This is a very significant financial milestone as this kind of security has never been equaled in this industry
Peachtree City, GA (Vocus) June 11, 2009
FieldTurf, a subsidiary of Tarkett Sports, confirmed today that its aggregate limit per policy year on its prepaid warranty insurance policy has increased to US$13,000,000. The company is once again setting the standard in the industry for ultimate customer protection. The policy previously had a US$10 million limit annually and this US$3 million dollar increase further separates Tarkett Sports from the competition when it comes to customer protection. With the organization’s industry leading policy, there is no deductible, no limit per claim, no retention, and no retention period. All FieldTurf fields are automatically covered upon issuance of the Warranty Certificate.
In addition to the rock solid warranty policy, Tarkett Sports continues to earmark $500,000 in an ‘In Trust’ bank account to serve as a preliminary layer of protection which is exclusively for small warranty repairs - to cover any possible repair work needed on projects installed.
“This is a very significant financial milestone as this kind of security has never been equaled in this industry,” said Tarkett Sports CEO Joe Fields. “With the failures of artificial turf companies in the past, it should be comforting to clients that Tarkett Sports is financially protected from catastrophic product failures and that our clients themselves are protected in the unlikely event Tarkett Sports ceases to be around to warrant its products. Over thirty companies in the artificial turf industry have gone bankrupt in recent years, leaving their customers with no protection and worthless warranties. We go forward never looking back because we continue to set the bar and have invested in our security and that of our clients. We have secured this by paying out over $9 million in insurance premiums in the past 7 years alone.”
FieldTurf offers industry leading engineering and manufacturing resources, unparalleled leasing and financing capabilities and leads the synthetic turf industry with regard to setting higher environmental standards. FieldTurf is the global market leader in terms of synthetic sports fields with over 3000 fields installed. Additionally, FieldTurf has attained over 12,000 satisfied customers in high quality pet, residential, commercial and municipal landscaping solutions, playground surfacing and has a complete range of golf and tennis products. FieldTurf synthetic turf customers enjoy the benefits of significantly reduced water consumption, the elimination of fertilizer and pesticides, superior durability and drainage and a product that looks and feels real. The positive environmental impact of FieldTurf provides the added benefit of LEED building contributions.
FieldTurf is part of Tarkett Sports, a Division of the Tarkett Group. Tarkett Sports is the largest entity in the sports and landscape surfacing industries. Included within the Tarkett Sports portfolio is an impressive range of performance sports flooring products. This product range includes: synthetic and hardwood basketball; volleyball and gymnasium flooring; squash and racquetball courts; floor protection and covering systems; weight room flooring; and high performance indoor and outdoor running tracks, featuring Beynon track surfaces. All Tarkett Sports surfaces are developed, produced and installed with a concentration on sustainability and a commitment to protecting the environment, providing additional LEED contribution opportunities for customers. The company calls this focus on sustainability and the environment 'Environmental Intelligence' and all company personnel strive to exemplify this philosophy in all aspects of the business. For more information, please visit http://www.fieldturf.com