News

TRM inks deal with Cumberland Farms

February 21, 2002

PORTLAND, Ore. -- TRM Corporation has signed a five-year contract with Cumberland Farms, Inc. to place ATMs at nearly 400 Cumberland Farms store locations on the East Coast. The total value of the agreement is expected to reach $15 million over the next five years.

TRM recently launched a subsidiary, iATMglobal.net, headquartered in San Francisco, which will develop a distribution channel transforming existing ATMs into iATMs capable of delivering e-commerce goods and services.

"Adding the Cumberland Farm locations to our backlog, the number of future TRM ATM installations is raised to over 1,000. We are building our ATM installation base so that we will be able to convert our PC-based ATMs to iATMs," said Fred Stockton, TRM's CEO. "With an iATM we will be able to offer the merchant and the customer a wide range of
network-based transactions -- everything from concert tickets to stamps."

Al McKay, Cumberland Farms' vice president of retail marketing, said the company was pleased with TRM's "very high level of quality control standards," based on their existing relationship as a TRM CopyCenter™ customer. "It followed that we would choose them to deliver our ATM service. We have every reason to believe they will do just as great a job for us," he said.

Cumberland Farms, Inc., based in Canton, Mass., operates over 700 retail stores in states along the eastern seaboard.