CMRC just keeps signing these deals. amazing.
Mitsubishi Corporation and Commerce One to Establish E-Marketplace for the Gas, Chemical and Utilities Industries in Japan
TOKYO & PLEASANTON, Calif.--(BUSINESS WIRE)--Oct. 5, 2000--Mitsubishi Corporation and Commerce One, Inc. (Nasdaq:CMRC), the leader in global e-commerce solutions for business, have announced an agreement to establish an e-marketplace that will target business-to-business (B2B) e-commerce among Japanese companies in the gas, chemical and utilities industries. This market is expected to generate transactions worth billions of dollars in the coming years. Commerce One will be the technology provider for Mitsubishi's e-marketplace solution.
Tokyo-based international business leader, Mitsubishi Corp., joins several other global corporations as they move towards executing B2B transactions on the Internet. As a Commerce One partner, Mitsubishi Corp. will also become a member of the Global Trading Web(TM) (GTW), the world's largest B2B trading community.
"Unlike the US where there is a great deal of interest in e-marketplaces, Japan has not seen a huge uptake in e-business," said Hajime Kimura, chief operating officer, eCommerce Division of Mitsubishi Corporation. "Mitsubishi is among the early adopters in Japan, taking the lead using Commerce One's solutions. We intend to create a robust platform for electronic B2B that will provide access to global buyers and sellers in key vertical markets."
The Mitsubishi MarketSite will provide businesses with real-time buying and selling capabilities. It is expected that buyers will gain access to a vast network of suppliers and realize lower purchasing costs, while sellers will maximize returns from an extended buying community.
In a related move that highlights its commitment to the Commerce One partnership, Mitsubishi has established stronger links among its subsidiaries to support its e-commerce operations. These subsidiaries include: INTEC Communications, Inc., which provides network and systems integration; e-CubeNet.com, Inc. -- Application Service Provider for Web based EC/EDI services; DATA STATIONS, Inc., an ASP; Bewith, Inc., a CRM service provider; and Digital Direct Corporation, specialising in Internet/TV online shopping.
"Our vision is to provide value-added service by linking these businesses, enabling them to operate in a global e-marketplace," said Kimura.
Mitsubishi intends to link its multi-faceted and extensive brick-and-mortar business network to the e-marketplace, which will be powered by the Commerce One MarketSite Portal Solution.
"Our partners clearly see the potential of the e-marketplace," said Mark Hoffman, chairman and CEO of Commerce One. "We believe this agreement indicates the importance Mitsubishi places on leading Japan into this exciting arena and we look forward to working with them to automate businesses in these key verticals in Japan."
About Mitsubishi
Mitsubishi Corporation is one of the world's largest general trading enterprises. Based in Tokyo, the company's more than 7,000 professionals serve clients through a global network of more than 44 offices in Japan and 116 offices and subsidiaries overseas. Mitsubishi has a wealth of experience in bringing buyers and sellers together. Additional information on Mitsubishi Corporation is available at: mitsubishi.co.jp
About Commerce One
Commerce One, Inc. (Nasdaq:CMRC) is the leader in global e-commerce solutions for business. Through its products, portals, and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web(TM) is the world's largest business-to-business trading community. Comprised of many open e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers, and service providers worldwide. Ôhrough its "Dream Team" alliance with SAPMarkets, Commerce One enables enterprises and communities of all sizes and industries to efficiently conduct collaborative business on the Internet. Commerce One is located in Pleasanton, Calif., and can be reached by phone at 800/308-3838 or 925/520-6000 or via the Internet at www.commerceone.com.
Forward Looking Statements
The foregoing paragraphs include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning Commerce One's ability to provide e-marketplace solutions to Mitsubishi to establish an e-marketplace targeting B2B e-commerce in the gas, chemical and utilities industries, including the capabilities and anticipated benefits of such solutions. Actual results may differ materially from those described in such statements as a result of a number of factors. These factors include, but are not limited xo, the risk that the e-marketplace solutions offered may not meet user expectations, unexpected operational difficulties may arise, the cooperation of the parties, general economic conditions, fluctuations in operating results, intense and increasine competition in the market, and the extent of customer adoption and utilization of the solutions provided on Mitsubishi's e-marketplace. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 1999 and its quarterly report on Form 10-Q for the quarter ended June 30, 2000.
Note to Editors: Commerce One, Many Markets. One Source. Global Trading Web, BuySite, MarketSite, Global Trading Platform, Common Business Library, XML Developmevt Kit, XML Commerce Connector, MarketSite Builder, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. Enterprise Buyer and MarketSet are trademarks of Commerce One, Inc and SAPMarkets. All other company, product, and brand names are trademarks of their respective owners.
--30--lr/sf* dc/sf
CONTACT:
Commerce One
Grace Ma, 9108-9549
grace.ma@commerceone.com
Amy Martin, 650/934-8664
amy.martin@commerceone.com
or
The Horn Group, Inc. (for Commerce One)
Stephanie Cebulski, 415/905-4040
scebulski@horngroup.com |
