R. Talley Goodson to Lead FreeMarkets Asian
Expansion from Offices in Hong Kong and Singapore
PITTSBURGH, March 2 /PRNewswire/ -- FreeMarkets, Inc.,
(Nasdaq: FMKT), the world's leading business-to-business online auction
marketplace, today announced the appointment of FreeMarkets executive
R. Talley Goodson as vice president of Asian Operations. The announcement
follows FreeMarkets' recent launch of operations in Asia with offices in Hong
Kong and Singapore.
"We have tremendous confidence in Talley and his abilities," said
FreeMarkets chairman and CEO Glen Meakem. "Talley has a unique and powerful
combination of market making, business development, Mandarin language skills
and formal education in Asian economics and culture. We are happy to have him
spearheading our offices in Hong Kong and Singapore and are confident he will
solidify our position in Asia."
Mr. Goodson joined FreeMarkets in April 1999 and has served in executive
roles including vice president of market making and vice president of strategy
and business development. Prior to joining FreeMarkets, Mr. Goodson was
employed at executive levels at McKinsey & Co., Goodson Chemical Corporation
and Crowell-Weedon & Co. He holds a BS in Mathematics from Brigham Young
University, an MA in East Asian Studies from the University of Pennsylvania
and an MBA from the Wharton School of the University of Pennsylvania.
"I am excited to lead FreeMarkets' Asian operations and see tremendous
opportunity to support both new and existing clients and suppliers,"
Mr. Goodson said. "Through our offices in Hong Kong and Singapore, we will
provide our multinational clients with on-the-ground access to leading
suppliers of industrial parts, raw materials, commodities and services. We
will also focus on providing industrial buyers based in China, Taiwan, Hong
Kong, Singapore, Korea, Australia and other Asian markets with access to our
industry-leading technology, technical operations, market making services and
global database of suppliers."
About FreeMarkets
FreeMarkets is the world's leading business-to-business online auction
marketplace, with active markets for industrial parts, raw materials,
commodities and services. The Company created online auctions for over
$2.7 billion worth of purchase orders in 1999 and nearly $1.0 billion worth of
purchase orders in 1998. Since 1995, FreeMarkets has created online auctions
for products in more than 70 supply verticals, including injection molded
plastic parts, commercial machinings, metal fabrications, chemicals, printed
circuit boards, corrugated packaging and coal. More than 3,000 suppliers from
over 45 countries have participated in FreeMarkets auctions. FreeMarkets
provides access to its online auction marketplace to industrial buyers and
suppliers. The FreeMarkets marketplace includes proprietary online auction
technology, technical operations, industrial market making services, access to
a global database of suppliers and supplier research, call center support to
buyers and suppliers in over 30 languages, and marketplace rules. The
Company's current clients include United Technologies Corporation, The Quaker
Oats Company, Owens Corning, Eaton Corporation, Emerson Electric Company,
FirstEnergy Corp., SmithKline Beecham plc, Navistar International and Delphi
Automotive Systems Corporation. FreeMarkets can be found on the Web at
http://www.freemarkets.com . FreeMarkets is a registered trademark of
FreeMarkets, Inc.
Forward looking statements
Statements in this press release that are not historical facts, including
those statements that refer to FreeMarkets' plans, prospects, expectations,
strategies, intentions, hopes and beliefs, are forward-looking statements.
These forward-looking statements are based on information available to
FreeMarkets today, and FreeMarkets assumes no obligation to update these
statements as circumstances change. There are risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements, including, without limitation, market acceptance of our online
auction marketplace, the competitive nature of the market for
business-to-business online auction services, FreeMarkets' ability to retain
and increase revenue from existing clients and to execute agreements with new
clients, and FreeMarkets' ability to attract and retain qualified personnel.
These and other risk factors are described in detail in FreeMarkets'
prospectus dated December 9, 1999, which is included as part of its
Registration Statement on Form S-1, filed with the Securities and Exchange
Commission.
CONTACT: Karen Kovatch of FreeMarkets, 412-297-8767, or
kkovatch@freemarkets.com
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Karen Kovatch of FreeMarkets, 412-297-8767,
or kkovatch@freemarkets.com
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