SOURCE: Stericycle ExpertSOLUTIONS

Stericycle ExpertSOLUTIONS

April 14, 2014 10:00 ET

Stericycle ExpertSOLUTIONS Launches European Recall Index to Expand Its Index Reporting Globally

First European Recall and Notification Index Shows 29 Percent Rise in Voluntary Notifications

INDIANAPOLIS, IN--(Marketwired - Apr 14, 2014) -  Stericycle ExpertSOLUTIONS™ (NASDAQ: SRCL) today announced a new European index to track and analyze recalls and notifications in Europe. This index is a global expansion of the company's U.S. report which tracks recalls quarterly from U.S. agencies.

"Industries and the media rely on our quarterly Stericycle Recall Index in the U.S. to understand recall trends and adjust business practices accordingly," said Kevin Pollack, vice president, Stericycle. "We are excited to offer expanded global reporting to provide critical information to European and multinational companies as they focus on strengthening ties with customers and complying with regulations."

The fourth quarter 2013 U.S. report showed an increase in a number of critical data points underscoring that the recall industry is more complex and challenging than ever. Among the factors contributing to this "recall sprawl" were geographic expansion, an increase in international recalls and numerous large-scale events.

The Stericycle 2013 European Recall and Notification Index saw a consistent rise in voluntary notifications over the last three years indicating a shift in business practices across Europe. These notifications now account for 21 percent of the total number issued. There was a marginal decline in the total number of notifications issued by European agencies for consumer goods and food regulation, which further demonstrates the significance of the rise in voluntary actions.

There were a total of 5,569 total product safety notifications issued via the primary European agencies in 2013 (which are RAPEX and RASFF). Hungary, Germany and Spain issued the most notifications. Hungary issued every one of its 278 under compulsory circumstances; Germany issued 71 percent of its 259 voluntarily. This shows the variations that exist across Europe, but the overall upward trend indicates that companies are taking control of their product recall and notification processes and actively removing dangerous products from the market to protect their customers. This customer-centric approach is critical as recalls are becoming more common and complex due to a heavy reliance on the global supply chain.

"Just as Europe is seeing a rise in voluntary actions, U.S. companies are experiencing 'recall sprawl' with large scale recall events touching multiple geographies," added Pollack. "Data from the U.S. and Europe reinforce the idea that it's critical that manufacturers in both regions understand these challenges and are prepared to take control and get out ahead of any potential issues that could lead to a full-blown recall."

About the Stericycle European Index
The Stericycle European Index gathers and tracks cumulative data from the two primary European agencies that track recalls and notifications in the region. This data is segmented into multiple definitions of notifications and alerts, but collated into a central figure for the purpose of analysis. For more information, visit http://recall.stericycleexpertsolutions.com/index/.

About Stericycle ExpertSOLUTIONS™
Stericycle ExpertSOLUTIONS™ is the industry leader in managing consumer product, pharmaceutical, medical device, juvenile product, and food and beverage recalls. Stericycle ExpertSOLUTIONS streamlines the entire product recall process and manages Notification & Response, Processing & Tracking, and Compliance & Reporting for a variety of companies. For more information, visit http://recall.stericycleexpertsolutions.com/en/.

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