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Company Press Release
SciQuest.com and The Dow Chemical Sign Exclusive E-Commerce Agreement for Purchase of Laboratory Products and Supplies
SciQuest.com E-Marketplace to Streamline Dow Procurement Process
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Dec. 20, 1999-- SciQuest.com(TM) (Nasdaq: SQST - news), a leading business-to-business e-marketplace for the global scientific products industry, today announced it has entered into a multi-year, e-commerce purchasing agreement with The Dow Chemical Company (NYSE: DOW - news).
Dow's procurement of laboratory scientific products and supplies over the Internet will be transacted exclusively through SciQuest.com.
''The Dow Chemical Company is one of the most respected names in the scientific industry and we are privileged to be working with them as their e-commerce partner for purchasing laboratory supplies,'' said Scott Andrews, CEO of SciQuest.com. ''SciQuest.com offers Dow a level of industry expertise unmatched by any other scientific products e-marketplace. Due to our exclusive relationships with leading industry suppliers our Web site offers Dow scientists the ability to purchase, on-line, critical research products that impact their work.''
SciQuest.com's e-marketplace ( sciquest.com ) will provide researchers and purchasing agents at Dow with access to information on almost one million scientific products. Users will be able to search multiple suppliers' products simultaneously, compare product attributes, order from multiple companies on one consolidated order form and track order status.
''SciQuest.com offers Dow the opportunity to deal with over 8,000 suppliers globally at any given time,'' says Gary Veurink, Dow's VP of Global Purchasing. ''Aggregating our purchasing power allows us to buy at a better price and offers procurement system advantages. Most important, the strategic alignment is intended to help Dow scientists work more efficiently.
SciQuest.com's 'One-Stop-Shopping' concept allows scientists to quickly locate and purchase unique items they need in their daily work. With this capability, our expectation is that Dow scientists and researchers will be able to better use their time toward value creating activities, such as the development of new products and solutions.''
SciQuest.com e-marketplace is designed to be compatible with leading enterprise software systems and does not require organizations, such as The Dow Chemical Company, to install additional enterprise software systems. This compatibility allows buyers and suppliers to avoid the expense, time and training typically required to install and support new enterprise software.
About The Dow Chemical Company
The Dow Chemical Company is a global science and technology based company that develops and manufactures a portfolio of chemical, plastic and agricultural products and services for customers in 168 countries around the world. With annual sales of more than $18 billion, Dow conducts its operations through 15 global businesses employing 39,000 people. The company has 123 manufacturing sites in 32 countries and supplies more than 3,500 products.
About SciQuest.com
SciQuest.com is a leading business to business e-marketplace for scientific products used by pharmaceutical, chemical, biotechnology, industrial and educational organizations worldwide. By leveraging its extensive laboratory products and supply chain management expertise with its exclusive product listings and robust portfolio of e-procurement solutions, SciQuest.com has the ability to reduce customers' procurement costs and increase researchers' productivity. Additionally, SciQuest.com provides suppliers a cost-effective sales and marketing channel. The company's e-marketplace is distributor-neutral and can be customized and seamlessly integrated with its customers' enterprise systems. SciQuest.com is headquartered in Research Triangle Park, N.C. with offices in Mountain View, Calif., and Plainview, N.Y.
Statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties. For such statements, the Company claims the protection of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. The potential risks and uncertainties associated with these forward-looking statements could cause actual results to differ materially from those presented herein, and the reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include, among others, the possible consequences of government regulation, the Company's ability to attract and retain a broad range of purchasers and suppliers, to effectively add additional products to its e-commerce database and to otherwise operate efficiently and cost effectively. These and other risk factors are discussed in the Company's Registration Statement on Form S-1, declared effective by the Securities and Exchange Commission on November 19, 1999.
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Contact:
SciQuest.com, Research Triangle Park
RLM
Anita Bose, 212/484-7699
abose@rlmnet.com
or
Cunnington Communication, Inc.
Desiree Russell, 919/851-8090
drussell@ccipr.com
or
Dow Chemical Company
Peter Paul van de Wijs, 517/638-4914
pvandewijs@dow.com
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