LEXINGTON, Ky., March 29, 2011 /PRNewswire/ -- In conjunction with its 20-year anniversary, Lexmark International, Inc. (NYSE: LXK) today announced an education initiative to promote math and science achievement in several local communities where Lexmark operates. The nearly $1.7 million in planned investments* will advance science, technology, engineering and mathematics (STEM) education.
The company's corporate philanthropic focus is on education, with a specific emphasis on science, technology, engineering and math – the foundational studies that technology and engineering-based companies like Lexmark are built upon.
This morning at a Community Day event at its corporate headquarters, Lexmark informed local community leaders that it plans to contribute up to $1 million to the University of Kentucky (UK) to support STEM efforts in the Commonwealth. The funds will be used to renovate and equip UK's STEM outreach center for P-20 (pre-school through graduate studies) math and science educators and students.
Lexmark also plans to contribute up to $300,000 to Fayette County Public Schools in Lexington, Ky., to fund the purchase of laboratory equipment for its 12 middle schools, a critical need to support STEM resources at this educational level.
Also announced as part of Lexmark's investment:
- A $250,000 planned endowment to the University of Colorado, establishing a scholarship fund for students in the College of Engineering & Applied Science. The scholarship recognizes Paul J. Curlander, Lexmark's executive chairman and chairman of the board of directors, for his many years of service to Lexmark.
- A $100,000 planned donation to a local magnet high school in Cebu, Philippines, to create the Lexmark Science and eResearch Lab, which will focus on technology research and education.
- A teacher recognition program to highlight and reward outstanding science, technology and math teachers. Lexmark will model its program after a successful Perceptive Software recognition program in Kansas, and extend it to Kentucky, Colorado and the Philippines. Selected teachers will receive a $1,000 cash award to further math and science education in their classrooms.
"Whether it's through volunteer hours, monetary contributions or in-kind donations, we believe it's imperative to give back to the communities that have long shown their support to Lexmark," said Paul Rooke, Lexmark president and chief executive officer. "Not only are we committed to recognizing educators and enriching the lives of students in the areas of STEM, we are focused on building the pipeline of future engineers and innovators that enable companies like Lexmark to succeed in today's competitive and fast-moving technology marketplace."
"Lexmark and the University of Kentucky share a commitment to education in science, technology, engineering and math," said UK President Lee T. Todd Jr. "This generous gift will help to ensure our ongoing support of educational excellence at all levels for these important disciplines that fuel innovation and a brighter future for the Commonwealth."
"The renovated building will house a training facility to provide professional development to Kentucky science and math teachers, a new lab for fieldwork-based ecology education, and a shared meeting room for community outreach," said UK Provost Kumble Subbaswamy. "Our math and science outreach operations will benefit from much-needed storage and work space, as well as a large area to assemble the educational materials that help science teachers encourage inquiry-based learning among Kentucky students."
"Lexmark has been a great corporate citizen for this community for many years, and this is one more example of their outstanding support for education," said Fayette County Schools Superintendent Stu Silberman. "This gift will enhance our middle school science programs and help to further engage our students in the STEM areas. On behalf of our kids, we are extremely thankful."
Please click here to learn more about Lexmark's community involvement over the past 20 years.
Lexmark International, Inc. (NYSE: LXK) provides businesses of all sizes with a broad range of printing and imaging products, software, solutions and services that help customers to print less and save more. Perceptive Software, a stand-alone software business within Lexmark, is a leading provider of enterprise content management software that helps organizations easily manage the entire lifecycle of their documents and content, simplifying their business processes, and fueling greater operational efficiency. In 2010, Lexmark sold products in more than 170 countries and reported more than $4 billion in revenue.
*All potential contributions are subject to reaching an agreement on the terms and final use of such contributions.
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SOURCE Lexmark International, Inc.