Adatom Forms Agreement With Shanghai Longwu Fruit Company; Partnership Provides U.S. Farmers And Agricultural Companies Access To The $1 Billion Chinese Agricultural Marketplace.Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--Sept. 29, 2000 Adatom.com, Inc. (Nasdaq:ADTM ADTM Antenna Deployment and Trim Mechanism (aerospace engineering) ), a creator and operator of electronic marketplaces, today announced it has signed an agreement with Shanghai Longwu Fruit Company. Shanghai Longwu Fruit Company's parent company, Longwu Port Company, owns and operates a large fruit and vegetable wholesale marketplace in China's port of Shanghai The Port of Shanghai, located in the vicinity of Shanghai, comprises a deep-sea port and a river port. In 2005, with a total of 443 million tons of cargo transported, it became the world's busiest port by cargo tonnage for the first time. . This agreement enables U.S. fruit and vegetable vendors to participate in selling agricultural products directly into the Chinese marketplace. Under the terms of the agreement, Adatom will contract with U.S. vendors of agricultural products to participate in the Shanghai wholesale fruit and vegetable import marketplace. Products from U.S. vendors will be sold to more than one hundred Chinese fruit and vegetable vendors who utilize Longwu's port marketplace to buy wholesale fruit and vegetable imports for distribution throughout China. Established as one of the largest fruit and vegetable marketplaces, occupying over 2.5 million square feet, in the Shanghai port area, Longwu's state-of-the-art facilities and large cold storage facilities enable fruit and vegetable buyers to have permanent representation at the port. Richard S Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a . Barton, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , of Adatom, stated, "This agreement with the Longwu Fruit company positions Adatom as a key agent to provide U.S. agricultural businesses access to the Chinese marketplace and participation in the anticipated agricultural trade boom." About Adatom.com, Inc. Headquartered in Milpitas, California Milpitas (IPA pronunciation: mɪlpitʌs; inhabitants are called 'Milpitans') is a city in Santa Clara County, California. It is located with San Jose to its south and Fremont to its north, at the eastern end of Highway 237 and generally between Interstate freeways 680 and , Adatom.com is a creator and operator of electronic marketplaces worldwide, enabling the most direct interfaces between buyers and sellers. Currently, these marketplaces range from an Internet superstore in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to an evolving global network connecting the China marketplace to the world. Adatom has substantive relationships in China, including strategic partnerships with the China Product Trade Net Center, the Yangling Agricultural Hi-tech Zone, ShenZhen Bay Industrial, Education and Research Center and the China Federation of Industrial Economics. Adatom's Internet superstore (www.adatom.com) offers more than 3 million items for the home, the individual and the office with a comprehensive mix of name brand products in 29 categories. Additionally, Adatom.com provides branded e-Commerce solutions to other online retailers through its proprietary e-Commerce Solution Program (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ) based on a turnkey model of Web site enablement, high quality customer service and fulfillment. Statements in this news release that are not descriptions of historical facts are 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 are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. |
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