ATR Korea Signs Definitive Agreement With Descartes To Create Federated Logistics Network Of Korean National Interest.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--July 31, 2000 ATR ATR Achilles tendon reflex, see Ankle reflex Korea Joins Global Logistics Network through Descartes' DeliveryNet Technology The Descartes Systems Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DSGX DSGX Dynamic Sound Generator Xtra (Sony) DSGX Dynamic Sound Generator Extra )(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DSG DSG Direct Shift Gearbox (Audi) DSG Dosage DSG Deputy Secretary General DSG Dressing DSG Designate DSG Desmoglein DSG Duke Student Government (Duke University) .), a leading provider of global Internet logistics solutions, announced today that ATR Korea, a provider of advanced technologies and resources for logistics, banking, ASPs and networks, has signed a definitive agreement to license Descartes' DeliveryNet solution and join the federated Connected and treated as one. See federated database and federated directories. Global Logistics Network. This network will empower Korean industries to extend their logistics infrastructure and market opportunities beyond Korea and into the global marketplace. Descartes first announced ATR Korea's signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. on June 1, 2000. This release confirms that Descartes and ATR Korea have reached a definitive agreement. ATR Korea will provide Descartes' DeliveryNet solution, which includes Descartes' e-Frame(TM) Internet logistics infrastructure, to the Korean marketplace through ATR Korea's newly created consortium. "ATR Korea is building a logistics network of Korean National Interest that will enhance the global competitiveness of Korea-based organizations," said W. Andrew Youn, President and Chief Executive Officer of ATR Korea. "Participants that connect to the Global Logistics Network through Descartes' DeliveryNet technology can optimize their existing business processes and information flow, consequently creating new business initiatives that drive new revenue." LG International, a US$54 billion Korean conglomerate with a network spread over more than 120 countries, is one of the major companies expected to join the ATR Korea-led consortium. "Descartes' technology will allow us to rapidly integrate our trading partners into an optimized e-fulfillment chain for global visibility of goods across the network," said D.H. Kang, Senior Vice President, e-Venture Division, LG International Corporation. "A single point of connection to the Global Logistics Network via Descartes will also reveal new business opportunities for our organization within the global marketplace." "ATR Korea's connection to the Global Logistics Network via Descartes' DeliveryNet technology will accelerate the entry of Korean companies into the global marketplace to enhance their global competitiveness," said Peter Schwartz, Chairman and Chief Executive Officer at Descartes. "The market potential for Asia-Pacific in e-commerce is huge. Today's announcement is further evidence of the traction that our Internet fulfillment solutions are achieving in the marketplace and we are extremely proud of our association with Korea's major business leaders." ATR Korea is one of several leading Asian organizations that have recently licensed Descartes' DeliveryNet solution, including the Vanda Group, China's largest systems integrator; Konsortium Logistik Berhad, Malaysia's leading third party logistics provider; and Hansol CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) , owner and operator of Korea's largest online shopping mall. Descartes' DeliveryNet solution is licensed on a transaction fee basis. Descartes has created a strong presence for its logistics network technology and the Global Logistics Network in the Asian marketplace with these recent announcements. About ATR Korea ATR Korea is a leading provider of advanced technologies and resources for logistics, banking, ASPs, and networks. In the logistics arena, ATR Korea's goal is to provide high quality logistics services to enterprises to enhance the effectiveness of logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet and reduce logistics costs. The ATR Korea-led consortium is creating an extensive nationwide e-fulfillment network with participants that include huge conglomerates, logistics companies and e-commerce enterprises. About Descartes Descartes is a leading provider of end-to-end logistics solutions that facilitate B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. . Descartes' e-fulfillment software and exchange solutions enable companies to create high-speed, high-performance fulfillment networks called DeliveryNets. DeliveryNet solutions empower organizations to deliver reliable, responsive customer service in a profitable manner and to create innovative new products and services. DeliveryNet solutions leverage the Internet-based Global Logistics Network, an open, worldwide network of shippers, receivers, carriers, logistics service providers, e-marketplaces, vertical portals A Web site that provides news, articles and services to a particular industry such as IT, finance and retail. It is the industry-specific equivalent of the general-purpose portal on the Web. Also called a "vortal." See portal, corporate portal, business intelligence portal and Web hub. , and transportation exchanges. The result is a global e-fulfillment information infrastructure that provides cost savings and revenue opportunities for businesses that need to manage physical product movement. Descartes products are licensed today by more than 850 companies in 35 vertical industries in over 50 countries worldwide. For more information about Descartes, visit www.descartes.com. All registered and unregistered trademarks mentioned in this release are the property of their respective owners. This release contains statements that may relate to expected revenue from and transaction volume of Descartes customers, performance of Descartes' DeliveryNet solutions, market dynamics and other matters that may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. The Company's actual results may differ from the results discussed in the forward-looking statements as a result of factors discussed in the section entitled, "Risk Factors" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. and other securities commissions across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. . |
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