ADVISORY/MEDIA ALERT: Teleconference 10:30 A.M. EDT To Discuss Dairy.com's Announcement of a Neutral Online Exchange Serving the U.S. Dairy Industry.Business Editors ADVISORY...for Wednesday (July 26) --(BUSINESS WIRE)
WHAT: Teleconference announcing an independent, neutral online
exchange serving the U.S. dairy industry.
WHO: Spokespersons from Dairy.coms founding partners:
- Dairy Farmers of America
- Dannon Company
- Dreyer's Grand Ice Cream
- Kraft Foods
- Land O'Lakes
- Leprino Foods
- Schreiber Foods
- Suiza Foods
WHEN: 10:30 A.M. EDT
TODAY, WEDNESDAY, JULY 26
Dial-In: 1-800-553-0326
Live Web audio cast: www.dairy.com
Digitized replay: 1-800-475-6701(access code - 530182)
DAIRY.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. ANNOUNCES NEUTRAL ONLINE EXCHANGE SERVING THE ENTIRE DAIRY INDUSTRY Dairy Farmers Dairy Farmers is one of Australia's largest and oldest dairy manufacturers, established in 1900, supplying products to local and international markets such as eastern Europe, the Middle East and Asia. , Processors and Manufacturers to Benefit from Supply Chain Efficiencies NEW YORK--(BUSINESS WIRE)--July 26, 2000 Today, Dairy.com announced the first business-to-business online vertical exchange focused specifically on serving the entire U.S. dairy industry. Dairy.com is an independent, neutral company whose services and tools will be open to all dairy industry participants from farmers to processors and manufacturers. The company's mission is to use the power of the Internet to help the industry create a better way of doing business. Dairy.com will provide an online platform for the entire dairy industry to more efficiently conduct the same kinds of transactions that occur today. Dairy.com was founded by a broad consortium of eight leading dairy industry organizations representing all segments of the industry - farmer owned cooperatives, milk, ice cream and yogurt yogurt: see fermented milk. yogurt Semisolid, fermented, often flavoured milk food. Yogurt is known and consumed in almost all parts of the world. processors and cheese manufacturers. Dairy.com's founding partners include: Dairy Farmers of America Dairy Farmers of America (DFA) is an agricultural marketing cooperative owned by about 19,514 members (dairy farmers) representing 11,306 farms in the United States representing one-third of the US milk supply. In 2006 it had $7,898,824,000 in sales. , The Dannon Company, Dreyer's Grand Ice Cream, Kraft Foods Kraft Foods Inc. (NYSE: KFT) is the largest food and beverage company headquartered in North America and the second largest in the world after Nestlé SA. The Philip Morris Company (now known as Altria Group), a company that produces tobacco products, acquired Kraft for , Land O'Lakes
Dairy.com is currently planning five key functional platforms for the site: a dairy commodity exchange, dairy farmer services, information tools, supply chain management tools and industry focused community and content. Dairy.com is scheduled to launch its first release in the first quarter of 2001 with live trading of select commodities including milk and cream, logistics estimating tools and industry-focused content. Future releases will include spot and long-term trading of other dairy commodities including butter, cheese and powders as well as logistic lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation services and farm management tools. "The dairy industry is ideally positioned to benefit from an online exchange," said Jack Gherty, president and chief executive officer of Land O'Lakes, one of the founding partners. "It is a large industry with unique information and logistics demands driven by the variety and perishability per·ish·a·ble adj. Subject to decay, spoilage, or destruction. n. Something, especially foodstuff, subject to decay or spoilage. Often used in the plural. of its products, the diversity of its producers, market fragmentation (1) Storing data in non-contiguous areas on disk. As files are updated, new data are stored in available free space, which may not be contiguous. Fragmented files cause extra head movement, slowing disk accesses. A defragger program is used to rewrite and reorder all the files. and a very complex regulatory environment. The key to Dairy.com is that it creates new linkages, addressing producer, processor and marketer needs from a central access point." Dairy.com will be the first site to provide comprehensive services and tools to dairy farmers as well as processors and manufacturers. "Many dairy farmers are relying on Internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. to get more done in less time. Dairy.com will serve as a resource for America's dairy farmers by providing them with information to manage their businesses more effectively," explained Gary Hanman, chief executive officer of Dairy Farmers of America (DFA DFA - Deterministic Finite-state Automaton. See Finite State Machine. ), a founding partner of Dairy.com. "The site will also provide more powerful farm management tools enabling dairy farmers to benchmark and optimize their businesses, and the central online location will connect producers with a wide range of suppliers." Dairy.com's online dairy commodity exchange will enable users to have better visibility of trading partners and market prices. In addition, Dairy.com will help reduce operating costs operating costs npl → gastos mpl operacionales and inventories by improving coordination between buyers and sellers. "This exchange will be completely neutral and open to everyone in the industry. By connecting the entire dairy supply chain, everyone will benefit," said Mary Kay Mary Kay is a brand of skin care and color cosmetics sold by Mary Kay Inc. Mary Kay World Headquarters is located in the Dallas suburb of Addison, Texas. Mary Kay Ash (d. November 22, 2001) founded Mary Kay Inc. on Friday, September 13, 1963. Haben, president of the Kraft cheese division and executive vice president of Kraft Foods, a founding partner of Dairy.com. "With Dairy.com, participants can streamline the buying or selling process for dairy commodities and use information tools to make better operating decisions." Two major industry associations support Dairy.com and the benefits it will bring to the dairy industry. "The formation of Dairy.com represents a great effort, bringing the industry together around a common initiative," stated E. Linwood Tipton, chief executive officer and president of the International Dairy Foods Association (IDFA IDFA International Dairy Foods Association IDFA International Documentary Filmfestival Amsterdam IDFA Improved Decision-Feedback Algorithm IDFA Illinois Development Financed Authority ). "Dairy.com will be open to all companies, small and large, and allow everyone to benefit from the comprehensive services the site will offer." "A business-to-business web site like Dairy.com is the next evolutionary step in the ongoing effort to improve the marketing efficiency of the U.S. dairy industry, from grass to glass," said Jerry Kozak, chief executive officer of the National Milk Producers Federation (NMPF NMPF National Milk Producers Federation NMPF Network Management Productivity Facility ). "The knowledge offered by Dairy.com to producers, cooperatives and processors will be a powerful asset for everyone who wants to make use of it." The founding partners have contributed significant financial and other resources to Dairy.com to ensure its success. Additionally, each founding partner will have a representative on Dairy.com's board of directors. The board expects to designate des·ig·nate tr.v. des·ig·nat·ed, des·ig·nat·ing, des·ig·nates 1. To indicate or specify; point out. 2. To give a name or title to; characterize. 3. a chief executive officer in the near future. Prior to the board's selection, Gregg L. Engles, chairman of the board and chief executive officer of Suiza Foods, a founding partner of Dairy.com, will act as interim chief executive officer and representatives of the founding partners will provide additional key interim functions and services. "We are excited about the opportunities that Dairy.com provides. This transforming technology will enable users to create greater value in their core businesses," explained Engles. "While we've identified a broad range of services, Dairy.com will be positioned to add new services and deliver benefits in ways that we have only just begun to envision." Dairy.com is the first business-to-business online vertical exchange focused specifically on serving the entire U.S. dairy industry. Dairy.com was founded by a broad consortium of eight leading dairy industry organizations representing all segments of the industry - farmer owned cooperatives, milk, ice cream and yogurt processors and cheese manufacturers. Dairy.com is an independent, neutral company whose services and tools will be open to all dairy industry participants. Five key functional platforms are planned for the site: a dairy commodity exchange, dairy farmer services, information tools, supply chain management tools and industry focused community and content. For more information, visit Dairy.com's Web site at http://www.dairy.com |
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