New Corporate Payment Solution to Deliver
Innovative Features to Shell Commercial Fleet Customers
WEX Inc. (NYSE:WEX), a global provider of industry-leading
corporate payment solutions, today announced that it has reached an
agreement with Equilon Enterprises LLC dba Shell Oil Products US
and Shell Canada Products (“Shell”), one of the largest branded
commercial fleet fuel card providers in the world, to issue and
operate Shell’s full portfolio of commercial fleet cards in the
United States and Canada. Shell and WEX anticipate launching their
first commercial fleet product August 1, 2018.
“We are excited to offer better functionality and improved
customer service to our Fleet Solutions customers by building on
our state-of-the-art fleet controls,” said Rusty Barron, vice
president and general manager of Shell Fleet Solutions, North
America. “Delivering dedicated, best-in-class customer service is
important to us, and this new relationship with WEX highlights our
commitment to providing customers with personalized support and
innovative features to solve their unique fleet management
challenges.”
As the new provider for Shell’s commercial fleet cards, WEX will
provide Shell’s commercial fleet customers with the full range of
features, functionality and solutions needed to meet the everyday
demands of a modern fleet. This relationship builds on the latest
enhancements and improvements Shell made earlier this year by
upgrading to WEX Spec, WEX’s network specification, which allows
fleet managers better control and visibility when managing their
fueling transactions.
“We’re excited to add the Shell brand to our commercial fleet
card services portfolio and to leverage their strong market
presence in North America,” said Melissa Smith, WEX’s president and
chief executive officer. “The agreement with Shell underscores our
commitment to growth in the North American fleet market and offers
fleet customers another robust fleet card program option with one
of the most recognized brands in the industry.”
Shell Fleet Solutions’ full portfolio of commercial cards
includes the Shell Fleet Navigator® Card, a universal fuel card for
larger fleets, the Shell Fleet Plus Card and the Shell Small
Business Card. To learn more about Shell Fleet Solutions and its
offerings for North America, visit
https://www.shell.us/business-customers/shell-commercial-cards or
www.shell.ca/fleetsolutions.
About WEX Inc.
Powered by the belief that complex payment systems can be made
simple, WEX Inc. (NYSE: WEX) is a leading provider of payment
processing and business solutions across a wide spectrum of
sectors, including fleet, travel and healthcare. WEX operates in
more than 10 countries and in more than 20 currencies through more
than 3,300 associates around the world. WEX fleet cards offer 11.5
million vehicles exceptional payment security and control; purchase
volume in its travel and corporate solutions grew to $30.3 billion
in 2017; and the WEX Health financial technology platform helps
300,000 employers and more than 25 million consumers better manage
healthcare expenses. For more information, visit
www.wexinc.com.
About Shell
Shell Oil Company is an affiliate of the Royal Dutch Shell plc,
a global group of energy and petrochemical companies with
operations in more than 70 countries. In the U.S., Shell operates
in 50 states and employs more than 20,000 people working to help
tackle the challenges of the new energy future. Shell Oil Company
is a leading oil and gas producer in the deepwater Gulf of Mexico,
a recognized pioneer in oil and gas exploration and production
technology and one of America’s leading oil and natural gas
producers, gasoline and natural gas marketers and petrochemical
manufacturers. Learn more at www.shell.us.
Shell Oil Products US is a leader in the refining,
transportation and marketing of fuels, and has a network of more
than 13,200 Shell-branded gasoline stations across the United
States.
In Canada, Shell has been operating for over 100 years and
employs over 4,000 people across the country. Our business is
providing energy to Canadians and people around the world, and we
are one of the few truly integrated oil and gas companies in
Canada. Learn more at www.shell.ca.
WEX Cautionary Note
This news release also contains forward-looking statements,
including statements regarding WEX Inc.’s (“WEX”): expectations for
future market opportunities, operations and business expansion. Any
statements that are not statements of historical facts may be
deemed to be forward-looking statements. When used in this news
release, the words "may," "could," "anticipate," "plan,"
"continue," "project," "intend," "estimate," "believe," "expect"
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
such words. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
to differ materially, including: WEX's failure to successfully
operate and expand Shell’s fuel card programs; the effects of
general economic conditions on fueling patterns as well as payment
and transaction processing activity; the impact of foreign currency
exchange rates on WEX’s operations, revenue and income; changes in
interest rates; the impact of fluctuations in fuel prices; the
effects of WEX’s business expansion and acquisition efforts;
potential adverse changes to business or employee relationships,
including those resulting from the completion of an acquisition;
competitive responses to any acquisitions; uncertainty of the
expected financial performance of the combined operations following
completion of an acquisition; the ability to successfully integrate
WEX's acquisitions; the ability to realize anticipated synergies
and cost savings; unexpected costs, charges or expenses resulting
from an acquisition; WEX's failure to successfully operate and
expand ExxonMobil's European and Asian commercial fuel
card programs; the failure of corporate investments to result in
anticipated strategic value; the impact and size of credit losses;
the impact of changes to WEX's credit standards; breaches of WEX’s
technology systems or those of our third-party service providers
and any resulting negative impact on our reputation, liabilities or
relationships with customers or merchants; WEX’s failure to
maintain or renew key agreements; failure to expand WEX’s
technological capabilities and service offerings as rapidly as
WEX’s competitors; failure to successfully implement WEX's
information technology strategies and capabilities in connection
with its technology outsourcing and insourcing arrangements and any
resulting cost associated with that failure; the actions of
regulatory bodies, including banking and securities regulators, or
possible changes in banking or financial regulations impacting
WEX’s industrial bank, WEX as the corporate parent or other
subsidiaries or affiliates; the impact of WEX’s outstanding notes
on its operations; the impact of increased leverage on WEX's
operations, results or borrowing capacity generally, and as a
result of acquisitions specifically; the incurrence of impairment
charges if our assessment of the fair value of certain of our
reporting units changes; the uncertainties of litigation; as well
as other risks and uncertainties identified in Item 1A of our
annual report for the year ended December 31, 2017, filed on
Form 10-K with the Securities and Exchange
Commission on March 1, 2018. WEX's forward-looking
statements do not reflect the potential future impact of any
alliance, merger, acquisition, disposition or stock repurchases.
The forward-looking statements speak only as of the date of news
release and undue reliance should not be placed on these
statements. WEX disclaims any obligation to update any
forward-looking statements as a result of new information, future
events or otherwise.
Shell Cautionary Note
The companies in which Royal Dutch Shell plc directly and
indirectly owns investments are separate legal entities. In this
news release “Shell”, “Shell group” and “Royal Dutch Shell” are
sometimes used for convenience where references are made to Royal
Dutch Shell plc and its subsidiaries in general. Likewise, the
words “we”, “us” and “our” are also used to refer to Royal Dutch
Shell plc and subsidiaries in general or to those who work for
them. These terms are also used where no useful purpose is served
by identifying the particular entity or entities. ‘‘Subsidiaries’’,
“Shell subsidiaries” and “Shell companies” as used in this news
release refer to entities over which Royal Dutch Shell plc either
directly or indirectly has control. Entities and unincorporated
arrangements over which Shell has joint control are generally
referred to as “joint ventures” and “joint operations”,
respectively. Entities over which Shell has significant influence
but neither control nor joint control are referred to as
“associates”. The term “Shell interest” is used for convenience to
indicate the direct and/or indirect ownership interest held by
Shell in an entity or unincorporated joint arrangement, after
exclusion of all third-party interest.
This news release contains forward-looking statements (within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995) concerning the financial condition, results of operations and
businesses of Royal Dutch Shell. All statements other than
statements of historical fact are, or may be deemed to be,
forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of
Royal Dutch Shell to market risks and statements expressing
management’s expectations, beliefs, estimates, forecasts,
projections and assumptions. These forward-looking statements are
identified by their use of terms and phrases such as “aim”,
“ambition’, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’,
‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’,
‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’,
“schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar
terms and phrases. There are a number of factors that could affect
the future operations of Royal Dutch Shell and could cause those
results to differ materially from those expressed in the
forward-looking statements included in this news release, including
(without limitation): (a) price fluctuations in crude oil and
natural gas; (b) changes in demand for Shell’s products; (c)
currency fluctuations; (d) drilling and production results; (e)
reserves estimates; (f) loss of market share and industry
competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and
completion of such transactions; (i) the risk of doing business in
developing countries and countries subject to international
sanctions; (j) legislative, fiscal and regulatory developments
including regulatory measures addressing climate change; (k)
economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation
and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and
delays in the reimbursement for shared costs; and (m) changes in
trading conditions. No assurance is provided that future dividend
payments will match or exceed previous dividend payments. All
forward-looking statements contained in this news release are
expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. Readers should not place
undue reliance on forward-looking statements. Additional risk
factors that may affect future results are contained in Royal Dutch
Shell’s 20-F for the year ended December 31, 2017 (available at
www.shell.com/investor and www.sec.gov ). These risk factors also
expressly qualify all forward looking statements contained in this
news release and should be considered by the reader. Each
forward-looking statement speaks only as of the date of this news
release, June 4, 2018. Neither Royal Dutch Shell plc nor any of its
subsidiaries undertake any obligation to publicly update or revise
any forward-looking statement as a result of new information,
future events or other information. In light of these risks,
results could differ materially from those stated, implied or
inferred from the forward-looking statements contained in this news
release.
We may have used certain terms, such as resources, in this news
release that United States Securities and Exchange Commission (SEC)
strictly prohibits us from including in our filings with the SEC.
U.S. Investors are urged to consider closely the disclosure in our
Form 20-F, File No 1-32575, available on the SEC website
www.sec.gov.
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INQUIRIES:WEX Inc.Robert Gould, +1 207-523-7429
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