Future Electronics Goes Live with Next Generation of Vastera's TradeSphere; Leading Electronics Distributor to Roll-Out Solution Globally.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--July 23, 2001 Vastera, Inc. (Nasdaq:VAST), the leading provider of solutions for Global Trade Management, announced today that Future Electronics, one of the world's leading distributors of electronic components, has successfully implemented Vastera's TradeSphere Exporter(TM) Release 7 solution to optimize its distribution of electronics components from 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. . "We see our ability to effectively manage the complexities of global trade as a competitive advantage," said Guy Langevin, corporate vice president of worldwide operations for Future Electronics. "Future Electronics is acknowledged around the world for exceptional customer service. Vastera's solutions are helping us get products to our international customers more efficiently, and that's very important to us." Future Electronics is using Vastera's TradeSphere Exporter to perform trade compliance checks and generate international shipping documentation. By automating these functions, Future Electronics expects to shorten (audio, compression) Shorten - A form of lossless audio compression. cycle times, raise customer service levels and reduce logistics costs. The company has gone live with the TradeSphere Release 7 in the United States, and plans to roll the solution out in the United Kingdom, Singapore and Canada. "TradeSphere Release 7 is giving our clients the opportunity to deploy our solutions worldwide, even in areas where they may not have extensive technical infrastructure," said Mark Ferrer, President and COO (Cell Of Origin) See mobile positioning. of Vastera. "Added to the appeal of a Web-native architecture are many new capabilities such as Event Management and Logistics." About Vastera Vastera is the leading provider of solutions for Global Trade Management. Its solutions including software, trade management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects and 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 , 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, Microsoft, Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. Dairy Board and Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony . For more information, please visit www.vastera.com. About Future Electronics Future Electronics, a global leader in electronics distribution, ranks 3rd in component sales worldwide. Founded in 1968, the company has emerged as one of the most important entities in the electronics distribution industry and today, is recognized around the globe among the industry's most innovative organizations. This position is built upon Future's commitment to maintain close business partnerships with both suppliers and customers, coupled with the strength of its commercial and technical competencies through all stages of the design-production cycle. The company employs over 5,600 employees in 220 offices in 34 countries around the world. Future Electronics' web site can be accessed at www.FutureElectronics.com. This press release includes statements, which may constitute 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. 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. |
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