Orbis Online Signs Letter of Intent with Leading Chinese Energy Provider.Business Editors & Energy/High-Tech Writers SAN ANTONIO--(BUSINESS WIRE)--Feb. 6, 2001 Orbis Online, a leading multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. e-marketplace, announced Tuesday that it has signed a letter of intent with the Tongda Energy Corporation of China (Tongda) to use Orbis Online's real-time reverse auction procurement solutions for two gas utility development projects in mainland China. Orbis Online will provide technology and services related to Tongda's procurement of gas utility pipeline components in their national gas utility pipeline rollout. The rollout is part of China's massive undertaking to urbanize a significant part of its vast territory. Upon the successful completion of the procurement transactions, Tongda will further explore the possibility of partnering with Orbis Online to provide business-to-government procurement and asset disposition services which could serve as a model to hundreds of government entities at the central and local levels in China. "This is an immense opportunity for our team," says Dr. James Strader, chairman and chief executive officer of Orbis Online. "We are eager to demonstrate our expertise and capabilities and show Tongda, as well as the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
Zhang Ji-ping, chairman and chief executive officer of the Tongda Energy Corporation, which maintains offices in Beijing, Shanghai and Guangzhan, commented, "It is exciting that we can take advantage of Orbis Online's cutting-edge technology to help us save considerable money and resources on our purchases, and remain a leader in China's urban energy area." About Tongda Energy Corporation Tongda is one of the two companies licensed by the central government in Beijing to provide gas utility services to hundreds of the country's small- and medium-sized cities under the provincial level. Tongda's strategic equity and business partners include China Guang Shun Shun In Chinese mythology, one of the three legendary emperors, along with Yao and Da Yu, of the golden age of antiquity (c. 23rd century BC), singled out by Confucius as models of integrity and virtue. Real Estate Development Company, China Oil and Gas Pipeline Bureau, Harbin Railway Bureau, Heng Tong tong 1 tr.v. tonged, tong·ing, tongs To seize, hold, or manipulate with tongs. [Back-formation from tongs. Group Company Ltd., Beiya Industry and Commerce Group Company Ltd., Shanghai Hatie Trade Co., Ltd., and many other leading companies in the oil and gas business. Since beginning its national gas pipeline rollout, Tongda has already completed four regional cities, of over 100 city projects planned for the China country expansion, including Yuhang City Gas Pipeline project and Shaoguan City Gas pipeline projects. About Orbis Online Orbis Online is a leading multilingual online auction community providing innovative e-commerce opportunities and solutions for businesses and individuals around the world. The Company's proprietary, Web-based e-commerce solutions enable Business-to-Business (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 ) transactions on the eOrbisB2B.com site, Business-to-Government (B2G (Business to Government) Refers to commercial enterprises selling to government agencies. See B2B. ) transactions on the eOrbisB2G.com site and Consumer-to-Consumer (C2C (Client to Client) An earlier term for peer-to-peer (P2P), in which one user communicates with another user without going through a server in between. See peer-to-peer. ) and Business-to-Consumer (B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. ) transactions on the eOrbis.com site. A privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation , Orbis Online has a rapidly growing community of registered users, businesses and affiliates who enjoy the benefits of its many patent-pending online procurement and asset disposition initiatives. For more information on Orbis Online, please visit our Web sites at www.eOrbisB2B.com, www.eOrbisB2G.com and www.eOrbis.com or call 877/580-8949. |
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