Schedule Clears Way for Government Procurement Professionals to Use
FreeMarkets(R) B2B eMarketplace
PITTSBURGH, April 26 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT), the
world's original and leading B2B eMarketplace, today announced that it has
been added to the Government Services Administration (GSA) IT Schedule for
federal procurement.
Now, government procurement professionals can access the FreeMarkets(R)
B2B eMarketplace at set terms and pricing through existing contracts, and
quickly begin using FreeMarkets to identify savings on the goods and services
they purchase. To date, FreeMarkets has conducted online auctions for over
$5 billion worth of goods and services and created potential estimated savings
of more than $1 billion for its commercial and public sector customers.
"The federal government is increasingly turning to the FreeMarkets B2B
eMarketplace to achieve measurable savings on the incredible volume of goods
and services they purchase," said Dave McCormick, vice president of public
sector business for FreeMarkets. "The inclusion of FreeMarkets on the GSA IT
schedule will make it significantly easier for federal agencies to
dramatically reduce the cost of the goods and services they purchase, while
improving the efficiency of the procurement processes."
FreeMarkets is currently serving a number of federal entities and
government agencies through its B2B eMarketplace, including the United States
Postal Service and Commonwealth of Pennsylvania.
About FreeMarkets
FreeMarkets is the original and world's leading B2B eMarketplace, with
online markets for industrial parts, raw materials, commodities and services.
The Company has executed online auctions for over $5.4 billion of purchase
orders to date, and created potential estimated savings of more than
$1 billion for its customers. Since 1995, FreeMarkets has created online
auctions for products in more than 100 supply verticals, including injection
molded plastic parts, commercial machinings, metal fabrications, chemicals,
printed circuit boards, corrugated packaging and coal. More than 4,000
suppliers from over 50 countries have participated in the FreeMarkets B2B
eMarketplace. FreeMarkets is the only B2B eMarketplace that includes industry-
leading 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 customers include Visteon
Corporation, 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 FreeMarkets'
B2B eMarketplace, the competitive nature of the market for business-to-
business online auction services, FreeMarkets' ability to retain and increase
revenue from existing customers and to attract new customers, FreeMarkets'
ability to attract and retain qualified personnel, the size of the market for
used equipment and surplus inventory, the demand for online auction and other
asset recovery services by buyers and suppliers, and FreeMarkets' ability to
integrate acquisitions. Risk factors are described in more detail in
FreeMarkets' filings with the Securities and Exchange Commission.
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Karen Kovatch, Senior Manager, Corporate
Communications of FreeMarkets, 412-297-8767,
kkovatch@freemarkets.com
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