PITTSBURGH, June 6 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT), the
world's leading B2B eMarketplace, today announced that it has signed an
agreement with American Airlines, a leading airline. Under the terms of the
agreement, American will test the FreeMarkets B2B eMarketplace, which to date,
has driven over $5.4 billion in commerce.
"American Airlines is a global leader in air transportation and conducts a
large volume of purchasing across a wide range of categories," said Glen
Meakem, chairman and CEO of FreeMarkets, Inc. "We are pleased that they are
choosing to use the FreeMarkets B2B eMarketplace for purchasing, and we are
committed to delivering measurable results that will benefit both American and
its customers around the globe."
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 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,
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 successfully 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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