Sage Parts acquires CREG International

Farmingdale, New York, April 22, 2002 – Sage Parts, the world's leading supplier of replacement parts for aircraft ground support equipment (GSE), has announced the acquisition of CREG International, headquartered in Castroville, California. The strategic blending of the two company's resources will mean significant benefits to both Sage and CREG customers.

"The joining together of Sage Parts and CREG International represents a synergistic combination of complementary strong points that will result in even more responsive service to our customers," said Mark Pollack, Sage President and CEO. "All the advantages that Sage offers the GSE industry...our extensive ready-to-ship GSE parts inventory, our data containing detailed information about each part, our geographically diverse distribution points, our vast knowledge of GSE parts...these are all substantially enhanced with the addition of the CREG family to our team."

Sage Parts has been the industry's foremost expert in GSE replacement parts since 1970. CREG International was formed in 1978 and has grown into a global distributor of GSE parts and support. As a combined entity, the two companies offer GSE operators the important advantages of working with a single-source GSE replacement parts supplier that can offer unmatched personal service. "Since we started our company over 20 years ago, the vision has always been to provide superior product support for our customers," said Leonard Ellis, CREG co-founder. "Now, that vision comes into play more than ever, bringing more value to customer businesses."

Among the specific value-added benefits that the acquisition means for Sage and CREG customers are more distribution locations. Sage operates GSE parts warehouses at its Farmingdale headquarters and at New York's two largest airports (JFK and LGA), and also at several other airports located in key markets throughout North America, including Los Angeles (LAX), Washington, D.C. (IAD), Chicago (ORD), Miami (MIA), Denver (DEN), Dallas (DFW), St. Louis (STL) and Puerto Rico (SJU). CREG has warehouses in Castroville, California, and in Miami, Florida. Another benefit is a larger selection of GSE parts for on-demand delivery. The acquisition combines Sage's $10 million+ inventory with CREG's $3 million+ inventory.

Still other advantages for Sage and CREG customers is the fact that all parts are cataloged in computer databases, which means that any part can be cross-referenced instantly, and each part can be made available for shipment from the nearest warehouse within moments of a customer's request. Furthermore, Sage has also implemented the "eSage" interactive e-commerce site – a complete online GSE replacement parts solution that can be accessed using a standard web browser. With "eSage," customers can search parts by number, view photos, and descriptions of parts, place orders, check order status, and many other functions. The eSage system is linked directly to Sage's entire network of warehouse facilities, helping to further speed order processing.

"CREG International's exceptionally talented people will be valuable additions to Sage Parts and to the GSE industry on a whole, providing comprehensive knowledge of virtually every kind of replacement part," continued Mr. Pollack. "At the same time, CREG's operational assets, particularly its warehouse locations and its people, will assist Sage in broadening its reach to better serve the GSE marketplace... especially in the western and southeastern United States, and in Latin America."

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