SAPMarkets, Meet World Trade and Affiliates Bring Together Customers and Suppliers in Asia.Business Editors/Technology Writers SHANGHAI, China & SINGAPORE--(BUSINESS WIRE)--July 31, 2001 Meet World Trade, MeetChina.com, EC 21, dba MeetKorea.com, Meet World Trade (Thailand) and SAPMarkets Offer Customers Access to More Than 30,000 Suppliers in Asia SAPMarkets, Inc., the exchange company of the SAP group, today announced an agreement with Meet World Trade, Inc., and its affiliates to provide SAPMarkets' exchange customers with access to over 30,000 suppliers in the Asia Pacific region. In addition to Meet World Trade, the agreement includes MeetChina.com, EC 21, Inc., doing business as MeetKorea.com, and Meet World Trade (Thailand). Meet World Trade and its affiliates constitute a leading online network for sourcing suppliers throughout Asia and offer one of the most comprehensive selections of supplier content in the region. Meet World Trade estimates that it costs manufacturers an average of $70,000 (U.S.) to source and qualify a new supplier in the emerging economies of Asia. Meet World Trade will dramatically reduce those costs for SAPMarkets' exchange customers and help them expand their system of suppliers. "Meet World Trade and its network affiliates are pleased to be working with SAPMarkets," said Leonard Cordiner, 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 Meet World Trade. "We look forward to our continued close cooperation to provide Internet-based strategic sourcing content and services to help global buyers identify high-quality suppliers and source more efficiently from Asia." The agreement with Meet World Trade marks TRADE MARKS. Signs, writings or tickets put upon manufactured goods, to distinguish them from others. 2. It seems at one time to have been thought that no man acquired a right in a particular mark or stamp. 2 Atk. 484. the beginning of SAPMarkets' supplier enablement Supplier Enablement is the process of electronically connecting suppliers (or other trading partners) to a company's supply chain. Supplier enablement is achieved when suppliers of goods and services are connected to a company's back-office systems to exchange critical business strategy in Asia. A key component of the SAPMarkets Partner Program is to bring together suppliers with buyers and exchanges worldwide. As a Key Partner in the SAPMarkets Partner Program, Meet World Trade will bring suppliers to SAPMarkets' exchange customers through the Meet World Trade supplier network. "SAPMarkets is experiencing a demand for its exchange technology from companies working in the Asia Pacific Region," said Zia Yusuf, managing director of SAPMarkets Asia Pacific. "As our customers build and plan out their exchange and procurement strategy, they will need access to high-quality and low-cost suppliers in this important region of the world. Our relationship with Meet World Trade will fulfill this need by providing our customers with access to a diverse range of suppliers." About Meet World Trade Meet World Trade is an online network of Asian Internet marketplaces See vertical portal and Web hub. that uses a combination of online and offline resources to help purchasing professionals source vendors in developing economies. Meet World Trade's strong local language Internet presence in China, Thailand, India and Korea, as well as its strong support staff in these countries, uniquely positions MWT MWT Maintenance of Wakefulness Test MWT MicroWave Technology Inc., (Fremont, CA) MWT Movable Weight Technology (Taylor Made Golf Company, Inc. to assist enterprises and SMEs to establish vendor networks in Asia in a compressed time frame. MWT's hybrid of online and offline resources is defining a new and better approach to sourcing from Asia. About SAPMarkets SAPMarkets is the exchange company of SAP (NYSE NYSE See: New York Stock Exchange :SAP) and delivers solutions that automate business processes across boundaries. Based in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif., SAPMarkets currently enables over 1,100 companies worldwide to use the Internet for greater agility, precision and profitability. SAPMarkets can be found at http://www.sapmarkets.com. SAPMarkets, Inc. is 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 SAP AG (company) SAP AG - (Systeme, Anwendungen, Produkte in der Datenverarbeitung - German for "Systems, Applications and Products in Data Processing") A company from Germany that sells the leading suite of client-server business software. The US branch is called SAP America. . Any statements contained in this press release that are not historical facts are 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. as defined in the U.S. 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. Words such as "believe," "estimate," "intend," "may," "will," "expect" and "project" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the SAP Annual Report on Form 20-F for 2000 filed with the SEC on March 28, 2001. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Copyright (c) 2001 SAPMarkets, Inc. SAPMarkets and Business Beyond Boundaries Beyond Boundaries is a documentary series produced by Diverse Bristol for BBC Two. Each series follows a team of physically disabled adventurers as they take on some of the thoughest expaditions on the Planet under the guidance of EX SAS Major Ken Hames. are trademarks of SAPMarkets, Inc. MarketSet and Enterprise Buyer are joint trademarks of SAPMarkets, Inc., and Commerce One Inc. Other product or service names mentioned herein are the trademarks of their respective owners. |
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