March 17, 2005
BOSTON, March 17, 2005 – New Balance Athletic Shoe, Inc. announced today that an internal fund-raising challenge drive for Tsunami relief has raised more than $200,000 and secured participation by New Balance associates and business partners worldwide. As a result, New Balance will match the funds raised to donate a total of $400,000 to Oxfam America to enable rebuilding in those regions in Asia affected by the Tsunami. The company will also make an additional contribution of approximately $2.8 million to various international relief organizations over the next three years.
"What makes this achievement so special is that it was not a business objective for the company," says Jim Davis, Chairman and CEO, New Balance. "It shows our capacity to work as a team to make New Balance successful and profitable, and more importantly, demonstrates our commitment to our company mission of social responsibility."
In addition to reaching and exceeding the internal fund-raising goal of $100,000 by nearly 100%, New Balance associates also developed creative ways to raise money for Tsunami relief.
-- Lawrence, MA Distribution Center associates crafted chocolate roses to sell for $1 each.
-- NB Mexico held a festive fundraising lunch where associates prepared and sold food
-- NB France sold used computer equipment to raise additional funds with 100% of the proceeds going to Tsunami relief
"We want to recognize our associates for their outpouring of support, compassion and generosity," says Anne Davis, Executive Vice President of Administration for New Balance. "We have never been more proud of a New Balance Family accomplishment than we are of achieving this humanitarian goal."
New Balance also coordinated product donations to World Vision for the relief effort.
New Balance, headquartered in Boston, MA, is a leading manufacturer of technologically innovative width-sized performance footwear and athletic apparel for women, men, and children. The range of product categories includes running, walking, cross training, basketball, tennis, adventure, and kids. Dunham joined the New Balance family in Fall 1998. Dunham an outdoor performance brand known for its technologies, innovations and development of footwear that is lightweight, comfortable and inspired by the world outside. New Balance acquired the rights to the PF Flyers brand in February 2000. First introduced in 1937 by the B.F. Goodrich Company, PF Flyers was re-launched in Spring 2003 as an authentic brand of active casual footwear. Aravon® comfort performance brand footwear debuted in January 2004 as an unsurpassed blend of fit, comfort, support and style. In early 2004, New Balance acquired Warrior Lacrosse, widely recognized as the world's most cutting edge manufacturer of lacrosse equipment, after introducing the Warrior Burn by New Balance lacrosse shoe. New Balance Athletic Shoe, Inc. employs more than 2,600 people around the globe, and in 2004 reported worldwide sales of $1.5 billion. For more information please visit http://www.newbalance.com.
