Commerce One Teams Up with Seven Leading Businesses to Develop China's Premier B2B Portal; New Joint Venture Extends Global Trading Web.Business Editors/High-Tech Writers WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--March 14, 2000 In a move to extend the scope of the Global Trading Web, the world's largest 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 ) trading community, Commerce One -- the leader in global e-commerce solutions for business -- today signed a letter of intent to establish a joint venture company with seven leading Greater China businesses. The partners are prepared to commit up to US$40 million of initial investment to develop a business-to-business portal for exchanging goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. among businesses worldwide. The joint venture partners include Beijing Enterprises, i-CABLE Ventures, Jardine Internet, New World China Enterprises Projects, SUNeVision, Swire Net Ventures and WI Harper Group. The seven companies and their affiliates have an approximate trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. of 20 percent of Hong Kong's gross domestic product. The portal will anchor the Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and mainland China hub of the Global Trading Web, providing B2B trading opportunities for many industries including aviation, automotive supply chain, building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . , computer and components, fixed and wireless telecommunications, hotels, medical and healthcare products, retail, shipping and logistics. "Analysts estimate that by 2003, business-to-business transactions will be worth almost $3 trillion," said Mark Hoffman, chief executive officer and chairman of Commerce One. "By forming this joint venture we are ensuring that both suppliers and sellers in the Greater China region are able to fully exploit the unparalleled trading opportunities presented by the Global Trading Web. Our joint venture partners comprise a formidable procurement force in the region that fully understands the long-term strategic value of Internet-based trading communities." The joint venture partners and their suppliers will be among the first to join the trading community by building domain-specific vertical trade hubs linking current suppliers and buyers. The joint venture company will also recruit suppliers and buyers from outside the partners' own company supply chains. In addition, the joint venture company will seek other strategic partners in Asia to extend the range of industries represented to include sectors such as petrochemicals and finance. The Global Trading Web comprises many open e-marketplaces running on the Commerce One MarketSite Portal solution and provides unprecedented economies of scale for companies worldwide. Each global trading portal is independently owned and operated by a leading market maker in a region or industry, in order to provide the greatest choice for all trading partners. There are currently over 30 global trading portals, including those operated by Banacci in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , British Telecom The telephone and communications carrier that provides services in Great Britain and Northern Ireland. It used to be a division of the British Post Office, but was privatized in 1984 under Margaret Thatcher's administration. in the UK, Cable & Wireless Optus in Australia, Citigroup in the US, Commerce One in the US, Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. in Germany, NTT NTT Nippon Telegraph and Telephone Corporation NTT New Technology Telescope NTT National Technology Transfer, Inc NTT Name That Tune (TV game show) NTT National Tree Trust NTT Number Theoretic Transform Communications in Japan Japan currently possesses one of the most advanced communication networks in the world. Telephone Telephones - main lines in use: 60.3 million (1997) '''Telephones - [. , SESAMi.com in Singapore, Swisscom in Switzerland and Toronto Dominion Bank in Canada. In addition, General Motors and the Royal Dutch/Shell group operate global trading portals for the automotive and energy industries. General Motors, Ford Motor Company and DaimlerChrysler have announced plans for a combined exchange for the auto industry. Partnerships in Asia include Sinar Mas Group Sinar Mas Group is one of the largest comglomerates in Indonesia. It was formed in 1962. It has many subsidiaries including APP. Sinar Mas Group was founded by Eka Cipta Widjaja. Its main businesses are: Pulp and Paper, Agribusiness, Property and Financial Services. of Indonesia and Nissho Iwai of Japan operating regional and industry specific portals, as well as Com2B, a joint venture in Taiwan that includes leading companies such as Compaq Computer Taiwan, Far Eastern Group, Lite-On Group and Walsin Lihwa Corp. About Commerce One Commerce One (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) is the leader in global e-commerce solutions for business. Through its products, portals and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web is the world's largest business-to-business trading community. Comprising many open e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers and service providers worldwide. Commerce One is located in Walnut Creek, Calif., and can be reached by phone at 800/308-3838 or 925/941-5000 or via the Internet at http://www.commerceone.com. About Beijing Enterprises Beijing Enterprises Holdings Limited ("Beijing Enterprises") is a conglomerate with its main business in Beijing, the capital city and the economic, cultural and political centre of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. Established in 1997 and listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. in the same year, Beijing Enterprises is the sole investment holding conglomerate that the Beijing Municipal People's Government has launched overseas to serve as a primary conduit to channel capital, technologies and management expertise from international markets into Beijing's development efforts. Beijing Enterprises' web address is http://www.behl.com.hk. About i-CABLE Ventures Limited i-CABLE Ventures Limited is a wholly-owned subsidiary of i-CABLE Communications i-CABLE Communications Limited (a Hong Kong Cable Television Limited holding company) SEHK: 1097 NASDAQ: ICAB, i-CABLE in short, is an Internet Service Provider in Hong Kong. Limited (i-CABLE). i-CABLE is the sole cable television operator as well as one of the largest Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. in Hong Kong, currently serving 460,000 pay TV subscribers and 160,000 Internet access customers. It has just launched a broadband service based on cable modem technology. i-CABLE is listed on both the Hong Kong Stock Exchange (stock code 1097) and Nasdaq (symbol ICAB ICAB Institute of Chartered Accountants of Bermuda ICAB Igreja Católica Apostólica Brasileira (Portuguese: Brazilian Catholic Apostolic Church) ICAB International Council Against Bullfighting ). It is 79.4 per cent held by The Wharf (Holdings) Limited, which is also listed on the Hong Kong Stock Exchange (stock code 0004). Wharf Group is a major developer and owner of prime commercial and residential properties in Hong Kong and Mainland China including Times Square and Harbour City. In addition, its communications business core includes i-CABLE, and New T&T, the second largest fixed telecommunications operator in Hong Kong. Its transportation core includes Modern Terminals, the founding container terminal operator in Hong Kong. About SUNeVision Holdings SUNeVision is the technology infrastructure and e-business flagship of Sun Hung Kai Sun Hung Kai Properties Ltd. (新鴻基) (HKSE: 0086 ) is a listed corporation based in Hong Kong. The company is controlled by the 3 Kwok brothers, whose father, Kwok Tak Seng, founded the company. Collectively, they speak for 43. Properties (SHKP SHKP Sherbimi Kombetar i Punes (Albanian: National Service of Labour) ). The company harnesses the strengths of SHKP's principal technology assets -- iAdvantage, SuperHome.net, Super-office.net, PropertyStreet.net, Insurancestreet.net, BankingStreet.net, Red-Dots, Sun Technology, iHON and venture capital investments. From its formation, SUNeVision was immediately positioned as one of Hong Kong's, mainland China's and Asia's premier vertically integrated companies. SUNeVision will be listed on the GEM on March 17, 2000. The strong interest in SUNeVision's initial public offering was demonstrated by its 217 times over-subscription rate, locking up HK$70 billion in the territory. About Jardine Internet Jardine Internet is a member of the Jardine Matheson Group. Jardine Matheson is a multinational Group of eight core businesses focused primarily on Asia. Its operations employ over 150,000 people and its activities are leaders in the fields of financial services, supermarkets, consumer marketing, engineering and construction, motor trading, property and hotels. About New World China Enterprises Projects New World China Enterprises Projects Limited ('NWCEP') is a wholly-owned subsidiary of the listed New World Development Company Limited (stock code: 017). The company was established in November 1997 with the aim to capitalize on opportunities arising from the emerging mass consumer market in the PRC. NWCEP expects to team up with strategic investors that can bring in technical and management expertise when investing in new joint ventures, and its existing strategic partners include General Motors China Inc, Mosler Inc, Consumers Packaging Inc, LifeTech Enterprises Inc, Companion China Ltd, Compaq (China) Investment Co Ltd and Nichimen Co (HK) Ltd NWCEP's current investments span building materials (security systems; ceramic tiles; air conditioning compressors; ceramic glass panels); consumer products (glass bottles; distilled and mineral enhanced water; plastic injection moulds; instant noodles noo·dle 1 n. A narrow, ribbonlike strip of dried dough, usually made of flour, eggs, and water. [German Nudel. ); healthcare and biotechnology (pharmaceutical retail chains; Green A; GAP cultivation of herbal medicine herbal medicine, use of natural plant substances (botanicals) to treat and prevent illness. The practice has existed since prehistoric times and flourishes today as the primary form of medicine for perhaps as much as 80% of the world's population. ; health food; R & D projects on Chinese medicine, botanical drugs and bioinformatics) and auto downstream services (repair centres and auto parts). About Swire Pacific Swire Pacific operates through five divisions: property, aviation, industries, trading and marine services. They represent a diverse range of interests, including Swire Properties, one of Hong Kong's largest property development companies; international airline Cathay Pacific Airways and regional carrier Dragonair; Coca-Cola franchises in Hong Kong, Mainland China, Taiwan and the United States; and shipping, dockyard and container terminal operations in Hong Kong and Southern China. About WI Harper WI Harper is recognized as one of the first high technology venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] creating a bridge between Silicon Valley and the Greater China region. Founded in 1989, WI Harper operates four offices with over US$100 million under management, including the US$70 million Beijing Technology Development Fund invested by Beijing Enterprises, Sun Hung Kai Properties, China Strategic, i-CABLE, Shun Tak, Acer, Lite-On, Silicon Valley Bank and Sybase. WI Harper is one of the early investors in Commerce One. WI Harper can be reached by phone at 852/2151-8128 or via the Internet at http://www.wiharper.com. Forward Looking Statements Certain statements made in this press release by Commerce One are not historical facts but are "forward looking statements" and may involve risks and uncertainties which could cause actual future results to differ materially and adversely from those anticipated by such statements. Included among the factors that could affect Commerce One's performance are: the ability of the joint venture to build its business successfully; the ability of the joint venture to effectively manage future growth; general economic conditions; fluctuations in operating results; market acceptance of the joint venture technology; and the ability of the Commerce One technology to support the operations of the joint venture etc. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 1999. Note to Editors: Commerce One, Many Markets. One Source., Global Trading Web, BuySite, MarketSite, Global Trading Platform, Common Business Library, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Development Kit, XML Commerce Connector, MarketView, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. All other company, product, and brand names are trademarks of their respective owners. |
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