Compugen Inc.

Compugen Inc.

October 16, 2008 16:36 ET

Compugen IT Asset Disposition Program Helps Customers Solve e-Waste Problems, While Avoiding Data Privacy & Environmental Compliance Risks

RICHMOND HILL, ONTARIO--(Marketwire - Oct. 16, 2008) - Compugen Finance Inc. (CFI), a wholly owned subsidiary of Compugen, Inc., one of the largest Canadian-owned IT solution providers and PC systems integrators, is pleased to announce the addition of Gord Manary to the firm in the new position of Manager of Asset Disposition.

Manary will be responsible for further developing CFI's ReCycleIT Asset Disposition Service offering and helping Compugen customers across Canada dispose of end-of-life electronic equipment - commonly called "e-waste" - in a way that ensures data security and privacy and meets the highest levels of environmental standards and regulatory compliance.

As part of its ReCycleIT program, Compugen Finance has already been helping customers dispose of IT assets that still have value by refurbishing and remarketing those assets to any one of the thousands of customers that the firm deals with throughout North America, such as small businesses and school boards. The company was finding, however, that as many as 75 percent of its customers' end-of-life IT assets have little or no residual value, leaving customers with a significant disposal problem.

"We wanted to add a recycling service to the ReCycleIT program to address customers' disposal needs and solve their growing concerns about data protection and environmental sustainability," says Steve Glover, senior vice-president, Compugen Finance Inc. "Gord comes to us with an extensive background in financing, leasing and environmental issues that will help us provide this service professionally and minimize customers' recycling risks, while helping them align their IT activities with their 'green computing' goals.

After graduating from the University of Toronto, Manary has spent most of his career in sales, financing and leasing activities in the IT industry. Most recently, he managed Ingram Micro U.S.'s Financial Services organization and built financial lending solutions for distributors, resellers OEMs and VARs while at American Express Leasing in the U.S.

"Compugen has for quite some time been a very strong proponent of a TCO approach to managing IT assets," says Manary. "Whether it's refurbishing and remarketing surplus products or disposing of them, the ReCycleIT asset disposition service adds the last piece to Compugen's TCO services model, giving customers a single, cradle-to-grave partner for the complete spectrum of IT lifecycle services - from procurement and financing, to installation and ongoing support, and now to final disposition."

Since Joining Compugen, Manary has been overseeing an exciting new partnership with ARTEX Environmental Corporation, which operates a secure, state-of-the-art electronics waste recycling facility for all types of computer and telecommunications equipment, A/V equipment, copiers, fax machines, postage meters, medical and scientific equipment and more. The ARTEX facility is designed to process end-of-life electronic products, while optimizing the recovery of recyclable components, such as plastics and metals, and removing hazardous materials for safe and proper handling by certified downstream suppliers. As a result of the partnership, Compugen can state categorically that its ReCycleIT Asset Disposition Service ensures that customers' end-of-life products will not end up in landfill sites and that they will be 100 percent recycled in accordance with best practices in data security and environmental stewardship.

"A lot of companies are now aware of the e-waste problem and are doing something about it," claims Manary; "But I think the ReCycleIT program at Compugen is a little head of the curve and bang-on for what businesses in Canada need."

About Compugen

Compugen, one of the largest Canadian-owned IT solution providers and PC systems integrators, has been providing practical, real-world IT infrastructure solutions since it was founded in 1981. Today, Compugen's experienced team of IT professionals helps medium-size and large corporations and government agencies across Canada with enterprise-level solutions that optimize IT costs and leverage technology for better business results. Compugen Finance Inc., a wholly owned subsidiary, offers technology leasing services and ReCycleIT, a comprehensive end-of-life technology disposition service.

For more information on CFI's ReCycleIT Asset Disposition Services, visit www.compugen.com.

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