Wednesday November 17, 6:31 am Eastern Time
Company Press Release
3M Enters E-Business Agreement With VerticalNet
3M to Launch Multiple Online Business Centers for Its Health and Safety Customers
BERKELEY, Calif. & HORSHAM, Pa.--(BUSINESS WIRE)-- net-markets@ground.zero(2) Conference--November 17, 1999--
As part of its continued investment in the Internet as a communications and electronic business tool, 3M, (NYSE:MMM - news), Occupational Health and Environmental Safety Division has signed an agreement with VerticalNet, Inc. (Nasdaq: VERT - news), the Internet's premier portfolio of business-to-business vertical trading communities and First Mover in the space, that will provide industrial health and safety customers new access to 3M products.
Under the agreement, 3M will stand out as the most prominent brand of respiratory protection in the Buyer's Guides of 24 of VerticalNet's industrial communities.
Members of these communities within the $600 million U.S. industrial respiratory protection market will be able to access information and view content about 3M products online-with the ability to order through a VerticalNet E-Commerce Center on each of 3M's 24 vertical trade communities.
``We selected VerticalNet because its leadership position attracts targeted users worldwide to its various communities,' said Philip B. Hage, Public Relations Manager of 3M. ``VerticalNet continues to prove that the Internet is an effective and viable marketing and communications channel that offers tremendous opportunity for new business development.'
``We're excited to have 3M on board in this important E-Commerce-Center initiative,' said Mark Walsh, president and CEO of VerticalNet. ``VerticalNet continues to extend its lead by partnering with industry leaders in significant markets like 3M's Occupational Health and Environmental Safety division.' Added Walsh, ``We're forging new relationships, both content and purchasing based, bringing in new industrial health and safety customers who want online solutions never before available to the 3M OH & ES buying community.'
VerticalNet owns and operates 53 targeted communities of commerce in 10 industrial sectors, including chemicals, paintings & coatings, oil & gas, adhesives & sealants, health & safety, and machine tools.
Each vertical trade community contains current industry news, discussion forums, event calendars, newsletters, career centers, online resources such as software, and the ability to purchase products through VerticalNet's E-Commerce Centers.
Specific terms were not announced. The agreement is only with 3M's Occupational Health and Environmental Safety Division and does not affect other 3M business units.
About 3M
3M is the leading supplier of industrial respiratory protection products, offering a full line of maintenance-free, low-maintenance and conventional-maintenance respirators. 3M offers air purifying and supplied air respirator systems for protection against a wide range of workplace airborne contaminants.
3M also supplies hearing protection products, sorbent materials to control workplace spills, personal air monitoring devices, and other workplace safety equipment.
3M OH&ESD is investing in the Internet because health and safety customers want solutions for workplace safety problems more quickly and on their own time. Increasingly, they are searching for personal protective equipment online.
3M has created a web site that offers product selection tools--including a ``build your own' respirator system, explanations of relevant government regulations, safety software, as well as sales and marketing content to assist customers and distributors.
VerticalNet will extend 3M's leading role as a reliable information resource for existing customers and expand 3M's online offerings to include purchasing for health and safety customers who are transaction-oriented and convenience-focused.
About VerticalNet
VerticalNet, Inc. (www.verticalnet.com), owns and operates 53 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with comprehensive sources of information, interaction and e-commerce.
They are grouped into 10 sectors: ADVANCED TECHNOLOGIES: Aerospace Online, Auto Central.com, ComputerOEM Online, Embedded Technology.com, Medical Design Online, Plant Automation.com, Semiconductor Online, Test and Measurement.com; COMMUNICATIONS: Digital Broadcasting.com, EC Online, Fiber Optics Online, Photonics Online, Premises Networks.com, RF Globalnet, Wireless Design Online, Wireless Networks; ENVIRONMENTAL: ElectricNet, Pollution Online, Power Online, PublicWorks Online, Pulp and Paper Online, Safety Online, Solid Waste Online, Water Online; FOOD AND PACKAGING: Bakery Online, Beverage Online, Dairy Network.com, Food Ingredients Online, Food Online, Meat and Poultry Online, Packaging Network.com; FOODSERVICE/ HOSPITALITY: E-hospitality.com, Foodservice Central.com; HEALTHCARE: E-Dental.com, Home Health Provider.com, Hospital Network.com, Long Term Care Provider.com, Nurses.com; MANUFACTURING AND METALS: Machine Tools Online, Metrology World.com, Surface Finishing.com, Tooling Online; PROCESS: Adhesives and Sealants.com, Chemical Online, Hydrocarbon Online, Paint and Coatings.com, Pharmaceutical Online, Oil and Gas Online; SCIENCE: Bioresearch Online, Drug Discovery Online, Laboratory Network.com; SERVICE: HR Hub.com, Property and Casualty.com.
This announcement contains forward looking statements that involve risks and uncertainties, including information contained in this document relating to the ability of members to access information and view content about 3M products online and to order through an E-Commerce Center, as well as statements that are preceded by, followed by or include the words ``believes,' ``plans,' ``intends,' ``expects,' ``anticipates' or similar expressions.
For such statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and 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 the failure of the agreement to go into effect on January 1, 2000, as well as those set forth in the Company's Annual Report on Form 10-K for the period ending December 31, 1998 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 1999, both of which have been filed with the SEC.
VerticalNet is the registered trademark of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of their respective owners. |
