Logo: http://photos.prnewswire.com/prnh/20090827/GHSALOGO)

The new report – the first state-by-state look at teen fatalities in 2011 – was completed by Dr. Allan Williams, a researcher who formerly served as chief scientist at the Insurance Institute for Highway Safety. Dr. Williams surveyed GHSA members, who reported fatality numbers for every state and D.C. The report comes as the National Highway Traffic Safety Administration (NHTSA) has released a statistical projection suggesting that total motor vehicle deaths for the first six months of 2011 declined 0.9 percent.

Deaths of 16-year-old drivers increased from 80 to 93 (16 percent) while the number for 17-year-olds went from 110 to 118 (7 percent), a cumulative increase of 11 percent. Twenty-three states reported increases, 19 had decreases, and eight states and the District of Columbia reported no change. While the changes in state-by-state fatality numbers generally are small, states such as Florida, Texas and North Carolina reported significant increases.

Dr. Williams attributes much of the increase to the fact that the benefit of state Graduated Driver Licensing (GDL) laws may be leveling off, as most of these laws have been in place for some time. Additionally, Dr. Williams speculates that improving economic conditions are contributing to an increase in teen driving, thus increasing their exposure to risk. Dr. Williams notes, "While it is not a surprise that these numbers are stabilizing or slightly increasing, states should not accept these deaths as something that cannot be prevented. More work can and should be done to save teen lives."

Troy E. Costales, Chairman of GHSA, said, "While it is good news that overall deaths appear to have declined during the first six months of 2011, we are concerned that the trend with teens is going in the opposite direction," He continued, "As the report notes, a widespread strengthening of laws is still possible and finding effective tools outside of GDL is an important goal. These include improving driver education and involving parents in proactively establishing safe driving habits for their teens."

Chairman Costales added, "As the parent of a young driver and a soon-to-be-driver, I know firsthand the pressures parents face in allowing their teens behind the wheel. As parents, we must set and enforce strict rules for our new drivers, making sure risks are minimized. This includes limiting other teens in the car, limiting nighttime driving and absolutely prohibiting any type of cell phone or electronic device use while driving."

Barbara Harsha, Executive Director of GHSA, said states could use federal support to save more teen lives. "As part of the upcoming highway reauthorization bill, Congress should provide financial incentives to states that have strengthened or will strengthen teen driving laws. Additionally, Congress should provide adequate funding so that NHTSA can research and support demonstration projects to determine the most effective ways to increase teen seat belt use and compliance with GDL laws. Congress also should fund NHTSA and the states to carry out distracted driving campaigns aimed at teen drivers," Harsha added, "Research also needs to be done to determine the impact of changing school start times so that teens are less likely to be driving fatigued."

The full report, including state-by-state data, is available online at www.ghsa.org.

The Governors Highway Safety Association (GHSA) is a nonprofit association representing the highway safety offices of states, territories, the District of Columbia and Puerto Rico. GHSA provides leadership and representation for the states and territories to improve traffic safety, influence national policy, enhance program management and promote best practices. Its members are appointed by their Governors to administer federal and state highway safety funds and implement state highway safety plans. Contact GHSA at 202-789-0942 or visit www.ghsa.org. Find us on Facebook at www.facebook.com/GHSAhq or follow us on Twitter @GHSAHQ.

SOURCE Governors Highway Safety Association

SAN FRANCISCO and DETROIT, Feb. 16, 2012 /PRNewswire/ -- Fontinalis Partners, LLC, a Michigan-based strategic investment firm, today announced that it has invested in QuickPay Corp., a leading provider of integrated mobile parking technology and services.  The financial terms of the transaction were not disclosed.

QuickPay was founded in 2010 with a vision to leverage technology trends in mobile technology to remove the pain and hassle people experience to find, access, and pay for any form of parking or transportation.  QuickPay's development of a revolutionary technology enables parkers to raise any legacy parking gate using their mobile phone, and offers users one mobile parking application that works across all scenarios, giving parking owners and operators the opportunity to enable mobile parking across all their assets with a single integrated solution. The company today enables consumers to find, access and pay for parking in over 80 off-street parking lots and garages in the San Francisco Bay Area and is expanding rapidly across North America.

Dr. Barney Pell, QuickPay's Executive Chairman, said, "We sought out Fontinalis Partners to be QuickPay's first institutional investors. Like Fontinalis, we believe the entire parking experience is being transformed by new technology. Through their existing network of investments and partners they are well positioned to help us execute on this massive opportunity."

William Clay Ford, Jr. ("Bill Ford"), a Founding Partner of Fontinalis Partners, added: "Given our focus on innovation and mobility, Fontinalis is excited by the opportunity our investment in QuickPay presents to build value and create social good.  With their integrated mobile parking platform, QuickPay brings a powerful capability to the industry and complements our existing portfolio. We are excited to engage our partnership and network to help support QuickPay's next stage of growth."

Chris Thomas, another Co-Founder at Fontinalis Partners, will serve on QuickPay's Board of Directors.

Carl Muirbrok, QuickPay's Founder and CEO, added: "This investment by Fontinalis Partners provides validation of QuickPay's market uniqueness and the opportunity ahead of us. The entire Fontinalis Partners team is highly respected in the parking and transportation industry. We have seen how hard they work for their portfolio companies and the value they add in terms of large-scale partnerships, market vision, and execution.  We are delighted to have them on our team as we take the company to the next level."

About QuickPay Corp.
Founded in 2010 and headquartered in San Francisco, privately held QuickPay Corp. is a leading provider of unified mobile parking technology. QuickPay provides a cloud-based mobile parking access and revenue control system that integrates with any legacy parking infrastructure. This enables parking and transit owners and operators to unify their assets under a single low-cost and fast-deploy mobile payment platform. For more information about QuickPay, please visit: www.qpme.com or call 650.394.7763.

About Fontinalis Partners
Fontinalis Partners, with offices in Detroit and Boston, is a leading transportation technology strategic investment firm founded by Bill Ford, Ralph Booth, Mark Schulz, Chris Cheever and Chris Thomas.  Fontinalis' mission is to leverage the firm's considerable management experience, market access, strategic relationships, international expertise, and background in transportation innovation to scale companies providing the transportation technology solutions of tomorrow.  Fontinalis Partners, LLC, invests as a strategic partner across all facets of the world's transportation infrastructure on a stage, structure and size agnostic basis.  Fontinalis Partners is not affiliated with Ford Motor Company. For further information about Fontinalis Partners, please visit www.fontinalispartners.com or call (313) 432-0321.

SOURCE QuickPay Corp.

HOUSTON, Feb. 16, 2012 /PRNewswire/ -- Planning Design Research (PDR), which creates high-performance work environments for companies around the globe, has become the first Houston workplace to earn the prestigious LEED CI (Commercial Interior Design and Construction) Platinum certification, the U.S. Green Building Council program's highest classification.

Located in Two Houston Center, PDR is the tower's first tenant to earn LEED certification. The 40-story building is certified LEED EBOM (Existing Buildings: Operations and Maintenance) Gold.

Occupying the entire 39th floor, the office design demonstrates PDR's deep understanding of workplace and sustainability to create a balanced, healthy environment.  

"A healthy workplace is a competitive workplace – one that attracts the kinds of people you need to build a competitive advantage," notes PDR Principal Joanne Taylor.  "Our office mirrors the workplace we design for our clients."

LEED CI is the U.S. Green Building Council's green benchmark for the tenant improvement market.  According to the USGBC, LEED CI stands as the recognized system for certifying high-performance green interiors that are healthy, productive places to work, are less costly to operate and maintain, and have a reduced environmental footprint.

Highlights of the achievement include:

• 94% of PDR's regularly occupied spaces are day lit;
• 92% of its regularly occupied seats have a direct view to the outside;
• 78% of construction waste from its build out was diverted from the landfill; and
• 56% of materials used in the PDR workplace were manufactured regionally.

Other factors contributing to PDR's LEED CI Platinum certification are its selection of a site in a diverse and densely developed location within a sustainable office building; its efforts to reduce the lighting power density (0.74 watts per square foot, or 26% below the allowable by code); its use of low-emitting materials including paints, adhesives, flooring and furniture systems; greater than 35% water-use reduction, its superior indoor environmental quality; and the implementation of an ergonomic strategy throughout the workplace. 

PDR moved to its workplace in Two Houston Center in February 2011. 

Founded in 1977, PDR focuses on corporate architecture, working with Fortune 100 companies around the globe to create high-performance work environments for organizations which recognize the workplace as a key, strategic asset in promoting the effective integration of talent, process and technology.

SOURCE Planning Design Research

BRIDGEVIEW, Ill., Feb. 16, 2012 /PRNewswire/ -- Manitex International, Inc. (Nasdaq: MNTX), a leading provider of engineered lifting solutions including boom truck cranes, rough terrain forklifts, container handling equipment and special mission oriented vehicles, announced today that it was notified by Comerica Bank, that it has been approved for an extension of its credit facility from $22.5 million to $27.5 million, effective February 16, 2012. Substantially all other terms of the agreement remain the same, including the expiration date of April 1, 2015.

Andrew Rooke, Chief Operating Officer, commented, "As we previously reported, the strong demand underlying the rise in our backlog has resulted in increasing production at several facilities within our North American operations. This newly increased credit availability will ensure that we have sufficient working capital to sustain these production increases and continue to meet customer demand for our products. Comerica has maintained a clear understanding of our business needs and we appreciate their continued support, as we continue to execute our growth strategy for Manitex International."

Additional information pertaining to the amendment to the credit facility will be provided on Form 8K, which will be filed shortly and available at www.sec.gov.

About Manitex International, Inc. 

Manitex International, Inc. is a leading provider of engineered lifting solutions including cranes, reach stackers and associated container handling equipment, rough terrain forklifts, indoor electric forklifts and special mission oriented vehicles, including parts support. Our Manitex subsidiary manufactures and markets a comprehensive line of boom trucks and sign cranes through a national and international dealership network. Our boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction.   Additionally, Badger Equipment Company, a subsidiary located in Winona, Minnesota, manufactures specialized rough terrain cranes and material handling products.  Badger primarily serves the needs of the construction, municipality, and railroad industries. Our Italian subsidiary, CVS Ferrari, srl, designs and manufactures a range of reach stackers and associated lifting equipment for the global container handling market, which is sold through a broad dealer network.  Our Manitex Liftking subsidiary is a provider of material handling equipment including the Noble straight-mast rough terrain forklift product line, Lowry high capacity cushion tired forklift and Schaeff electric indoor forklifts as well as specialized carriers, heavy material handling transporters and steel mill equipment. Manitex Liftking's rough terrain forklifts are used in both commercial and military applications. Our subsidiary, Manitex Load King located in Elk Point, South Dakota is a manufacturer of specialized engineered trailers and hauling systems, typically used for transporting heavy equipment.   

Our Crane and Machinery division is a Chicago based distributor of cranes including Terex truck and rough terrain cranes, Fuchs material handlers and our own Manitex product line. Crane and Machinery provides after market service in its local market as well as being a leading distributor of OEM crane parts, supplying parts to customers throughout the United States and internationally.  The division also provides a wide range of used lifting and construction equipment of various ages and conditions, and has the capability to refurbish the equipment to the customer's specifications.

Forward-Looking Statement

Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "will," "should," "could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE Manitex International, Inc.

THE WOODLANDS, Texas, Jan. 9, 2012 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) announced today that it will release its fourth quarter and year-end 2011 results on Thursday, February 16, 2012 after the market closes.  In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Friday, February 17, 2012 at 10:00 a.m. Eastern / 9:00 a.m. Central.

For those who cannot listen to the live call, a replay will be available through February 24, 2012 and may be accessed by dialing (303) 590-3030 and using pass code 4503222#.  Also, an archive of the webcast will be available shortly after the call at www.newpark.com for 90 days.

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions.  For more information, visit our website at www.newpark.com.

SOURCE Newpark Resources, Inc.

• Fourth Quarter Net Sales of $214.8 Million, a Decrease of 3.6 Percent, Compared to $222.8 Million in the Prior-Year Quarter
• Sales to U.S. and Canadian Foodservice Glassware Customers Increase 1.3 Percent, Compared to the Prior-Year Quarter
• Full-Year 2011 Sales of $817.1 Million, an Increase of 2.2 Percent Compared to the Prior Year
• Free Cash Flow Generation of $37.7 Million in the Fourth Quarter of 2011
• Working Capital as a Percentage of Last Twelve Months' Sales was an All-Time Record Low 21.4 Percent
• Debt Net of Cash Reduced to $339.1 Million, Resulting in Net Debt to Adjusted EBITDA of 3.0 Times

Libbey Inc. (NYSE Amex: LBY) announced results today for the fourth quarter and full year of 2011.

Fourth Quarter Results

For the quarter-ended December 31, 2011, sales were $214.8 million, compared to $222.8 million in the year-ago quarter.  Sales in the Glass Operations segment were $199.2 million, a decrease of 1.1 percent, compared to $201.4 million in the fourth quarter of 2010 (see Table 5).  While sales within our China sales region increased 47.9 percent (41.5 percent excluding currency impact), sales within our U.S. and Canadian sales region were 4.1 percent lower than the prior-year quarter.  We saw growth of 0.9 percent in sales within our European sales region (a 1.6 percent increase excluding the impact of currency).  Sales within our Mexico sales region were flat; however, excluding the currency impact, net sales were 8.0 percent higher than the prior year quarter.  Sales to U.S. and Canadian foodservice glassware customers increased 1.3 percent.  Glassware sales to U.S. and Canadian retail customers were flat during the fourth quarter of 2011, while glassware sales to U.S. and Canadian business-to-business customers were down 21.0 percent during the quarter.  A large premium program to one customer that did not repeat in 2011 accounted for more than the total decline in business-to-business sales.  Sales in the Other Operations segment were $15.7 million, compared to $21.6 million in the prior-year quarter.  As a result of the sale of substantially all of the assets of our Traex subsidiary in late April 2011, sales of Traex products were lower by $3.8 million versus the prior year, accounting for a substantial portion of the $5.9 million decrease in sales for Other Operations.  In addition to the lack of sales of Traex products, sales to World Tableware customers and Syracuse China customers were both lower than the prior-year quarter.  

The Company reported income from operations of $9.7 million during the quarter, compared to income from operations of $19.2 million in the year-ago quarter.  Income from operations, excluding special items (see Table 1), was $11.8 million in the fourth quarter of 2011, compared to $19.9 million during the fourth quarter of 2010.  The special items during the fourth quarter of 2011 included a $1.1 million charge for severance and $0.8 million related to a write-down of unutilized fixed assets in our Glass Operations segment.  The special items in the fourth quarter of 2010 included a $1.5 million gain on redemption of debt, partially offset by a write-down of decorating assets at the Company's Shreveport, Louisiana, facility as well as additional restructuring charges in connection with the 2009 closure of our Syracuse, New York, manufacturing facility.  The change in income from operations excluding special items was largely driven by lower sales, lower production activity related to planned furnace rebuilds, increased selling general and administrative expenses and a $2.0 million unfavorable currency impact, primarily resulting from the devaluation of the peso, partially offset by lower labor and benefit costs and lower natural gas costs.  The $2.3 million  increase in selling, general and administrative expenses was related to a comprehensive strategic review that was started late in the year and includes a review of the Company's markets, competitive position, computer systems and cost structure as well as higher research and development expenses.

Libbey reported earnings before interest and taxes (EBIT) of $9.4 million, compared to EBIT of $19.5 million in the year-ago quarter.  Items that drove the change in EBIT included the lower sales, lower production activity and an unfavorable currency impact, partially offset by the lower labor and benefit costs and lower natural gas costs as discussed above, as well as $0.9 million lower other expense in 2011.  EBIT, excluding special items (see Table 1), was $11.4 million in the fourth quarter of 2011, compared to $18.7 million during the fourth quarter of 2010.  Segment EBIT (see Table 5) was $19.6 million for Glass Operations, compared to segment EBIT of $23.2 million in the year-ago quarter.  Other Operations reported segment EBIT for the fourth quarter of 2011 of $2.4 million, compared to $3.9 million in the year-ago quarter.

Libbey reported Adjusted EBITDA (see Table 3) was $21.3 million in the fourth quarter of 2011, compared to $28.8 million in the fourth quarter of 2010.  The fourth quarter of 2010 included EBITDA related to Traex of $0.5 million.  

Interest expense decreased by $1.4 million to $10.5 million, compared to $11.9 million in the year-ago period, primarily as a result of the impact of the $40.0 million debt repayment completed in March 2011.

The effective tax rate was a benefit of 296.6 percent for the quarter-ended December 31, 2011, compared to 63.5 percent for the quarter-ended December 31, 2010.  The effective tax rate was  heavily impacted by exchange rate losses in the current year on the revaluation of non-peso denominated liabilities due to the peso devaluation in the fourth quarter.  Further, the effective tax rate was influenced by jurisdictions with recorded valuation allowances and changes in the mix of earnings with differing statutory rates.

Libbey reported net income of $2.1 million, or $0.10 per diluted share, for the fourth quarter of 2011, compared to net income of $2.8 million, or $0.13 per diluted share, in the prior-year quarter.  Excluding special items of $2.0 million of expense in the fourth quarter of 2011 and $0.8 million of income in the fourth quarter of 2010, Libbey had net income of $4.1 million (see Table 1) and diluted earnings per share of $0.19 during the fourth quarter of 2011, compared to net income of $1.9 million and diluted earnings per share of $0.09 for the fourth quarter of 2010.  The special items during the fourth quarter of 2011 included a $1.1 million charge for severance and $0.8 million related to a write-down of unutilized fixed assets in our Glass Operations segment.  The special items in the fourth quarter of 2010 included a $1.5 million gain on redemption of debt, partially offset by a write-down of decorating assets at the Company's Shreveport, Louisiana, facility as well as a restructuring charge in connection with the 2009 closure of our Syracuse, New York, manufacturing facility.

Twelve-Month Results

For the year ended December 31, 2011, sales increased 2.2 percent to $817.1 million, compared to $799.8 million in the year ended December 31, 2010.  Sales in the Glass Operations segment were $746.6 million, an increase of 4.0 percent (2.6 percent excluding the impact of currency), compared to $717.6 million in 2010 (see Table 5).  Primary contributors to the increased sales were a 56.3 percent increase in sales within our China sales region (49.3 percent increase excluding currency impact), an 8.3 percent increase in sales within our European sales region (3.0 percent excluding the impact of currency), and a 6.8 percent increase in sales within our International sales region, compared to full-year 2010 sales.  Sales within our Mexico region were essentially flat (excluding the currency impact, sales decreased 1.9 percent).  Sales to U.S. and Canadian foodservice glassware customers increased 2.0 percent.  Sales to U.S. and Canadian retail customers increased 2.7 percent in 2011, compared to 2010, while sales to U.S. and Canadian business-to-business customers were essentially flat in 2011, compared to 2010.  Sales in the Other Operations segment were $71.2 million, compared to $82.8 million in the prior year, reflecting the late April 2011 disposition of substantially all of the assets of Traex.  Sales of Syracuse China products and sales to World Tableware customers were essentially unchanged for the full year.  Sales of Traex products were lower by $11.3 million versus the prior year, as the result of the sale of substantially all of the assets of Traex in late April, accounting for substantially all of the total $11.6 million decrease in sales for Other Operations.  

The Company reported income from operations of $63.5 million during 2011, compared to income from operations of $68.8 million for 2010.  Adjusted income from operations was $69.9 million for the full year 2011, compared to $74.0 million in 2010 (see Table 2).  Factors contributing to the change in adjusted income from operations were higher sales and lower natural gas costs, which were more than offset by the impact of lower capacity utilization, increased selling, general and administrative expenses, higher freight expense, unfavorable currency impact of $1.1 million, primarily resulting from the devaluation of the peso and increases in packaging and raw material costs.  

Earnings before interest and taxes (EBIT) were $68.7 million for 2011, compared to EBIT of $126.8 million in 2010.  Adjusted EBIT for 2011, as detailed in Table 2, was $70.9 million, compared to Adjusted EBIT of $73.8 million for the full year 2010.  Segment EBIT for the Glass Operations segment was $96.7 million in 2011, compared to segment EBIT of $94.7 million in 2010.  The increase is primarily the result of increased sales.  The Other Operations segment reported EBIT for 2011 of $12.0 million, compared to $14.9 million in 2010, with the decrease being the result of slightly higher costs and the sale of substantially all of the assets of Traex in April 2011.  

Libbey reported that Adjusted EBITDA, as detailed in Table 3, was $113.1 million in 2011, compared to Adjusted EBITDA of $115.0 million in 2010.  Included in the Adjusted EBITDA numbers is EBITDA related to Traex of $0.8 million in 2011 and $2.9 million in 2010.

Interest expense decreased by $1.8 million in 2011 to $43.4 million, compared to $45.2 million during 2010.  The decrease in interest expense was primarily attributable to the lower debt levels in 2011 and was partially offset by the fact that prior to the debt refinancing completed in February 2010, a portion of the Company's debt carried a lower effective interest rate as a result of the debt exchange completed in October 2009.

The effective tax rate was 6.5 percent for 2011, compared to 14.2 percent for 2010.  The effective tax rate was heavily impacted by exchange rate losses in the current year on the revaluation of non-peso denominated liabilities due to the peso devaluation in the fourth quarter. Further, the effective tax rate was influenced by valuation allowances and changes in the mix of earnings with differing statutory rates.

Libbey reported net income of $23.6 million for 2011, or $1.14 per diluted share, compared to net income of $70.1 million, or $3.51 per diluted share, in 2010.  Excluding special items of $2.2 million, Libbey had net income of $25.8 million (see Table 2) and diluted earnings per share of $1.24 for 2011, compared to net income of $17.1 million (excluding special items of $53.0 million), or diluted earnings per share of $0.86 in 2010.  The significant special items in 2011 included the $3.4 million gain on the sale of substantially all of the assets of Traex and a $3.4 million gain on the sale of land at Libbey Holland, which were more than offset by $2.7 million in mostly non-cash CEO transition expenses, $2.8 million in expenses related to the redemption in March 2011 of $40.0 million of senior notes, $2.7 million accrued for an on-going unclaimed property audit and $0.8 million for other charges.  The special items in 2010 included a gain of $71.7 million, which represented the difference between the carrying value and the face value of the New PIK notes that were redeemed in February 2010.  This gain was partially offset by the write-off of $13.4 million of unamortized fees and discounts on the refinanced floating rate senior notes and ABL credit facility and call premium payments.  Also included was a write-down of certain after-processing equipment within the Company's Glass Operations segment.

Working Capital and Liquidity

As of December 31, 2011, working capital, defined as inventories and accounts receivable less accounts payable, was $175.1 million, compared to $181.2 million at December 31, 2010.  Working capital as a percentage of the last twelve months' net sales was an all-time record low 21.4 percent at December 31, 2011, compared to 22.6 percent at December 31, 2010.

Free cash flow, as detailed in the attached Table 4, was a source of $37.7 million for the fourth quarter of 2011, compared to a source of $49.4 million in the fourth quarter of 2010.  In addition, $5.5 million in proceeds from the exercise of warrants were received during the fourth quarter of 2011.  This $5.5 million is included in the Financing activities section of the statement of cash flow and is in addition to the $37.7 million of free cash flow for the quarter.  Free cash flow was a source of $31.6 million for the year-ended December 31, 2011, compared to a source of $48.9 million for the year-ended December 31, 2010, after adjusting for the payment of interest on the New PIK notes.  

Libbey reported that it had available capacity of $63.8 million under its ABL credit facility as of December 31, 2011, with no loans currently outstanding.  The Company also had cash on hand of $58.3 million at December 31, 2011, after reducing total gross borrowings by $9.2 million during the fourth quarter.

Continued Progress in Working Capital and Debt Reduction

Stephanie A. Streeter, chief executive officer, said, "The fourth quarter results were negatively impacted by much lower than expected shipments in the month of October, followed by a significantly stronger November and December.  The impact of the fourth quarter on full year results was magnified by the seasonality of our business.  Overall, we remain upbeat about our results.  In spite of the challenges that face the European economy and the modest but spotty improvements in the U.S. economy, we were able to grow sales two percent for the full year 2011.  We were encouraged by the substantial growth in our China sales region and the slightly improved performance of the U.S. and Canadian retail and foodservice channels of distribution.  We continue to be pleased with our working capital reductions over the past twelve months and finished 2011 with working capital as a percentage of last twelve months sales at an all-time low for any quarter of any year at 21.4 percent.  We reduced gross debt by $52.5 million in 2011 and continue to move ourselves toward a position that will allow us to better align our capital structure."

Webcast Information

Libbey will hold a conference call for investors on Thursday, February 16, 2012, at 11 a.m. Eastern Standard Time.  The conference call will be simulcast live on the Internet and is accessible from the Investor Relations section of www.libbey.com. To listen to the call, please go to the website at least 10 minutes early to register, download and install any necessary software.  A replay will be available for seven days after the conclusion of the call.

This press release includes forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended.  Such statements only reflect the Company's best assessment at this time and are indicated by words or phrases such as "goal," "expects," " believes," "will," "estimates," "anticipates," or similar phrases.  Investors are cautioned that forward-looking statements involve risks and uncertainty and that actual results may differ materially from these statements, and that investors should not place undue reliance on such statements.  These forward-looking statements may be affected by the risks and uncertainties in the Company's business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K filed with the Commission on March 14, 2011.  Important factors potentially affecting performance include but are not limited to increased competition from foreign suppliers endeavoring to sell glass tableware in the United States and Mexico; the impact of lower duties for imported products; global economic conditions and the related impact on consumer spending levels; major slowdowns in the retail, travel or entertainment industries in the United States, Canada, Mexico, Western Europe and Asia, caused by terrorist attacks or otherwise; significant increases in per-unit costs for natural gas, electricity, freight, corrugated packaging, and other purchased materials; high levels of indebtedness; high interest rates that increase the Company's borrowing costs or volatility in the financial markets that could constrain liquidity and credit availability; protracted work stoppages related to collective bargaining agreements; increases in expense associated with higher medical costs, increased pension expense associated with lower returns on pension investments and increased pension obligations; devaluations and other major currency fluctuations relative to the U.S. dollar and the Euro that could reduce the cost competitiveness of the Company's products compared to foreign competition; the effect of high inflation in Mexico and exchange rate changes to the value of the Mexican peso and the earnings and cash flow of Libbey Mexico, expressed under U.S. GAAP; the inability to achieve savings and profit improvements at targeted levels in the Company's operations or within the intended time periods; and whether the Company completes any significant acquisition and whether such acquisitions can operate profitably.  Any forward-looking statements speak only as of the date of this press release, and the Company assumes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date of this press release.

Libbey Inc.:

• is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world;
• is the leading manufacturer of tabletop products for the U.S. foodservice industry; and
• supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries.

Based in Toledo, Ohio, since 1888, Libbey operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands.  Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America.  Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients.  Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe.  Its newest subsidiary, Libbey China, is located in Langfang, China.  Its Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States.  Its World Tableware subsidiary imports and sells a full-line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States.  In 2011, Libbey Inc.'s net sales totaled $817.1 million.

In accordance with the SEC's Regulation G, tables 1, 2, 3, 4 and 5 provide non-GAAP measures used in this earnings release and a reconciliation to the most closely related Generally Accepted Accounting Principle (GAAP) measure.  Libbey believes that providing supplemental non-GAAP financial information is useful to investors in understanding Libbey's core business and trends.  In addition, it is the basis on which Libbey's management assesses performance.  Although Libbey believes that the non-GAAP financial measures presented enhance investors' understanding of Libbey's business and performance, these non-GAAP measures should not be considered an alternative to GAAP.