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Provenco continues global expansion

Provenco continues global expansion with first European contract signed

Provenco to supply technology to Belgian Shell NV/SA retail petrol stations

Listed technology company Provenco has signed its first deal in Europe, by supplying its payments technology to more than 200 Belgian Shell NV/SA retail petrol stations in Belgium.

The contract is valued at approximately $NZ 3.5 million and is for the design, development and delivery of an electronic payments system and outdoor payment capability for its retail petrol stations.

Provenco will provide site system architecture and integration expertise along with payments technology to deliver a cost-effective solution that meets the customer’s needs.

Provenco’s chief executive officer David Ritchie described the deal as a significant step forward in Provenco’s international growth strategy.

“The deal with Belgian Shell NV/SA represents an exciting step forward into the European market. Our relationship with Shell is a long one, and we intend to continue it with timely and quality delivery to meet Shell’s needs.

“Our work with Shell in Asia and now in Europe shows that Provenco is a truly global business and able to assist its customers across different countries, cultures and time zones.”

Minister of Trade, Hon. Phil Goff, said the deal was an exciting milestone for Provenco.

“This is an excellent example of a New Zealand company competing internationally and confirms the government’s commitment to ensuring New Zealand-based businesses can effectively operate in the global market.”

Mr Ritchie said Provenco’s increasingly diverse range of global customers shows the company is large enough to deliver complex projects that span different environments but small and dynamic enough to meet demanding and highly technical project requirements.

“For this project, Provenco has partnered with local experts to ensure Provenco meets the elements of the project that are specific to the local market.”

The latest deal is a further development in the relationship between Shell and Provenco.

Provenco signed a major contract with Shell in late 2004 to supply outdoor payment terminals to their outlets in the Asia Pacific.

The 2004 Shell contract in Asia Pacific helped open doors for Provenco in other international markets including the United States, the Middle East, India and China.

Mr Ritchie said the Belgian Shell NV/SA contract was a further endorsement of Provenco’s proven expertise in site system architecture and fuel systems and indicated its potential in Europe.

“Provenco is well-placed to continue its successful work in a range of international markets including Europe. Success in the European market is critical to Provenco’s global growth strategy and our relationship with Shell and in particular the deal with Belgian Shell NV/SA serves as an excellent starting point.”

ENDS

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