Diebold Conducts Industrial Purchasing Through the FreeMarkets(R) B2B
eMarketplace
NORTH CANTON, Ohio and PITTSBURGH, June 5 /PRNewswire/ --
Diebold, Incorporated (NYSE: DBD), a global leader in automated teller
machines (ATMs) and other self-service and software solutions, and
FreeMarkets, Inc. (Nasdaq: FMKT), the world's original and leading B2B
eMarketplace, today announced a strategic relationship through which Diebold
will use the FreeMarkets B2B eMarketplace to purchase goods and services for
its operations.
Under the terms of the agreement, FreeMarkets will provide Diebold with
access to its proprietary online auction technology, technical operations,
industrial market-making services and global database of suppliers.
FreeMarkets will host online competitive bidding events in which only
qualified suppliers will be able to place bids on specific Diebold lots.
Bidders submit their proposed figures via the Internet and are able to update
them throughout the event. The supplier winning the contract will be notified
that they have won the contract.
"Our agreement with FreeMarkets complements our global procurement
strategy and strengthens our position as an innovator and leader in the use of
business-to-business e-commerce," explained Larry D. Ingram, vice president,
procurement and services for Diebold. "We believe using the FreeMarkets B2B
eMarketplace enables us to achieve significant cost reductions, streamline our
supply chain and increase efficiency while maintaining the high level of
quality we expect from our supply base."
According to FreeMarkets Chairman and CEO Glen T. Meakem, "We are looking
forward to assisting Diebold with their strategic cost reduction objectives
and are dedicated to helping the company extend its lead in purchasing by
providing access to our B2B eMarketplace."
About Diebold
Diebold, Incorporated is a global leader in providing integrated
self-service delivery systems and services. Founded in 1859, Diebold employs
more than 10,000 associates with representation in more than 75 countries
worldwide and headquarters in Canton, Ohio, USA. Diebold reported revenue of
$1.3 billion in 1999 and is publicly traded on the New York Stock Exchange
under the symbol "DBD." For more information, visit the company's Web site at
http://www.diebold.com.
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.
CONTACT: Mike Jacobsen, media, +1 330-490-3796, or jacobsm1@diebold.com,
or John Kristoff, investor, +1 330-490-5900, or kristoj@diebold.com, both of
Diebold; or Karen Kovatch of FreeMarkets, +1 412-297-8767, or
kkovatch@freemarkets.com
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Mike Jacobsen, media, +1 330-490-3796, or
jacobsm1@diebold.com, or John Kristoff, investor, +1
330-490-5900, or kristoj@diebold.com, both of Diebold; or Karen
Kovatch of FreeMarkets, +1 412-297-8767, or
kkovatch@freemarkets.com
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