CoreMarkets Selects VerticalNet Solutions' eMarketplace Suite To Power Its Global Marketplace of Raw Materials.Business Editors/Hi-Tech Writers NEW YORK--(BUSINESS WIRE)--Sept. 19, 2000 CoreMarkets, the premier global online marketplace of raw materials for the steel industry, announced today that it has entered into a strategic relationship with VerticalNet Solutions, an innovator in building open digital marketplaces, and a division of VerticalNet, Inc. (Nasdaq:VERT), to develop its next generation trading platform for global trading of raw materials. "CoreMarkets' strategic relationship with VerticalNet Solutions will allow us to deliver a highly efficient, robust solution to our marketplace," says Howard Feldman, 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 CoreMarkets. "VerticalNet eMarketplace Suite(TM) allows our users to search and transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting on multiple attributes, other than simply on price, and to match relevant buyers and sellers in real time." eMarketplace Suite is a flexible transaction solution uniquely developed for building open digital marketplaces focused on the procurement of direct goods. "With this matching platform at its heart, CoreMarkets is positioned to greatly improve the efficiency of trading raw materials and to drive liquidity in our online exchange," says Feldman. "CoreMarkets is ahead of the curve in delivering a 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 digital marketplace solution to answer the evolving market need within the metals industry," says Zev Laderman, president and CEO of VerticalNet Solutions. "We believe that the combination of our leading transaction platform and CoreMarkets' industry expertise will deliver a commanding industrial online marketplace." CoreMarkets, www.coremarkets.com, is an online commodities exchange that provides an innovative, secure and efficient way to manage worldwide buying and selling of industrial metals. It brings together producers, consumers, and trade service providers for a comprehensive e-commerce solution for the metals industry. The site also provides information on the shipping, financing, insurance, risk management and warehousing of these materials. About VerticalNet Solutions VerticalNet Solutions delivers comprehensive open digital marketplace solutions to industry alliances, global 2000 enterprises, Net market makers, VerticalNet Markets, and VerticalNet Exchanges. VerticalNet Solutions combines existing resources of VerticalNet technology groups and recent acquisitions to form a single technology group dedicated to selling and delivering the most comprehensive product suite and services available in the industry. This business unit is uniquely positioned to leverage the experience of VerticalNet Markets and Exchanges as owners and operators of trading communities in order to deliver proven, tested end-to-end solutions (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. to customers. Headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] , VerticalNet Solutions can be reached at www.verticalnetsolutions.com or 415/995-2080. About VerticalNet, Inc. VerticalNet, Inc. (www.verticalnet.com) provides end-to-end e-commerce solutions targeted at distinct business segments through three strategic business units: VerticalNet Markets owns and operates 57 industry-specific marketplaces providing commerce, community and content in a hosted environment; VerticalNet Exchanges focuses on direct material open and spot markets; and VerticalNet Solutions builds digital marketplaces for global 2000 customers and neutral Net market makers. VerticalNet International leverages the Company's three strategic business units to create global Internet B2B marketplaces, offering products and services internationally and partnering with companies that have strong local presence and domain expertise. VerticalNet and NECX are registered trademarks and/or trademarks of Vert Tech LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or other countries. About CoreMarkets CoreMarkets is the world's leading online digital marketplace for the international trading of raw materials for the steel industry. Unlike simple business-to-business industry Web sites, CoreMarkets delivers a neutral, non-aligned trading environment, one designed to extend the reach of all participants by providing frictionless access to trading information. In addition to buying and selling, CoreMarkets (www.coremarkets.com) offers a complete complement of trade services, including financing, risk management, insurance, freight forwarding and warehousing. The company, with offices in China, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. and Israel, is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , and supports strategic partnerships with many of the industries leading participants. For more information about CoreMarkets, contact Garrett Allen or Tony DeFazio at 610/642-8253. This announcement contains 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. that involve risks and uncertainties, as well as statements that are preceded by, followed by or include the words "believes," "plans," "intends", "will," "expects," "anticipates," or similar expressions. For such statements, VerticalNet claims the protection of 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. for forward-looking statements contained in 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. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include those factors set forth in the VerticalNet's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999 and its quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2000, both of which have been filed with the SEC. VerticalNet undertakes no responsibility to publicly update the forward looking statements contained in this press release. |
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