EquipNet Direct to Implement Global Asset Management Services Program for Eastman Chemical Company.Business Editors BRAINTREE, Mass.--(BUSINESS WIRE)--May 21, 2001 EquipNet Direct will provide Idle Asset Optimization solutions exclusively for Eastman Chemical Company Eastman Chemical Company is a United States based chemical company, engaged in the manufacture and sale of chemicals, plastics and fibers. Eastman has 16 manufacturing sites in 10 countries, supplying its products throughout the world. plants in four continents EquipNet Direct, Inc., the leader in Idle in vain. - Chaucer. See also: Idle Asset Optimization(TM) solutions (www.EquipNetDirect.com), today announced an exclusive contract with Eastman Chemical Company to provide asset redeployment Asset Redeployment The strategic relocation of company assets in order to increase profitability. Notes: By redeploying assets, a company is restructuring itself in order to become more efficient and profitable. and recovery consulting services for the global company. Eastman, an e-commerce leader within the chemical industry, will be one of the first companies to implement EquipNet Direct's newly updated and world leading software, ARMS(TM) 3.0 (Asset Redeployment Management System), patent pending. Using EquipNet Direct's internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. , Eastman will be able to post, track, identify and redeploy re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. plant equipment for operations in at least ten countries, including 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. , The United Kingdom, Singapore, Malaysia, Mexico, Italy, Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. , and Belguim. EquipNet Direct will also manage the external sale of idle and surplus equipment through MarketPlace, their online equipment exchange. "The addition of Eastman as an EquipNet Direct client is another indication that there is a real need for innovative, proven internal redeployment re·de·ploy tr.v. re·de·ployed, re·de·ploy·ing, re·de·ploys 1. To move (military forces) from one combat zone to another. 2. services in the major manufacturing sector," said Dr. Michael Raymont, Chairman of EquipNet Direct. "We're looking forward to helping Eastman add to their bottom line by efficiently and methodically redeploying their idle assets on a global scale." "With the implementation of ARMS 3.0 and EquipNet Direct's consulting services, we will be able to maximize our internal resources," said Debbie Davis-Waltermire, director, WorldWide Indirect Material and Services at Eastman. "Our relationship with EquipNet Direct will help us to enhance our operational performance and allow us to continue to focus and invest in our core business objectives." With this signing, Eastman joins other industry leaders such as Novartis, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , Louisiana-Pacific, Nestle Canada and Inland Paperboard and Packaging, Inc. in the successful implementation of EquipNet Direct's Asset Redeployment Management System. EquipNet Direct offers a full range of idle asset optimization consulting solutions, including: -- The development of corporate-wide idle asset management strategies for Global 2000 manufacturers -- The delivery of customized solutions for individual plants -- Execution of these plans for customers through the delivery of technology, internal redeployment of idle assets, and the management and sale of surplus equipment/facilities using multiple sales channels designed to maximize financial returns. This agreement comes on the heels of EquipNet Direct hiring Martin Moore, formerly president of General Electric Energy Rentals, as President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . In other recent news, EquipNet Direct completed its first round financing, raising an additional $3.62 million this year, bringing the total proceeds raised to over $10 million since May 2000. EquipNet Direct EquipNet Direct, Inc., delivers idle asset optimization solutions to Global 2000 manufacturers helping them improve asset utilization, ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). , and cashflow. The company also helps small/medium sized enterprises purchase effectively and efficiently. EquipNet Direct offers innovative technology as well as comprehensive, end-to-end services across various industries. Industries include pharmaceuticals, chemicals, plastics, health and personal care, food & beverage, forest products, packaging, and warehousing. The management team includes seasoned pioneers in the industrial equipment and investment recovery arena, as well as eCommerce veterans. Visit EquipNet Direct's Web site at www.EquipNetDirect.com. About Eastman Chemical Company Headquartered in Kingsport, Tenn., Eastman Chemical Company manufactures and markets chemicals, fibers and plastics. An e-commerce leader within the chemical industry, Eastman employs approximately 15,000 people in more than 30 countries and had 2000 sales of $5.3 billion. Visit Eastman's Web site at www.eastman.com for further information about the company. |
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