Owens Corning Saves Nearly 10% on Strategic Purchases Using the
FreeMarkets(R) Online Auction Marketplace
World Leader in Building Materials and Composite Systems Saves Millions on Purchased Goods and Services
PITTSBURGH, March 1 /PRNewswire/ -- Owens Corning (NYSE: OWC - news), a world leader in building materials systems and composites systems,
today announced savings averaging 10% on strategic purchases conducted through the FreeMarkets online auction marketplace. Owens Corning has been a
client of FreeMarkets, Inc. (Nasdaq: FMKT - news), the world's leading online auction marketplace, since 1999. Using the FreeMarkets online auction
marketplace, Owens Corning has saved millions on the purchase of goods and services including transportation, steel, loose fill and bulk bags, construction
materials and services, and control panels.
``The FreeMarkets online auction marketplace has been highly successful and applicable to a wide range of our strategic goods and services purchases,' said
Chuck Dana, vice president of global sourcing, Owens Corning. ``FreeMarkets' market making and bid technology have enabled us to achieve significant
savings on materials used in our products and supporting services, including construction. FreeMarkets has been integral to our continuing innovation in
strategic purchasing.'
``Owens Corning is a leader in the use of e-commerce for strategic purchasing and a prime example of how the FreeMarkets online auction marketplace is
often initially used for custom products, then successfully applied across a range of corporate spend categories. The end result is tremendous savings and the
creation of competitive markets for custom parts and more standard services,' said Glen Meakem, chairman and CEO of FreeMarkets. |
