Press Release

PROJECT N95 SELECTS MODUSLINK AS SUPPLY CHAIN MANAGEMENT
LOGISTICS AND E-COMMERCE PARTNER

MEDIA CONTACTS:

Kelley DeVincentis/Erika Cassidy
Southard Communications
Kelley@Southardinc.com
Erika@Southardinc.com
212-777-2220

 

PROJECT N95 SELECTS MODUSLINK AS SUPPLY CHAIN MANAGEMENT
LOGISTICS AND E-COMMERCE PARTNER,

Smyrna, TN (April 29, 2021) — ModusLink Corporation, a leading global supply chain management services company, announced it has entered a strategic business partnership with Project N95, a 501(c)(3) non-profit that has served as a trusted source for vetted personal protective equipment (PPE) since the beginning of the pandemic. ModusLink is managing product fulfillment on behalf of Project N95, which is particularly important given the global impact of the pandemic and continuing need for testing and the timely distribution of PPE.
“The pandemic continues to set considerable shipping limitations on a global grand scale and has certainly impacted COVID testing and PPE supplies,” notes Fawaz Khalil, President and CEO of ModusLink. “Despite these challenges, we were able to quickly respond and work with Project N95 to deliver a speedy and effective supply chain that delivers these critically important products in a timely fashion. We are proud to be able to do our part in helping the healthcare community and individuals around the world dealing with this pandemic.”
ModusLink has expertise in packaging, kitting, assembly, fulfillment, digital commerce, and reverse logistics. The company has a global footprint spanning across the Americas, Europe, and the Asia-Pacific region. ModusLink uses an adaptive approach to distributive fulfillment services, which helps companies drive growth, lower costs, and improve efficiency. ModusLink is a wholly owned subsidiary of Steel Connect (NASDAQ: STCN).
“Since launching in March 2020 as a COVID-19 rapid response organization, Project N95 has continued to respond to changing healthcare and market needs. When we decided to offer COVID-19 diagnostic tests, we knew we would need a partner who could help us continue to honor our commitment to deliver critical supplies as quickly as possible,” said Geoff Bonn, chief financial officer. “We came to ModusLink with a business need that was not easily met, and they made it happen.”
Project N95 is the National Clearinghouse for personal protective equipment and COVID-19 tests. The non-profit protects communities and the people who live and work in them by providing equitable access to the resources they need to stay safe through the COVID-19 pandemic.

“Diagnostic testing is a critical part of managing and ending the pandemic,” explained Anne Miller, executive director of Project N95. “As a non-profit 501(c)(3) organization we serve as a trusted and transparent resource in a sometimes complex and chaotic marketplace. We realized adding easy access to vetted COVID-19 tests and test kits along with information about how to select tests was the next step in executing on our mission.”

“Our excellent, long-standing reputation with all of our suppliers is one of the reasons why Project N95 came to us in the first place,” added John Perry, Vice President of Sales for ModusLink. “Project N95 needed a flexible partner who could quickly react and pivot during these uncertain times, this would then allow them to continue to focus on protecting and caring for front line workers throughout the pandemic. We were able to deliver.”

About Steel Connect and ModusLink
Steel Connect, Inc. is a diversified holding company with two wholly owned subsidiaries, ModusLink Corporation and IWCO Direct, that have market-leading positions in supply chain management and direct marketing.
ModusLink Corporation provides supply chain business management services to many of the world’s great brands across a diverse range of industries, including consumer electronics, telecommunications, computing and storage, software and content, consumer packaged goods, medical devices, retail, and luxury goods. With experience and expertise in packaging, kitting and assembly, fulfillment, digital commerce, reverse logistics, as well as a global footprint spanning the Americas, Europe, and the Asia-Pacific region, the Company’s adaptive approach to supply chain services helps to drive growth, lower costs, and improve profitability.

About Project N95
Project N95 protects healthcare and essential workers, as well as underserved and vulnerable communities, by providing equitable access as quickly as possible to vetted personal protective equipment (PPE) and COVID-19 diagnostic tests. As a leading rapid response non-profit 501(c)(3) organization created in response to the COVID-19 pandemic, Project N95 has become the National Clearinghouse for critical PPE and diagnostic tests. Visit www.projectn95.org to learn more or to volunteer.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are not historical facts are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including without limitation, those with respect to the Company’s goals, plans, expectations, and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: client or program losses; fluctuations in demand for our products and services; general economic conditions and public health crises (such as the ongoing coronavirus outbreak); demand variability with clients to which the Company sells on a purchase order basis rather than pursuant to contracts with minimum purchase requirements; risks inherent with conducting international operations; the Company’s ability to execute on its business strategy and to achieve anticipated synergies and benefits from business acquisitions, including any cost reduction plans and the continued and increased demand for and market acceptance of its services, which could negatively affect the Company’s ability to meet its revenue, operating income and cost savings targets, maintain and improve its cash position, expand its operations and revenue, lower its costs, improve its gross margins, reach and sustain profitability, reach its long-term objectives and operate optimally; increased competition and technological changes in the markets in which the Company competes; failure to realize expected benefits of restructuring and cost-cutting actions; difficulties integrating technologies, operations and personnel in accordance with the Company’s business strategy; loss of essential employees or an inability to recruit and retain personnel; the Company’s ability to preserve and monetize its net operating losses; failure to settle disputes and litigation on terms favorable to the Company; the Company’s ability to repay indebtedness and potential adverse effects from the phase-out of LIBOR; and the Company’s ability to negotiate and consummate the proposed transaction with Steel Holdings. For a detailed discussion of cautionary statements and risks that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the SEC, including, but not limited to, the risk factors in the Company’s Annual Report on Form 10-K filed with the SEC on September 30, 2020. These filings are available on the Company’s Investor Relations website under the “SEC Filings” tab.
All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

 

About Steel Connect and ModusLink

Steel Connect, Inc. is a diversified holding company with two wholly owned subsidiaries, ModusLink Corporation and IWCO Direct, that have market-leading positions in supply chain management and direct marketing.

ModusLink Corporation provides supply chain business management services to many of the world’s great brands across a diverse range of industries, including consumer electronics, telecommunications, computing and storage, software and content, consumer packaged goods, medical devices, retail, and luxury goods. With experience and expertise in packaging, kitting and assembly, fulfillment, digital commerce, reverse logistics, as well as a global footprint spanning the Americas, Europe, and the Asia-Pacific region, the Company’s adaptive approach to supply chain services helps to drive growth, lower costs, and improve profitability.