AssetTRADE Launches Marketplace for Industrial Assets.Business Editors NORTHFIELD, Ill.--(BUSINESS WIRE)--April 18, 2000 Partners include Entrade Inc., Internet Capital Group, Michael Fox Michael Fox may refer to:
International and Henry Butcher International AssetTRADE (www.assettrade.com) has announced the launch of its Business-to-Business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) marketplace for the disposition and acquisition of used industrial equipment. The new marketplace combines more than 175 years of asset management and recovery experience, the largest database of pre-qualified buyers and sellers, and experienced industry partners. AssetTRADE has reached a licensing agreement to be powered by the Entrade technology (NYSE NYSE See: New York Stock Exchange :ETA e·ta n. Symbol  The seventh letter of the Greek alphabet.ETA estimated transmitting ability. ; www.entrade.com). With more than 350,000 qualified buyers, AssetTRADE formed exclusive partnerships with two leaders in international industrial and commercial asset management and recovery: Henry Butcher International, the world's largest industrial auctioneer AUCTIONEER, contracts, commerce. A person authorized by law to sell the goods of others at public sale. 2. He is the agent of both parties, the seller and the buyer. 2 Taunt. 38, 209 4 Greenl. R. 1; Chit. Contr. 208. 3. , and Michael Fox International, one of the top five U.S. industrial auctioneers. Internet Capital Group (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 :ICGE) and Entrade Inc. are the two largest shareholders in the company. "AssetTRADE combines proven traditional disposition methods with on-line marketing and sales to provide services to buyers and sellers," said Robert Kohn, Chairman 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 AssetTRADE. "Whether it's to appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. , re-deploy, sell, auction, buy, finance, or ship machinery and equipment, AssetTRADE is unique in its ability to provide buyers and sellers a complete marketplace." AssetTRADE plans to offer exclusive listings in multiple categories, state-of-the-art cataloging, purchasing, trading, order processing, billing, auction capabilities, account reconciliation, shipping, forwarding, and financial, technical and marketing services. The B2B online auction industry is expected to grow to approximately $52.6 billion by 2002, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
In order to devote his full attention to establishing AssetTRADE as the leading marketplace for industrial assets, Mr. Kohn has relinquished his responsibilities as a board member of Entrade Inc. Mark F. Santacrose, CEO of Entrade Inc., intends to serve on AssetTRADE's Board of Directors. About Entrade Entrade (NYSE:ETA; www.entrade.com) offers a combination of capital, experienced management and e-commerce technology to create sustainable B2B marketplaces. This foundation, strengthened by partnerships with established industry leaders and land-based networks, provides an opportunity to build solid businesses with speed, fulfillment capability and efficiency. To date, Entrade has invested in seven electronic marketplaces, with an eighth pending shareholder approval. Entrade holds a majority ownership in TruckCenter.com (100%), utiliparts.com (80%) and printeralliance.com (64%). Entrade also holds minority interests in AssetControl.com (38%), TradeTextile.com (25%), pricecontainer.com (15%) and assettrade.com (14.04%, with an additional 14.04% pending). In addition, Entrade has entered an agreement, subject to shareholder approval, to acquire a 15% interest in ATMcenter.com. Nationwide Auction Systems, a land-based public auction company, is a 100% owned subsidiary of Entrade. Entrade intends for Nationwide Auction Systems to provide asset disposition services for its e-commerce marketplaces, as well as e-enable this business in the second quarter. Entrade recently announced the creation of Entrade Asia Pacific, a 50-50 joint venture with Gondwana Resources NL, an Australian-based business, with plans to develop B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. marketplaces, as well as to sub-license the Entrade technology in the Asia-Pacific region. The agreement is subject to the approval of Gondwana's shareholders. About AssetTRADE AssetTRADE is a global marketplace for used industrial equipment. The company's on-line and off-line sales and marketing captabilities offer AssetTRADE customers the ability to identify, evaluate, appraise and resell industrial machinery and equipment. Visit www.assettrade.com for more information. Statements contained in this press release, which are not 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. . Such forward looking statements are necessary estimates reflecting the best judgment of the party making the statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the parties should be considered in light of those factors. There can be no assurances that such factors or other factors will affect the accuracy of such forward-looking statements. |
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