TAK and Petroleum Trends International form a Powerful Global Alliance to take the Leadership Position in Driving Growth in the Downstream Petroleum Business

 HUDSON, OH May 30, 2002 – The TAK Group (TAK), a leading eBusiness consulting and Internet technology software company and Petroleum Trends International, Inc. (PTI), a recognized thought-leader and business consultancy in the petroleum industry, announced today their forming of a significant and comprehensive alliance to provide business consulting and technology solutions to the downstream market under the newly formed TAK Petroleum Consulting Division.

 The mission of the alliance is to provide high-value business and market research and consulting services to global oil companies, mid-sized petroleum product manufacturers and marketers, additive manufacturers and other stakeholders in the downstream petroleum business.  The alliance will be managed directly by Thomas F. Glenn, President of PTI, and according to Glenn, “it is an excellent fit of two highly synergist companies in mission and management.”  

Specific to the mission, Glenn notes, ”Sharing my nearly 25 years of experience in the lubricant and fuels industry to help companies grow is my absolute passion.” And Glenn feels this experience, passion and the tremendous resources and capabilities of the TAK Group “are well aligned and create an alliance that will deliver unprecedented value to our clients.”

The immediate focus of the alliance is to assist clients develop and optimize strategies and tactics to pursue broad or niche opportunities in the lubricants business.  From there, Glenn notes, “we will remain available to our clients to assist them in the change management or technology advancements as required to execute the strategies and tactics.”  According to Glenn, the TAK/PTI alliance “is not about charging high fees to deliver lofty advice and leave.” Instead, Glenn notes, “The alliance will work collaboratively and in partnership with our clients to develop actionable plans, and technology as required, that deliver result to our client’s bottom line.” 

James K. O’Rourke, President and COO TAK added, “This is a natural fit for us in terms of the alliance presenting the exact capabilities that clients want.  We already have a strong presence in the petroleum industry because we are all about meeting customers’ needs.  When an opportunity comes along to partner with a firm like PTI and the knowledge base of a Tom Glenn, it is a very quick decision.  Its very exciting for us to be first to market with the kind of focused Business, eBusiness and Information Technology services we now offer in the marketplace.”

 With offices in the East (Connecticut), Mid-West (Cleveland) and West (Portland), the new Division is poised to handle regional customers as well as global entities.  For more information contact Thomas Glenn at 732-494-0405 or Jack Tooke, Director of Marketing at 330-342-9027.

 More about The TAKGroup

The TAK Group is a complete Technology, Service and Support company deploying it solutions to suppliers, distributors, customers and service providers in heavy industrial markets.  The company has a strong presence in the Downstream Petroleum industry.  Additional information is available at www.thetakgroup.com

More about Petroleum Trends International, Inc.

Petroleum Trends International, Inc. is an independent strategic planning and market research consulting firm based in Metuchen, New Jersey. The firm specializes in market, marketing, and manufacturing issues related to lubricants and fuels.  Its custom consulting, market research and financial services enable clients to increase sales and grow by identifying business opportunities and emerging market trends, and to achieve operational excellence and reduce costs through benchmarking and best practices. PTI specializes in lubricant and fuel issues related to market size and segmentation, new business development, manufacturing economics, competitive forces, customer intelligence, strategic and tactical issues, and benchmarking.  Additional information is available at www.petrotrends.com

 For more information, contact:

The TAKGROUP

(503) 274-6202

geri.carlson@thetakgroup.com