FMKT news...
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Thursday June 8, 8:00 am Eastern Time
SOURCE: FreeMarkets, Inc.
FreeMarkets and Xelus Form Strategic Alliance to Deliver Web-Based B2B eMarketplace and Decision Support Solutions
Companies Offer Comprehensive eBusiness Solutions to Global 1000 Organizations In Service Industries
PITTSBURGH, and ROCHESTER, N.Y., June 8 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT - news), the original and world's leading B2B eMarketplace, and Xelus, Inc. (formerly LPA, Inc.), the leading provider of inventory planning, forecasting, optimization and e-commerce solutions for service industries, announced today that they have formed a strategic alliance to deliver web-based B2B e-trading communities and decision support solutions to Global 1000 organizations.
Under the terms of the alliance, FreeMarkets and Xelus will provide Global 1000 organizations in industries including aerospace, telecommunications, high technology and utilities with access to the FreeMarkets© B2B eMarketplace and Xelus's money-saving supply chain optimization and planning for service inventory.
The FreeMarkets B2B eMarketplace has driven over $5.4 billion in commerce to date and includes industry-leading online auction technology, technical operations, industrial market making services, access to a global database of suppliers and supplier research, and call center support to buyers and suppliers in over 30 languages. Xelus's offerings combine sophisticated planning and forecasting capabilities with e-Business functionality to create multi-tiered e-trading communities that facilitate collaborative commerce in selected verticals.
Through the alliance, customers can enhance the efficiency of the procurement process and increase potential savings by combining the FreeMarkets and Xelus solutions. Customers using the FreeMarkets B2B eMarketplace, for example, will be able to use the FreeMarkets Desktop, the industry's only web-based technology sourcing platform for industrial buyers, to prepare for bidding events and integrate Xelus's decision support solutions for materials purchasing and re-order.
``Xelus has a leading optimization solution for the service industry, with applications controlling over $50 billion worth of yearly service parts purchases at Fortune 500 companies worldwide and FreeMarkets' customers have conducted over $5.4 billion worth of purchases through our B2B eMarketplace,'' said Scott Grimes, vice president of business development for FreeMarkets. ``Together, we can provide additional value to Global 1000 organizations by offering a combined solution that increases sourcing efficiency and saves money.''
``Our partnership with FreeMarkets will enable Xelus to implement online sourcing solutions that will have immediate and long-term impact on our clients,'' said Rudy George, vice president of alliances. ``Our distinctive expertise in aviation, telecommunications, high-tech and utilities complement the FreeMarkets B2B eMarketplace, providing one-of-a-kind optimized supply chain solutions for the service industry.''
About Xelus
Xelus, Inc., a privately held company headquartered in Rochester, NY, is the market leader in providing inventory planning, forecasting, optimization and e-commerce solutions for service, maintenance, repair and overhaul operations to Global 1000 organizations in the aviation, telecommunications, high-tech, rail, and utilities industries. Xelus' software solutions combine sophisticated planning and forecasting capabilities with e-Business functionality to create multi-tiered e-trading communities that facilitate collaborative commerce in selected verticals. Xelus offers unsurpassed service optimization that helps enterprises achieve dramatic new levels of efficiency, improved ROI, increased customer satisfaction, enlarged market share, and enhanced global market opportunities. Xelus maintains offices throughout the United States and Europe. For more information visit www.xelus.com.
About FreeMarkets
FreeMarkets is the original and world's leading B2B eMarketplace, with online markets for industrial parts, raw materials, commodities and services. The Company has executed online auctions for over $5.4 billion of purchase orders to date, and created potential estimated savings of more than $1 billion for its customers. Since 1995, FreeMarkets has created online auctions for products in more than 100 supply verticals, including injection molded plastic parts, commercial machinings, metal fabrications, chemicals, printed circuit boards, corrugated packaging and coal. More than 4,000 suppliers from over 50 countries have participated in the FreeMarkets B2B eMarketplace. FreeMarkets is the only B2B eMarketplace that includes industry-leading online auction technology, technical operations, industrial market making services, access to a global database of suppliers and supplier research, call center support to buyers and suppliers in over 30 languages, and marketplace rules. The Company's current customers include Visteon Corporation, United Technologies Corporation, The Quaker Oats Company, Owens Corning, Eaton Corporation, Emerson Electric Company, FirstEnergy Corp., SmithKline Beecham plc, Navistar International and Delphi Automotive Systems Corporation. FreeMarkets can be found on the Web at www.freemarkets.com. FreeMarkets is a registered trademark of FreeMarkets, Inc. |
