Hughes Network Systems Selects Vastera to Streamline European Exports and Improve Collaboration with Trading Partners.Business Editors/Hi-Tech Writers DULLES, Va.--(BUSINESS WIRE)--Feb. 20, 2002 Vastera, Inc. (Nasdaq: VAST), the leading provider of solutions for Global Trade Management (GTM See Good-this-Month order. ), today announced that Hughes Network Systems Hughes Network Systems, LLC (HNS), is a provider of broadband satellite network products for businesses and consumers. HNS pioneered the development of high-speed satellite Internet access services and IP-based networks with its original DirecPC service but which it now markets (HNS HNS Hughes Network Systems LLC HNS Hrvatski Nogometni Savez (Croatian Football Federation) HNS Head & Neck Surgery HNS Hughes Network Systems, Inc. ), the world's leading satellite network solutions provider, has signed an agreement to roll-out Vastera's TradeSphere Exporter solution in Europe. "We are constantly looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to improve service to our customers," said Ray Duncan, Supply Chain Manager HNS Europe. "By adopting a common global platform to automate export functions and share information more easily with our extended supply chain partners, we anticipate fewer issues associated with international shipments and quicker identification and resolution of those that do arise; ultimately resulting in better service to our customers." Hughes Network Systems manufacturers and distributes a variety of satellite communications products, including satellite dishes, DIRECTV delivery systems and advanced space platforms. Because many of its products enable secured distributed communications, the sales and distribution of many of HNS's products are controlled by government agencies tasked with protecting national security interests. Consequently, HNS must perform a variety of complex global trade tasks before it can export its products. If not executed efficiently and thoroughly, these tasks can delay shipments and potentially result in fines and penalties. Additionally, like most global companies, HNS uses a variety of partners to transport its goods internationally. Providing a common platform to share important shipping information among these extended trading partners is key to eliminating costly delays and improving customer service. "HNS is a company that recognizes the efficiencies of a common global system for trade," 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. "HNS has been using our TradeSphere solution successfully in the U.S. for several years, and will now realize its benefits in Europe, to the advantage of its customers and their own bottom lines." HNS will enter both sales and transfer orders directly into TradeSphere's Web-native front-end. TradeSphere will perform the country-specific regulatory compliance checks and then pass orders seamlessly to SAP for further order processing. At shipment time, TradeSphere will automatically generate the required international shipping documentation. As the goods move through the extended supply chain, TradeSphere will serve as the single platform for trading partners to update shipment status information. About Hughes Network Systems Hughes Network Systems, Inc. (HNS), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Hughes Electronics Corporation (HUGHES), is the world's largest provider of broadband satellite network solutions for businesses and consumers, with approximately 500,000 systems installed in more than 85 countries. HNS pioneered the development of high-speed satellite Internet access Satellite Internet services are used in locations where terrestrial Internet access is not available and in locations which move frequently. Internet access via satellite is available worldwide, including vessels at sea and mobile land vehicles. services, which it markets globally under the DirecPC(R) and DIRECWAY(R) brands, and is a major supplier of mobile satellite networks, including GSM-enabled portable handsets and Internet devices. For terrestrial access, it offers the comprehensive AIReach(R) family of broadband wireless See wireless broadband. , point-to-multipoint products. In addition, HNS is a leading manufacturer of DIRECTV (R) satellite television receivers, having shipped over 8 million units to date. Headquartered outside Washington, D.C. in Germantown, Maryland, USA, HNS maintains sales and support offices worldwide. The earnings of HUGHES, a unit of General Motors Corporation, are used to calculate the earnings per share attributable to the General Motors Class H common stock (NYSE NYSE See: New York Stock Exchange : GMH GMH General Motors Holden's ). To learn more about HNS, please visit http://www.hns.com. 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, 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, 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. For more information, please visit www.vastera.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. |
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