Recording

PRG Announces Company Restructuring, Staff Promotions

Production Resource Group (PRG) announced that it is consolidating equipment in three major offices that will effectively become the depots in a "hub 12/30/2003 7:00 AM Eastern

Production Resource Group (PRG) announced that it is consolidating equipment in three major offices that will effectively become the depots in a "hub and spoke" inventory-management system. Inventory for larger events will be maintained, prepared and shipped from the company's depots. PRG's smaller offices will continue to maintain inventory to support most local events, but will receive temporary shipments of equipment from the depots as needed to support larger events.

According to Kevin Baxley, PRG's COO, "Concentrating our assets in regional depots will help us standardize both equipment maintenance and preparation efforts. Using the depots, we can ensure that the best practices in the industry are utilized in preparing our equipment for delivery to our clients. The depots will also enable us to maintain greater control over the types of equipment our clients request the most. Concentrating those items in the depots, rather than leaving them spread out in small numbers among many offices, will ensure greater client access to them in large numbers when needed."

PRG's New Jersey, Orlando and Las Vegas offices will serve as the company's regional equipment depots. Other PRG offices will continue to maintain local inventories but will draw on the extensive additional stock in the depots when needed. Portions of the inventory at PRG's Atlanta location have recently been transferred to PRG's Orlando depot, and the inventory at PRG's Newbury Park (N.J.) location has been consolidated with the company's inventories in Las Vegas and Burbank, Calif. PRG's sales and account management teams in Atlanta and Newbury Park will not be affected by these changes.

PRG will be able to manage its inventory via TEAM, a proprietary asset-management software developed internally by the company. TEAM enables PRG's asset managers to instantaneously locate any item in PRG's $250 million inventory of rental equipment and quickly route it to where it is most needed.

As part of the restructuring, several staff promotions were announced. Bill Campbell, formerly the general manager of PRG's lighting operation in Atlanta, will become general manager of PRG's lighting operation in Las Vegas. Cathy Gilligan, formerly the asset manager for the Atlanta office, will become the asset manager for the Las Vegas office. Erin Byrnes, formerly the asset manager in Las Vegas, will assume a national asset-management responsibility at PRG. David Patton, formerly general manager of PRG's Las Vegas lighting operation, will become the company's national director of lighting operations.

For more information on PRG, visit www.prg.com.

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