AgEx.com, McKeany-Flavell Announce Strategic Partnership.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Sept. 14, 2000 AgEx.com, the leading online high-value agriculture e-commerce service company, and McKeany-Flavell Company, Inc., an international commodity ingredient brokerage and information company, have formed a strategic partnership for the purpose of establishing electronic marketplaces for sugar and other commodity ingredients. AgEx.com and McKeany-Flavell estimate the value of the target market at more than $13 billion. "McKeany-Flavell has more than 50 years of experience in marketing commodities, and their commitment to information about these products makes this partnership a perfect fit," AgEx.com Chief Executive Officer Royce Nicolaisen said. "Their deep knowledge base will be invaluable as we work together to build more efficient supply chains and new marketplaces for the food industry." "We looked at a number of companies before deciding to enter into a strategic partnership with AgEx," McKeany-Flavell 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. Ray Washmera said. "We came to the conclusion that the AgEx.com-McKeany-Flavell combination is a near-perfect match. Both companies are experienced, have deep agricultural roots, and utilize complementary information and technology." "The synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. from this strategic partnership is very exciting," McKeany-Flavell Chairman Mike Ruffolo said. "We look forward to working with AgEx and establishing an online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. service for refined sugar." Nicolaisen said that AgEx.com and its News Service will unveil a site with news, statistics, and information features about sugar and other sweeteners this fall. A full-fledged trading floor will debut shortly thereafter. McKeany-Flavell began in 1948 in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden when Roy McKeany recognized the need for a West Coast-based brokerage. McKeany-Flavell has since grown nationally and internationally with sales in a variety of commodity categories, totaling over $275,000,000. Their sweetener Sweetener A special feature added to a debt obligation or preferred stock to promote marketability. Notes: Warrants and convertibles are two popular sweeteners. See also: Convertible Bond, Kicker, Warrant Sweetener roots remain in sugar, corn sweeteners, molasses molasses, sugar byproduct, the brownish liquid residue left after heat crystallization of sucrose (commercial sugar) in the process of refining. Molasses contains chiefly the uncrystallizable sugars as well as some remnant sucrose. and honey. Clients include many national and multi-national Fortune 500 food companies. McKeany-Flavell is headquartered in Oakland, CA. AgEx.com went online in December, 1999 and has established itself as the leading trading and information site for agricultural products, including rice, tree nuts, dried fruits, pulses (dry beans, peas and legumes Legumes A family of plants that bear edible seeds in pods, including beans and peas. Mentioned in: Cholesterol, High legumes (l ), processing tomatoes and juice concentrates. Over $7 million in agricultural products have been traded through AgEx this year. Several worldwide food companies have used AgEx exchanges and hosted successful private auctions on AgEx.com's agauctionEx, which brings the efficiencies of traditional auction formats to the Internet. AgEx.com maintains offices in San Francisco, Sacramento and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . www.agex.com |
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