Aerospace Hardware Exchange Begins Beta Trials in December; AHXonline.com Will Offer Traditional RFQ and Auction Capabilities.Business Editors TORRANCE Torrance, industrial and residential city (1990 pop. 133,107), Los Angeles co., SW Calif.; inc. 1921. It has large aircraft and electronics industries. Among its many manufactures are aircraft, electronics, communications equipment, aluminum products, steel, and , Calif.--(BUSINESS WIRE)--Nov. 8, 2000 Aerospace Hardware Exchange (AHX AHX American History X (movie) AHX Abyss' Highest eXperience ) today announced that beta trials for its neutral business-to-business online marketplace for aerospace hardware will begin on schedule in December. The site, www.ahxonline.com, will be fully transactional at the conclusion of the trials in December with an initial focus on the fastener supply chain. The beta trials will include several small, mid-size and large suppliers and buyers of fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. that volunteered to participate in the beta trials. Many leading aerospace companies are showing a keen interest in the service, highlighting the need for a hardware-specific online marketplace and the recognized industry expertise of the management team. More than 20 firms have already committed to use AHX once it is operational. Briand Greer, president and co-founder of AHX Group Inc., parent of Aerospace Hardware Exchange, stated: "We are focused exclusively on the hardware market, which represents about 5% of the cost of building a new aircraft, but provides over 50% of the number of parts. AHX will provide flexible, user-friendly transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , technical support and industry information." Greer continued, "Our services will allow our members to reduce procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and sales costs, increase revenues through expanded customer and supplier bases, improve demand and inventory management, and improve customer satisfaction." The company was launched by aerospace industry veterans having the foresight (graphics, tool) Foresight - A software product from Nu Thena providing graphical modelling tools for high level system design and simulation. to create an online solution for the inefficiencies associated with the procurement and sale of aerospace hardware. A virtual who's who Who’s Who biographical dictionary of notable living people. [Am. Hist.: Hart, 922] See : Fame of top aerospace hardware industry executives has formed Aerospace Hardware Exchange, including: -- Briand Greer, president and co-founder of AHX Group Inc., formerly director of Worldwide Distribution for Fairchild Fasteners. -- Nigel Duncan, chief strategy officer, previously director of Boeing Relations for Fairchild Fasteners. -- Jim Stephenson, chief operating officer and co-founder, formerly director of Finance, Research and Planning for the Fairchild Corp. -- Brian Lam, chief information officer and general counsel, who previously served as assistant general counsel to the Fairchild Corp. -- Jordan Law Sr., advisor & board member, who brings over 30 years of aerospace knowledge and is the former president & CEO of Kaynar Technologies, ranked as the fourth-best small company by Forbes in 1997. About AHX AHX is the first business focused on developing and operating the infrastructure to enable a Web-based end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. supply chain solution for the aerospace hardware market. The company is not simply an inventory listing service and will not buy, sell or inventory any products itself. AHX will provide an integrated array of services that will facilitate e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. and information exchange among its community members. The online marketplace is open and independent and is designed to bring suppliers and buyers together to transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting business in a marketplace that favors no one supplier or buyer over another. The company seeks to enhance, not replace, the existing supplier-buyer relationships in the market. For further information visit the company's Web site at www.ahxonline.com Note to Editors: All products/services and trademarks mentioned in this release are the properties of their respective companies. Products and specifications are subject to change without notice. Copyright 2000 AHX Group Inc. All rights reserved. |
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