DENSO International America, Inc. Signs Global Trade Managed Services Agreement with Vastera.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--June 18, 2002 Vastera, Inc. (Nasdaq:VAST), the leading provider of solutions for Global Trade Management (GTM See Good-this-Month order. ), today announced that DENSO International America, Inc., the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. headquarters for Japan-based DENSO Corporation has signed an agreement with Vastera to manage aspects of its global trade operations. "We are excited to add another blue chip company like DENSO to our expanding list of automotive clients," said Mark Ferrer, president 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 Vastera. "Through our 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 platform, we expect to drive significant efficiency improvements within DENSO's global trade operations." DENSO, a leading global supplier of advanced technology, systems and components for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , serves all the world's major automakers. The North American DENSO group imports components into North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. from all over the world, for assembly into its systems, and for re-sale to its customers. "DENSO's ability to comply with trade regulations (i.e., accurate product classification, complete documentation, correct duty rates, timely shipment information, etc.)," said Michael Kummer, director of Finance at DENSO International America, "is critical to faster and more predictable Customs clearance times and necessary to support its customer's just-in-time manufacturing operations." The Customs Trade Partnership Against Terrorism The Customs-Trade Partnership Against Terrorism (C-TPAT) is a voluntary supply chain security program led by U.S. Customs and Border Protection (CBP) and focused on improving the security of private companies' supply chains with respect to terrorism. (C-TPAT C-TPAT Customs-Trade Partnership Against Terrorism (US government) ) program, recently introduced by U.S. Customs, is yet another reason for companies to improve the efficiency of their global trade operations. Under C-TPAT, those companies that comply with the program's guidelines will be granted the `fast track' through U.S. Customs, according to Customs Commissioner Robert Bonner, while shipments from companies that do not comply with the program's guidelines will be subjected to greater scrutiny. About Vastera Vastera is the leading provider of solutions for Global Trade Management. Its solutions including software, trade management consulting and managed services, are designed to streamline global business. The foundation of these solutions is Global eContent, a comprehensive, rules-based application of country-specific trade and regulatory content, which is 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 operational costs. Vastera clients include: Ford, Visteon, Alcatel, Dell, Fonterra and Nortel Networks. For more information, please visit www.vastera.com. About DENSO DENSO Corporation, a leading global automotive supplier of advanced technology, systems and components, employs 87,000 people in 30 countries. Global consolidated sales for the fiscal year ended March 31, 2002 totaled $18.1 billion. In North America, DENSO employs 14,000 people at 23 locations. Consolidated sales for the Americas (North America, Central America and South America) totaled $4.8 billion for the fiscal year ended March 31. 2002. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges Nagoya Stock Exchange Established after World War II, one of the three major securities markets in Japan. in Japan. For more information, see www.globaldenso.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