Brewing and Entertainment Organization to Purchase Goods and Services Through
The FreeMarkets(R) B2B eMarketplace
PITTSBURGH, May 11 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT), the
world's original and leading B2B eMarketplace, today announced that it has
signed an agreement with Anheuser-Busch Companies, Inc. (NYSE: BUD), parent
company of the world's largest brewing organization and one of the nation's
largest theme park operators. Under the agreement, Anheuser-Busch will use
the FreeMarkets B2B eMarketplace to purchase certain goods and services for
its operations nationwide. The specific goods and services to be purchased
have yet to be determined. Terms of the agreement were not disclosed.
"We are pleased that Anheuser-Busch has chosen to use our B2B eMarketplace
to purchase goods and services for their operations across the United States,"
said Dave McCormick, vice president for public sector, consumer and packaged
goods business at FreeMarkets. "We look forward to working with them to
deliver results that will benefit their organization and its customers."
About Anheuser-Busch
Anheuser-Busch Companies, Inc.'s operations and resources are focused on
beer, adventure park entertainment and packaging. Anheuser-Busch subsidiaries
include the world's largest brewing organization, Anheuser-Busch, Inc., the
brewer of some 30 beer brands, including Budweiser and Bud Light, the world's
largest-selling beers. Other subsidiaries include one of the nation's largest
theme park operators and one of the country's largest manufacturers of
aluminum beverage containers. Other interests range from real estate
development to creative services.
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'
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 attract new clients,
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.
For more information 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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