AutoAlliance International, Inc. Joins list of Vastera Managed Services Clients.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--March 13, 2000 Vastera, (Nasdaq: VAST), the leading provider of solutions for Global Trade Management, today announced that AutoAlliance International
AAI, headquartered in Flat Rock, Michigan For the Flat Rock in Delta County, MI, see . Flat Rock is a city in Wayne County of the U.S. state of Michigan. As of the 2000 census, the city population was 8,488. Flat Rock is home to the AutoAlliance International manufacturing plant, co-owned by Ford Motor Company and Mazda , was founded in 1984 as the U.S. based manufacturer of Mazda automobiles. The company employs nearly 2,000 persons and manufactures Mazda 626 and Mercury Cougar The Mercury Cougar was an automobile sold under the Mercury brand of the Ford Motor Company's Lincoln-Mercury Division. The name was first used in 1967 and was carried by a diverse series of cars over the next three decades. automobiles. It imports parts from over 12 countries around the world for assembly in its just-in-time facility and controls over 1,400 distinct foreign parts in its foreign-trade zone operation. Quality, speed and efficiency are critical to the success of AAI. By leveraging Vastera's 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 staff and TradeSphere software solutions, AAI expects to further reduce costs and improve efficiencies. Under the terms of the agreement, Vastera will assume management of AAI's import and foreign-trade zone operations including classification, valuation, duty minimization, documentation, electronic entry filing, import liquidation, and preferential trade program management. "We're a lean manufacturer that relies on innovation to stay profitable," said Gail Sherard, General Manager of Corporate and Strategic Planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. at AAI. "Our highly automated facility represents that commitment and our relationship with Vastera will help to further reduce costs of our global trade operations." "When a just-in-time manufacturer asks you to manage a critical component of their supply chain, you know you're doing something right," said Mark Ferrer, COO of Vastera. "We not only believe we can reduce AutoAlliance's cycle times, but we think we can save them more money in the process by better leveraging preferential duty programs." About Vastera Vastera is the leading provider of solutions for global trade management. Its solutions including modular, web-native applications, trade management consulting and managed services, 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, 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. 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion