Top Cranberry and Juice Company Joins Equipnet Client Roster for Surplus Asset Management

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Massachusetts Firm Chosen to Manage Ocean Spray's Surplus Assets in North America

Like the popular Craisins® it produces, Ocean Spray's deal with EquipNet is surprisingly sweet for both companies. EquipNet announces today that it has signed an exclusive corporate agreement with Ocean Spray to manage the company's surplus assets.

Under the agreement, EquipNet will recommend the appropriate disposition of idle processing and packaging equipment at all of Ocean Spray's North American locations. According to Michael Browne, Director of Engineering and Technology Services at Ocean Spray, the company was impressed with EquipNet's reputation as the leading provider of surplus asset management. "When we found out all the different top companies that used EquipNet, we knew we had to investigate what they could do for us," remembers Browne. "With EquipNet's help, I feel confident we will be able to maximize the return on our investment into all the expensive equipment we're no longer using but that still has life left in it."

EquipNet CEO and President Roger Gallo notes that Ocean Spray selected the Canton company because of its ability to customize solutions for each individual client. "Ocean Spray used to sell its idle equipment through another company," explains Gallo. "But they wanted to shift their business to a client-focused firm with a flexible asset disposition process. EquipNet's Cascading Liquidation™ philosophy offers Ocean Spray and all our clients with the opportunity to utilize the right marketing strategy for the right asset at the right time."

EquipNet delivers maximum benefits with minimal effort required. Depending on a company's particular assets and timeline, EquipNet can track your company's assets; redeploy equipment to another location within the same company; sell the asset on its online MarketPlace™, list the items in a live, webcast, or online auction; manage and document the donation of the equipment; or sell it for scrap.
EquipNet is the leading provider of proactive asset management solutions and services to leading corporations in the pharmaceutical, biotech, chemical, and consumer packaged goods industries, including Unilever, Eastman Chemical, GlaxoSmithKline, AstraZeneca, and now Ocean Spray. EquipNet's vision is to revolutionize the way companies manage their surplus assets by maximizing financial returns and minimizing the risks associated with idled capital assets. For more information, please visit: http://www.EquipNet.com.

Ocean Spray is an agricultural cooperative owned by more than 600 cranberry growers in Massachusetts, Wisconsin, New Jersey, Oregon, Washington, British Columbia, and other parts of Canada as well as more than 50 Florida grapefruit growers. Ocean Spray was formed over 75 years ago by three cranberry growers from Massachusetts and New Jersey. Florida grapefruit growers joined the Cooperative in 1976. Ocean Spray is North America's leading producer of canned and bottled juices and juice drinks, and has been the best-selling brand name in the canned and bottled juice category since 1981. Ocean Spray posted fiscal 2007 earnings of roughly $1.7 billion.

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Ben Potenza
Equipnet, Inc.
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