Borusan Flat Products selects FerrousExchange as its Partner for B2B e-Commerce.Business & High Tech Editors ISTANBUL, Turkey & NEW YORK--(BUSINESS WIRE)--July 12, 2000 Borusan Flat Products, a leading European steel service center and producer of cold rolled and galvanized gal·va·nize tr.v. gal·va·nized, gal·va·niz·ing, gal·va·niz·es 1. To stimulate or shock with an electric current. 2. steel products, today announced that it has selected FerrousExchange Inc, a highly efficient Internet-based global marketplace for the iron and steel industries, as its partner for business-to-business e-Commerce. As part of the agreement, Borusan will be cooperating with FerrousExchange to purchase and offer significant annual quantities of steel products through the FerrousExchange(TM) Marketplace, which is expected to launch Summer, 2000. Borusan's cooperation with FerrousExchange represents one of the most significant partnerships in the emerging field of steel e-Commerce. "As a major purchaser of hot rolled coils, pipes, and cold rolled and galvanized steel products, we view e-Commerce as a critical tool for improving supply chain and distribution chain efficiency," said Borusan officials. "FerrousExchange, with its focus on transaction efficiency and critical service integration, is an ideal platform for achieving these goals. FerrousExchange has effectively leveraged its expertise in the steel industry to create a unique and comprehensive model that adds tremendous value to customers. As a result, we can continue to provide premium levels of value and service to our existing customers who choose to do business with us via FerrousExchange." Ferit Ferhangil, 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 FerrousExchange said, "We are thrilled that Borusan has chosen to become a strategic partner of FerrousExchange. Borusan's leading position as both a buyer and a seller of steel will enhance liquidity on the FerrousExchange Marketplace, resulting in significant benefits for our market participants. Borusan's decision to choose FerrousExchange as its e-Commerce partner reinforces the credibility of our model, as well as our vision to provide real value to customers by streamlining transactions and offering integrated services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. ." The alliance with FerrousExchange represents a continuation of Borusan's leadership position as a steel service center and processor. In 1998, Borusan inaugurated a new business line called "Integrated Logistics" to provide industrial firms with a comprehensive package of shipping, warehousing, customs-clearance, packaging, light installation and shipping services. In the future, many of these critical support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services will also be offered to Borusan's customer base as a component of the FerrousExchange Marketplace. Earlier this year, FerrousExchange announced it had entered into key strategic marketing alliances with: Gibraltar Steel (Nasdaq: ROCK), a leader in the intermediate steel processing industry; Ispat International Ispat International N.V. is a steel producing company with operations in Mexico, Trinidad, Canada, Germany. The company is specialised in the integrated mini-mill process and has a wide range of flat & long steel products, including slabs & wire rods. N.V. (NYSE NYSE See: New York Stock Exchange : IST; AEX AEX See: Amsterdam Exchange : IST NA), a leading, global steel producer; and Vanomet AG, one of the largest independent trading companies for semi-finished steel. As part of these alliances, these companies made multi-year tonnage commitments to purchase and offer significant annual quantities of steel products through the FerrousExchange Marketplace. About FerrousExchange Inc FerrousExchange Inc (www.FerrousExchange.com) is implementing a highly efficient e-Commerce solution to facilitate the buying and selling of iron and steel products over the Internet. FerrousExchange expects that its online Marketplace will commence operations in Summer, 2000. FerrousExchange, which has several prominent individual, institutional and industry investors, including Ispat International, Gibraltar Steel and Prospect Street Ventures, currently has operations in 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 , Pittsburgh and Singapore. About Borusan Flat Products Borusan Flat Products (www.borusan.com) is a leading European steel service center and producer of cold rolled and galvanized steel products. Borusan Flat Products is a division of Borusan Group, one of the strongest industrial groups in Turkey. The Borusan Group is comprised of 32 companies that produce steel products, manufacture valve accessories for internal combustion engines Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. , distribute luxury automobiles and earthmoving equipment, and offer logistics services. With 30 companies mainly engaged in the production of steel products, the group became the third-largest European manufacturer of welded steel pipes in 1998 by establishing a strong partnership with Mannesmann AG, the German conglomerate. The Borusan Group employs 4,100 people and is targeted to generate net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of US$ 900 million in 2000. Forward Looking Statements In accordance with 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, FerrousExchange Inc and Borusan note that statements in this release which look forward in time involve risks and uncertainties that may cause actual results or achievements to materially differ from those indicated by the forward looking statements. These forward looking statements include any statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , expansion of their businesses, growth in revenue and the impact of accounting changes and interpretations on its future results, as well as any other statements, which are not solely historical. FerrousExchange's and Borusan's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond their control. Therefore, there can be no assurance that the 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. will prove to be accurate. 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