VerticalNet Joins Forces With Universal Process Equipment and the Bethlehem Corporation.HORSHAM, PA--(BUSINESS WIRE)--Aug. 18, 1999-- New e-Commerce Venture to Increase Internet Process Equipment and Plants Sales VerticalNet, Inc. (Nasdaq:VERT), announced today an agreement with Universal Process Equipment (UPE UPE Upsilon Pi Epsilon (International Computer Science Honor Society) UPE Universal Primary Education UPE Unreimbursed Partnership Expenses UPE Universal Plasticx Exchange UPE User Plane Entity (3GPP) ) and the Bethlehem Corporation (AMEX AMEX See: American Stock Exchange :BET) to create an online marketplace for the sale of high-end process equipment and plants. Utilizing UPE's vast database of potential buyers, VerticalNet(R) will market a wide range of used and surplus high-end processing equipment supplied by UPE and its 13 group companies, as well as employ advanced auction, e-commerce and customer service technologies to facilitate sales. "Our agreement with UPE and the Bethlehem Corporation is an affirmation that VerticalNet intends to facilitate business-to-business transactions on a very large scale," said Mike Hagan, VerticalNet founder and executive vice president. "Under the Agreement, UPE and its affiliates are initially obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to provide our auction sites with inventory worth a value of at least $200,000,000." Ronald Gale, 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 UPE is enthusiastic about the alliance. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Gale, "VerticalNet is the right partner for us due to their competence and focus on the several trillion dollar per year Process Industries market. We feel that the pairing of UPE to the process industries (Food, Pharmaceutical, Chemical, Petrochemical and Environmental) through VerticalNet is a powerful combination which will bring real value to the marketplace." The purchasing of big-ticket capital equipment is not a "click and buy" event. However, steady growth of online sales over the past year has made it apparent that the Internet is fast becoming a favored medium to sell complex processing equipment. Tim Meell, director of e-commerce auctions for VerticalNet notes, "We will enhance the online sales process with real-time customer support technology, connecting potential buyers with UPE's experienced product consultants." As a result of the real-time connection, the sales cycle will be shortened in an expanded market for buying and selling industrial equipment. "The combination of VerticalNet's e-commerce capabilities and focused audience, plus UPE's product expertise will create a global marketplace in which both companies' businesses will thrive," said Meell. VerticalNet's alliance with UPE significantly enhances VerticalNet's e-commerce presence and further extends VerticalNet's position as the Internet's first mover in business-to-business communities of commerce. In conjunction with UPE, the world's leader in the sale of used and rebuilt process equipment and complete plants, the Bethlehem Corporation will be used as a center to develop technology and problem solving problem solving Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error. techniques to ensure that the sale of process equipment over the Internet becomes a routine occurrence. About VerticalNet VerticalNet, Inc. (www.verticalnet.com), is the Internet's premier owner and operator of business-to-business communities of commerce and content. The company currently operates 46 vertical communities grouped into ten sectors: ADVANCED TECHNOLOGIES: Aerospace Online, Computer OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and Online, Medical Design Online, Test and Measurement.com, Plant Automation.com, Embedded Technology.com; COMMUNICATIONS: Wireless Design Online, Photonics Online, Fiber Optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber Online, RF Globalnet.com, Premises Networks.com, Digital Broadcasting.com; ENVIRONMENTAL: Water Online, Pollution Online, Public Works Online, Solid Waste Online, Power Online, Pulp and Paper Online, Safety Online, ElectricNet.com; FOOD AND PACKAGING: Food Online, Food Ingredients Online, Beverage Online, Bakery Online, Meat and Poultry Online, Dairy Network.com, Packaging Network.com; FOODSERVICE/ HOSPITALITY: Foodservice Central.com ; HEALTHCARE: Hospital Network.com, Nurses.com and E-Dental.com; MANUFACTURING AND METALS: Machine Tools Online, Tooling Online; PROCESS: Chemical Online, Pharmaceutical Online, Hydrocarbon Online, Semiconductor Online, Paint and Coatings.com, Adhesives and Sealants.com, Oil and Gas Online, Oil Link.com; SCIENCE: Bioresearch bi·o·re·search n. Research in the biological sciences. Online, Drug Discovery Online, Laboratory Network.com; SERVICE: Property and Casualty.com , HR hub.com. About UPE UPE is the world's leader in the sale of used and rebuilt process equipment and complete plants. The Universal Group is comprised of Universal Process Equipment, Inc., Ayton Equipment Ltd., Sanborn Centrifuge centrifuge (sĕn`trəfy  j), device using centrifugal force to separate two or more substances of different density, e.g., two liquids or a liquid and a solid. Equipment, Inc., Universal Freeze Dryers, Inc., Universal Glasteel Equipment, Universal Industrial Gases, Inc., Universal Industrial Refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. , Inc., The Bethlehem Corporation, HS Process Technology Gmbh, MDL MDL - (Originally "Muddle"). C. Reeve, Carl Hewitt and Gerald Sussman, Dynamic Modeling Group, MIT ca. 1971. Intended as a successor to Lisp, and a possible base for Planner-70. Basically LISP 1.5 with data types and arrays. Erection Services AG, R. Simon Dryers Ltd., Buss-SMS Gmbh, Universal Turbomachinery Equipment and ZRE ZRE Zero Rate ErrorZRE Zentrale Recheneinheit (German: Central Processing Unit) ZRE Zero-Rate Exponent (Grodek) and is the only group of companies selling a full range of new, used, and rebuilt process equipment and plants. VerticalNet is the registered trademark of VerticalNet, Inc. All other names are trademarks and/or registered trademarks of their respective owners. |
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