FDX Corp., Parent of FedEx, Makes Strategic Investment in Trade Compass, Inc., and Licenses Trade Compass Services for FDX Intranet
WASHINGTON--(BUSINESS WIRE)--Dec. 8, 1999--Trade Compass (http://www.tradecompass.com/) the leading international trade process solutions and global business web site, today announced that FDX Corp. (NYSE: FDX - news), parent of Federal Express Corp. (FedEx) and RPS, Inc. (RPS) has made an equity investment in and licensing agreement with Trade Compass, Inc.
David J. Roussain, FedEx Vice President, Electronic Commerce Marketing, and Gerald P. Leary, FedEx Vice President, Global Trade Services, have become members of the Trade Compass Board of Directors.
''Trade Compass is at the forefront in providing e-commerce solutions for international transactions conducted over the World Wide Web,'' stated Roussain. ''This alliance underscores FDX's leadership in developing solutions to facilitate global trade.''
''The FDX decision to invest in Trade Compass has created a great deal of enthusiasm in our organization,'' commented Browning Rockwell, President and CEO, Trade Compass. ''Trade Compass is the ''best-of-breed'' provider of online international trade process solutions, a sector of significant strategic interest to FDX Corp.''
Trade Compass plans to use the FDX investment for overall operations as well as to fund operational growth and expansion. ''We view this investment and the addition of David Roussain and Gerald Leary to our Board as strategic and very important to our future,'' added Rockwell. ''The stature of FDX and its presence in the market is unmatched in the industry. Trade Compass is proud to be associated with this caliber of company.''
In addition to the FDX investment in Trade Compass, Inc., FDX has also licensed Trade Compass' online tools and services for use by FDX employees via the FDX corporate intranet.
These tools and services include Stat-USA®Plus, an essential trade information service, the Trade Acronym Expander, HS Code Classifier, the Trade Compass Daily Brief and the monthly Gateway E-Zine that provide valuable information on the latest events affecting global trade.
FDX Corp., a $17 billion holding company, provides comprehensive transportation, logistics, e-commerce and supply chain management solutions.
Its principal operating subsidiaries are Federal Express Corp., the world's largest express transportation company; RPS Inc., North America's second largest business-to-business ground small-package carrier; Viking Freight Inc., a less-than-truckload carrier operating principally in the western U.S.; Roberts Express Inc., a critical-shipment carrier; and FDX Logistics Inc., a contract logistics provider.
Trade Compass, founded in 1994, is the leading online source for international trade process solutions. Trade Compass provides its worldwide users and customers with more than 50 gigabytes of constantly changing global trade information, resources and business tools that are easy-to-use, comprehensive and up-to-date.
Trade Compass was selected by Business Marketing as a NetMarketing 200 company for 1999. Trade Compass is also the back-to-back winner of the prestigious CIO Communications Web Business 50/50 Award in 1997 and 1998 as one of the top 50 Internet sites. Company information is available at www2.tradecompass.com.
For more information please contact: Trade Compass, Inc. George Atkinson, Vice President, Business Development & Strategy 1510 H. Street NW, Suite 500 Washington, DC 20005 USA Tel: 202/783-4455 Fax: 202/783-4465 E-mail: gatkinson@tradecompass.com tradecompass.com ''Gateway to International Commerce''
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Contact:
Trade Compass, Inc., Washington
George Atkinson, Vice President
Business Development & Strategy
202/783-4455
Fax: 202/783-4465
E-mail: gatkinson@tradecompass.com
tradecompass.com |
