Press Release
Commerce One/SAPMarkets Named Preferred
Technology Vendor for Global Mining and Metals
Procurement Marketplace
LOS ANGELES--(BUSINESS WIRE)--August 13, 2000--The global mining and metals
procurement marketplace today announced the selection of Commerce One/SAPMarkets
as the preferred technology provider to the new e-commerce marketplace, subject to the shareholder approval of a definitive
agreement. Development of the technology solutions will commence as soon as definitive agreements are in place. The mining,
metals and minerals marketplace is expected to begin processing transactions during the fourth quarter of 2000.
Tracy A. Stevenson, Interim CEO of the marketplace, said, ``We have conducted a very comprehensive evaluation process
with the leading technology suppliers, all of whom have demonstrated excellent capability and we were extremely pleased with
their efforts. Commerce One/SAPMarkets has best demonstrated its capability and commitment to providing the advanced
technology solutions that will transform the procurement processes of buyers and sellers throughout the global mining, metals
and minerals industry. I am confident we will finalize a formal agreement within the next two weeks.''
``These visionary companies have recognized the dramatic positive impact e-commerce can have on the metal and mining
industries, and we're pleased Commerce One & SAPMarkets are part of their effort,'' said Mark Hoffman, chairman and CEO
of Commerce One. ``We're looking forward to working with SAPMarkets to help these 16 corporations move their industry
onto the Internet, adding a major new e-marketplace to the Commerce One Global Trading Web, the world's largest
business-to-business trading community.''
``SAPMarkets & Commerce One bring together their industry leading capabilities to provide an unrivaled marketplace solution
for leading global industries, as exemplified by the joint solution we will put in place with the premier companies in the mining
and metals industries,'' said Mayur Shah, president of SAPMarkets, Inc., ``We are placing the full commitment of SAPMarkets
& Commerce One behind the success of this major global marketplace.'' |
