Gilbarco Veeder-Root Announces Strategic Alliance with Autotank

Agreement means supplying full line of products throughout Norway, Sweden, and Finland

Richmond, United Kingdom - November 4, 2002. Gilbarco Veeder-Root are pleased to announce they have reached an agreement with Autotank for the supply of all Gilbarco and Veeder-Root products throughout Norway, Sweden and Finland.

"Autotank is the leading provider of service station automation systems and maintenance services in Scandinavia. As such, they were a natural partner for Gilbarco Veeder-Root, a leading manufacturer of fuel station equipment" says Patrick Forsythe, Sales & Marketing Director EMEA at GVR. "We are very pleased with this new arrangement."

"Autotank's core competitive advantage lies in our in-depth knowledge of the Northern markets, awareness of customer specific needs and expertise in the development of fuel payment automation. We felt that Gilbarco Veeder-Root's broad range of forecourt equipment and solutions complements both the Autotank business and our vision of becoming the leading supplier in Northern Europe" stated Paul Johnson from Autotank.

Gilbarco Veeder-Root has appointed Autotank as a key distributor for their full product range in Norway, Sweden and Finland. The product lines include:

Dispensers
Retail Automation Systems
Automatic Tank Gauges
Submersible Pumps

About Autotank Group
By bringing Aspo Systems and Autotank AB together, Autotank Group has become the biggest supplier of Petrol Retail Solutions in the Nordic countries. Autotank continuously invests in product development to provide technically superior solutions backed by comprehensive maintenance for automated fuel dispensing. Autotank is a wholly owned subsidiary of the Aspo Group, being its Systems Division. The Aspo Group, which provides logistics services to the industry, has two other divisions: Chemicals and Shipping. Both divisions focus on the same market concentrating around the Baltic Sea. (www.autotank.com)

Contact:
Jacqueline Smith, Gilbarco Veeder-Root EMEA
Tel: +44 (0)20 8392 1355
fax: +44 (0)20 8878 6642.
Email:jacqueline_smith@veeder.co.uk

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