Airbus Selects Vastera to Smooth Global Trade; Leading Aircraft Manufacturer Seeks to Improve Spare Parts Cycle Times with TradeSphere.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--June 7, 2001 Vastera (Nasdaq:VAST), the leading provider of solutions for Global Trade Management, today announced that Airbus Industrie of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. (AINA) has licensed its TradeSphere solution to shorten international cycle times, while complying with government trade regulations. Airbus currently has over 2,500 aircraft in service around the world. Each aircraft has millions of unique parts, which require constant monitoring and scheduled replacement to ensure the highest levels of safety. Because a single part can ground an airplane, Airbus must be able to ship spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. to customers around the world on a moment's notice. AINA has licensed Vastera's TradeSphere solution to shorten cycle times associated with international shipments of spare parts. By automating the regulatory compliance functions as well as producing complete and accurate international shipping documents, AINA expects to avoid costly delays at both point of departure and point of entry. "We need to be able to respond to our customer's requests for parts very quickly," said Charlie Fletcher, VP of IT for AINA. "The faster we can get a part to its international destination, the faster our customer can get its aircraft back in service. At the same time, we want to be compliant with government trade laws. We believe the Vastera solution can help us accomplish both of these goals." "Moving goods across international borders for any company is difficult," said Mark Ferrer, COO and President of Vastera. "In the aerospace industry, it's even more difficult, due to the potential military uses of aircraft parts. We're pleased that AINA has entrusted us with such a mission critical part of their business, and we're looking forward to getting them up and running quickly." About Vastera Vastera is the leading provider of solutions for global trade management. Its solutions including modular, web-native applications, trade management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , are designed to streamline the trade functions of global business. The foundation of these solutions is Global eContent, a comprehensive, rules-based application of country-specific trade and regulatory data, which is maintained and updated daily. Vastera's solutions drive quick, tangible benefits for its clients by accelerating the flow of goods through the global supply chain, and reducing the associated labor costs, third party logistics fees, inventory carrying costs Carrying costs Costs that increase with increases in the level of investment in current assets. , and duties. Vastera clients include: Ford, Alcatel, Dell, Microsoft, Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. Dairy Board, Lucent Technologies and Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony . For more information, please visit www.vastera.com. This press release includes statements, which may constitute forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Statements in this press release that are not strictly historical are "forward looking" statements which are subject to the many risks and uncertainties that exist in Vastera's operations and business environment. These risks and uncertainties may cause actual results to differ materially from the expected results and include, but are not limited to, Vastera's limited operating history, history of losses and anticipation of continued losses, potential volatility of quarterly operating results, the ability to successfully implement Vastera's expansion plans, risks related to the Internet, risks related to legal uncertainty and other risks which are set forth in more detail in Vastera's Registration Statement on Form S-1, as amended, as well as other reports and documents filed from time to time with the Securities and Exchange Commission. |
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