SMF ENERGY Expands Mobile Fueling for Large Regional Anchor Customer in Three Key Sunbelt States
November 09 2009 - 9:00AM
PR Newswire (US)
FT. LAUDERDALE, Fla., Nov. 9 /PRNewswire-FirstCall/ -- SMF ENERGY
CORPORATION (NASDAQ:FUEL) (the "Company"), a leading energy
logistics company providing efficient, just in time, distribution
of petroleum products and chemicals, today announced the opening of
new locations in Spartanburg and North Augusta, South Carolina, and
Knoxville, Tennessee, bringing the Company's total logistics
network to 34 cities in 11 states. This expansion is being done in
conjunction with the commencement of mobile fueling services in the
Carolinas and Tennessee to a large regional trucking company. That
new business alone is expected to add at least 4 million
incremental gallons on an annualized basis, which would, by itself,
represent a 6% increase to the 67 million gallons reported in
fiscal 2009. Volumes in the expanded area should grow with sales
and marketing personnel now being focused on potential customers.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20090513/SMFENERGYCORPLOGO )
Richard E. Gathright, President and CEO commented, "This expansion
is just the latest example of SMF's organic growth strategy. We
move into new locations with customer order support already in hand
for low entry costs. We have the ability to quickly establish
operations in new cities due to our sophisticated logistics
systems, a large fleet of equipment and capable personnel. The new
locations announced today fill gaps in our existing Upper Southeast
and Mid-Atlantic States network. This step will allow us to service
existing customers in markets where we have not previously
operated, as well as attract new customers in high potential
markets such as the Spartanburg and Greenville area of northwestern
South Carolina, the North Augusta to Columbia, South Carolina
corridor, and eastern Tennessee from Chattanooga to Knoxville.
Importantly, these expansions will also facilitate our obtaining
new, large customers in our historical markets where our ability to
supply them in a broader regional area has been a prerequisite to
obtaining their business. Mr. Gathright continued, "SMF pioneered
and patented bar code computerized fueling with wireless
identification of customer vehicles, providing efficient, labor
saving fueling, real time accurate customer billings and fleet
management information that can materially reduce equipment
operating costs and improve efficiency. Refueling our customers'
truck fleets at night in their own yards has many advantages,
including eliminating environmental problems with tanks on-site and
avoiding wasted driver delivery time whether refueling on or
off-site. Historically high fuel prices from 2007 through the
summer of 2008 followed by the current recession have keenly
focused fleet operators, large and small, on the fact that labor
and other costs are material components of overall fueling costs in
addition to the fuel price per gallon. Our current expansion is
underpinned by customer confidence in our outsourced fueling
solution built on a reputation for quality and dependable service.
After all, if we do not fill the tanks, our customers' equipment
does not move and their businesses do not operate." ABOUT SMF
ENERGY CORPORATION (NASDAQ:FUEL) The Company is a leading provider
of petroleum product distribution services, transportation
logistics and emergency response services to the trucking,
manufacturing, construction, shipping, utility, energy, chemical,
telecommunication and government services industries. The Company
provides its services and products through 34 locations in the 11
states of Alabama, California, Florida, Georgia, Louisiana, Nevada,
Mississippi, North Carolina, South Carolina, Tennessee and Texas.
The broad range of services the Company offers its customers
includes commercial mobile and bulk fueling; the packaging,
distribution and sale of lubricants and chemicals; integrated
out-sourced fuel management; transportation logistics and emergency
response services. The Company's fleet of custom specialized tank
wagons, tractor-trailer transports, box trucks and customized
flatbed vehicles delivers diesel fuel and gasoline to customers'
locations on a regularly scheduled or as needed basis, refueling
vehicles and equipment, re-supplying fixed-site and temporary bulk
storage tanks, and emergency power generation systems; and
distributes a wide variety of specialized petroleum products,
lubricants and chemicals to our customers. More information on the
Company is available at www.mobilefueling.com. FORWARD LOOKING
STATEMENTS This press release includes "forward-looking statements"
within the meaning of the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. For example, predictions
or statements of belief or expectation concerning the future
performance of the Company and the potential for further growth of
the Company in its new market areas are all "forward looking
statements" which should not be relied upon. Such forward-looking
statements are based on the current beliefs of the Company and its
management relying on information known to them at this time.
Because these statements depend on various assumptions as to future
events, they should not be relied on by shareholders or other
persons in evaluating the Company. Although management believes
that the assumptions reflected in such forward-looking statements
are reasonable, actual results could differ materially from those
projected. In addition, there are numerous risks and uncertainties
that could cause actual results to differ from those anticipated by
the Company, including but not limited to those cited in the "Risk
Factors" section of the Company's Form 10-K for the year ended June
30, 2009. Contact: Robert W. Beard Senior Vice President and
Investor Relations Officer 954-308-4200
http://www.newscom.com/cgi-bin/prnh/20090513/SMFENERGYCORPLOGO
http://photoarchive.ap.org/ DATASOURCE: SMF ENERGY CORPORATION
CONTACT: Robert W. Beard, Senior Vice President and Investor
Relations Officer of SMF ENERGY CORPORATION, +1-954-308-4200 Web
Site: http://www.mobilefueling.com/
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