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Hewlett-Packard Company : News Release: HP Opens Technology Renewal Center in Scotland

05/15/2012 | 06:27am US/Eastern
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HP Opens Technology Renewal Center in Scotland

Presence expands asset management and recovery service capabilities for HP Financial Services

PALO ALTO, Calif., May 15, 2012

HP today announced the opening of a technology renewal center in Erskine, Scotland, enabling commercial HP customers to acquire certified legacy HP products and participate in equipment reuse programs, regardless of equipment type or manufacturer.

Owned and operated by HP Financial Services, the company's leasing and asset management subsidiary, the 8,400-square-meter facility provides customers in Europe, and around the world, with a full range of IT legacy asset management and reuse services. The services provided by the renewal center are specifically focused on helping large business enterprises handle the complexities and challenges associated with the life cycle management of IT equipment. The facility will help reduce potential e-waste by renewing older IT equipment.

"HP has full responsibility for the equipment that we take out of service," said Paul Sadler, service delivery manager in the Education Department for the States of Guernsey Government, an HP customer. "Without HP's help, we would have to pay to store our decommissioned equipment."

Renewal services are a key component to the center's operations. IT equipment processed at the facility is put through a rigorous renewal process that includes reconditioning, testing and certifying assets back to original manufacturing standards before they are remarketed.

"HP Financial Services manages and remarkets more than 2.3 million legacy IT assets each year," said Jim O'Grady, director, Global Asset Management, HP Financial Services. "Equipped to handle the strategic requirements of enterprises large and small, the Erskine facility will enable HP Financial Services to significantly expand the global capabilities, asset management and recycling services we provide our customers." 

Providing asset management and recovery services to customers for more than a decade, HP Financial Services works to ensure chain-of-custody control is established before taking back HP or non-HP technology at the end of a lease period or during the upgrade refresh cycle. As customers deploy new technology solutions, HP Financial Services will remove and dismantle old or end-of-life equipment that no longer meets strategic needs.

HP Financial Services is the second-largest captive IT leasing company in the world and offers a full range of life cycle asset management and financial solutions for businesses. HP Financial Services develops financial solutions that can enhance clients' ability to implement IT infrastructures that meet their needs today, and into the future.

More information about HP Financial Services is available at www.hp.com/hpfinancialservices. Follow us on Twitter @HPFinancialSvcs.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans , personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations, including execution of cost reduction programs and restructuring and integration plans; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; expectations and assumptions relating to the execution and timing of cost reduction programs and restructuring and integration plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2012 and HP's other filings with the Securities and Exchange Commission, including HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2011. HP assumes no obligation and does not intend to update these forward-looking statements.

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