Former Senior Clinton Administration Official Spearheads Company's Efforts
To Expand Public Sector Business Globally
PITTSBURGH, May 30 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT), the
original and world's leading B2B eMarketplace, today announced that it has
named former senior Clinton administration official Ted Carter Director of
Public Sector. In his role, Mr. Carter will spearhead FreeMarkets' efforts to
expand its public sector business nationally and internationally.
Mr. Carter, 34, comes to FreeMarkets from the United States Department of
the Treasury, where he served as Deputy Assistant Secretary, Management
Operations. In this role, Mr. Carter was responsible for, among other things,
policy oversight of the Department's procurement.
Prior to joining the Treasury Department, Mr. Carter was the Deputy
Campaign Manager and Chief Operating Officer for the Clinton/Gore 1996
National Reelection Campaign. Before joining the Clinton/Gore campaign,
Mr. Carter worked as Assistant to the City Administrator of the Government of
the District of Columbia and as Director of Legislative Affairs to the Deputy
Mayor for Finance and Economic Development for the City of New York. Mr.
Carter has also served as the Associate Manager of Legislative Affairs for the
New York Public Library and Senior Adviser to the Business Administrator for
the City of Newark. He began his career as an intelligence analyst with the
Central Intelligence Agency.
Mr. Carter holds a B.S. in Foreign Service from Georgetown University and
a Master's in Public Administration from The American University.
"We are extremely excited about the deep experience and track record of
outstanding public sector service that Ted brings to FreeMarkets," said Dave
McCormick, vice president of public sector business for FreeMarkets. "Ted's
experience, management skills and leadership will prove invaluable as we move
forward with efforts to strengthen and expand our presence in the public
sector."
FreeMarkets is currently serving a number of state and federal entities,
including the Commonwealth of Pennsylvania, the United States Postal Service
and the United States Navy.
"FreeMarkets pioneered the concept of eMarketplaces in the private sector
and is recognized globally as the leader in its space," said Mr. Carter. "I'm
excited about the opportunity to help expand the use of this concept in the
public sector and to help define a new environment for producing better
business results and value for public entities in core business areas like
procurement."
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. Through an alliance with American Management Systems,
Inc., FreeMarkets delivers best-of-breed online auction and market making
solutions that enable public sector procurement professionals to make market-
based buying decisions for commodities and services. FreeMarkets' 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 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.
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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