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Iron Mountain Continues Secure Shredding Expansion With Midwest Acquisition
September 24, 2003
Boston, MA - Iron Mountain Incorporated (NYSE: IRM), the leader in outsourced records and information management services, today announced the expansion of its Secure Shredding services with the acquisition earlier this month of the assets of Shred All LLC.Terms of the deal were not disclosed.
This most recent acquisition enables Iron Mountain to offer secure shredding services to customers in seven midwestern states including five new markets.Iron Mountain has actively expanded its Secure Shredding footprint through a combination of acquisitions and start-up operations throughout North America.
Shred All, based in Des Moines, IA, operates in Omaha, NE, Sioux Falls, SD, Quad Cities and Des Moines, IA. East of the Mississippi River, Shred All operates as Shred Express serving Bloomington, IL, Indianapolis, IN and parts of Kentucky.Both businesses provide on-site and off-site Secure Shredding services in each market.
“Secure Shredding is a critical component of records management for any business that needs to protect the privacy and security of information – particularly sensitive customer or patient records,” said Richard Reese, chairman and CEO of Iron Mountain. “With a deluge of privacy laws, from HIPAA to Graham-Leach-Bliley and others, businesses can’t afford non-compliance. We’ve made it a priority to expand our Secure Shredding footprint and meet our customers’ demand for these services.”
Iron Mountain is also pleased to announce that key senior managers Douglas Nord, Jim Aschoff, and Dave Aschoff will join the Company from Shred All in various sales and management capacities. Their industry knowledge and leadership will further strengthen the Iron Mountain management team.Douglas Nord is currently the President of the National Association for Information Destruction (NAID), the leading professional trade association for the shredding industry.
“We are very excited to have Shred All and Shred Express join with Iron Mountain,” said Douglas Nord, a newly appointed vice president of Iron Mountain Secure Shredding.“I am confident that our customers and employees will benefit greatly from the expanded services and opportunities this partnership offers. We are looking forward to working with our new colleagues here at Iron Mountain and enhancing the industry leadership they have established.”
Businesses are under increased pressure to adopt proper document shredding as part of responsible, policy-based records management programs.First and foremost, businesses and healthcare organizations need to maintain compliancy with an increasing wave of privacy laws.These new regulations require the proper destruction of documents including medical records, credit information, and personnel records, among others, to ensure the privacy rights of customers, employees and patients. When implemented as part of a policy-based document retention schedule, shredding can also safeguard proprietary data such as contracts, customer lists and financial records – information businesses need to protect in order to stay competitive.
More than 20,000 customers depend on Iron Mountain to shred their most confidential data.In addition to providing certified document shredding services, Iron Mountain helps customers develop and implement record retention policies.
Contact:
Melissa Mahoney
Corporate Communications
Iron Mountain
Phone: 617-535-8310
melissa.mahoney@ironmountain.com
Stephen Golden
Investor Relations
Iron Mountain
Phone: 617-535-4799
sgolden@ironmountain.com
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