CE Franklin Pioneers eCommerce In Canada's Energy Industry.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Dec. 15, 2000 CE Franklin (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CFT CFT complement fixation test; see under fixation. CFT complement fixation test. .) (AMEX AMEX See: American Stock Exchange :CFK CFK Clausenengen Fotballklubb (Clausenengen Football Club; Norway) CFK Computer Forum KaHo (Computer Aiding Center) CFK Charles Foster Kane (movie, band, White Stripes lyric) ) announces that purchasers are now conducting live transactions on the company's Online Marketplace. In early November, buyers at Talisman Energy Talisman Energy TSX: TLM is one of Canada's largest petroleum companies. It was originally part of British Petroleum, known as BP Canada, but in 1992 it became an independent company named Talisman Energy. Inc.'s Lac La Biche Lac La Biche is a large lake in north-central Alberta, Canada. It is located along the Northern Woods and Water Route, 95 km east of Athabasca. Lac La Biche has a total area of km ( sq mi)[1], including km ( sq mi) islands area. field office in Northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. began searching and requisitioning from CE Franklin's digital catalog of over 42,000 items, 24 hours a day, seven days a week. In addition, Talisman purchasers are now able to access information from the Marketplace on real-time inventory availability, customer-specific pricing and order status. In the coming months, as Marketplace systems are tested and verified, CE Franklin will extend access to additional Talisman personnel in other locations. "CE Franklin appreciates the investment of time and resources that Talisman has made as the key participant in this pilot project," said John Gilbank, CE Franklin's Chairman and Chief Executive Officer. "We are convinced that this tool will help to streamline processes and reduce overall transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). for both Talisman and CE Franklin. Talisman will be among the first in the energy industry to realize the benefits of eCommerce." "Talisman is looking forward to working with CE Franklin in a joint effort to further reduce the costs associated with procurement," added Alan Vincent, Manager, Materials and Contracts at Talisman. CE Franklin's Online Marketplace Advantage CE Franklin's Online Marketplace combines a tradition of customer service and the Company's nation-wide distribution infrastructure with a comprehensive product catalog, leading edge enterprise software for transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and advanced eCommerce solutions. "The eCommerce fulfillment team, located in CE Franklin's Distribution Center in Edmonton, Alberta has been processing Talisman orders for overnight delivery," Mr. Gilbank explained. "Consolidated orders are shipped to the nearest CE Franklin service center, which coordinates final delivery to the customer. Customer service including product returns, product add-ons and technical support are also provided by the local service center. "We think that CE Franklin's established order fulfillment and customer support capabilities will differentiate us from other newer business-to-business enterprises that have focused primarily on the electronic aspects." With the continued success of the Talisman project, CE Franklin has now started working to introduce other existing and prospective customers to the benefits of an eCommerce partnership. About CE Franklin CE Franklin, is Canada's largest distributor of supplies for the drilling, production, processing and pipelining of hydrocarbons. In addition to its complete range of production equipment, including artificial lift technology, the company sells pipe, valves, fittings and maintenance supplies and provides complete customer inventory procurement and management services through its 41 locations across Canada. The company also manufactures and packages specialized products for the energy industry and provides supply packages for projects in the hydrocarbon processing industry through its Piping Resources Division. CE Franklin's common stock trades on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CFT and on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol CFK. For additional information visit the website at www.cefranklin.com. This news release includes forward looking statements within the meaning of section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that expected results will be achieved. Important factors that could cause actual results to differ materially from those in the forward looking statements herein include economic conditions, seasonality of drilling activity, commodity prices for oil and gas, currency fluctuations and government regulations, and other risks and uncertainties as described in the Company's 1999 Annual Report on Form 20-F as filed with the United States Securities and Exchange Commission. |
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