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Tuesday September 5, 1:09 pm Eastern Time
Press Release
Commerce One Powers Trade Alliance E-Marketplace to $500 Million in Transactions on First Day of Operation
Joint Venture Between Sinar Mas and Nissho Iwai Corporation Goes Live with Commerce One in 30 Days
PLEASANTON, Calif.--(BUSINESS WIRE)--Sept. 5, 2000-- Commerce One, Inc. (Nasdaq:CMRC - news), the leader in global e-commerce solutions for business today announced that Trade Alliance, its global MarketSite partner in Singapore, has successfully launched its global e-marketplace. Trade Alliance, a $30 million joint venture between Sinar Mas, a major regional player in food, paper, and Nissho Iwai Corporation, one of the world`s largest trading companies, reported the successful completion of $500 million in transactions on August 17, 2000, the first day of operation.
Trade Alliance is initially offering two e-marketplaces, e-FoodAlliance and ePaperAlliance. e-Food Alliance is the premier marketplace for the food industry in Asia, bringing together buyers and sellers in the $500 billion in the global food industry. ePaperAlliance is the first business-to-business pulp and paper exchange in Asia, serving trading partners worldwide. Trade Alliance expects to launch more vertical trading marketplaces over the next few months and intends to expand its operations to 15 Asian countries including China and India. The company also expects to be profitable in the next 18 months.
``Our vision is to build a digital business that integrates seamlessly with traditional existing businesses. We seek partners that share our vision and are willing to invest efforts in successfully building and benefiting in this new economy,`` said Mr. Anthony Peake, CEO, Trade Alliance. ``We are partnering with large business groups and leading technology providers like Commerce One to deliver real sustainable, revenue generating business solutions.``
Trade Alliance will benefit from the respective strengths of The Sinar Mas Group and Nissho Iwai Corporation. The Sinar Mas Group is extending its e-business expertise to the food and paper industry via the e-marketplace. Similarly, Nissho Iwai Corporation`s extensive supply chain and operations management expertise will enable the e-marketplace to attract and support substantial trading volumes.
Trade Alliance is powered by Commerce One`s MarketSite Portal Solution that enables companies to transact business with anyone, anytime, anywhere. MarketSite enables trading partners to seamlessly collaborate, exchange business documents, and complete financial transactions online, which reduces overhead and increases ROI. In addition, MarketSite enables Trade Alliance to offer many Commerce One business services such as auctions and content management. Trading partners utilizing the Trade Alliance e-marketplace will be able to access buyers and sellers throughout the Global Trading Web, the largest online B2B trading community in the world.
``Commerce One together with Trade Alliance implement its e-marketplace in only 30 days, which provided a significant time-to-market advantage,`` said Mark Hoffman, chairman and CEO Commerce One. ``We believe that Trade Alliance will help Singapore and other Asian countries move beyond traditional forms of regional and global e-commerce to include new economy business practices. As a result, many Asian companies will soon be able to transact global business in Internet time.``
About Nissho Iwai Corporation
Nissho Iwai Corporation was established in 1928. With more than 6,000 employees worldwide working in 33 domestic and 154 overseas offices, the company is one of the largest general trading companies in the world. In 1999, Fortune Global 500 ranked Nissho Iwai No 20 in the world with its US$67 billion in sales turnover. As an international trader, the company takes on many roles such as importer, exporter and coordinator of global projects, which require long-term, complex negotiations. Further information is available at www.nisshoiwai.co.jp.
About Sinar Mas
An Asian business group with an estimated US$15 billion in assets, Sinar Mas has operations in Indonesia, China, India and Singapore. Significant Sinar Mas companies include Asia Pulp & Paper (NYSE:PAP - news), Asia`s largest non-Japanese pulp and paper producer, and Asia Food & Properties (SES:AFP) and Golden Agri Resources (SES:GAR), all headquartered in Singapore. Other major holdings include real estate investments in Singapore, China and Indonesia, and financial services in China and Indonesia.
About Commerce One
Commerce One is the leader in global e-commerce solutions for business. Through its products, portals and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web is the world`s largest business-to-business trading community. Comprised of many e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers and service providers worldwide. Further information on the company is available at: www.commerceone.com/.
About Trade Alliance
Trade Alliance(TM) is the Asian gateway to global eBusiness. It provides a reliable, neutral and trusted marketplace. Through its products, exchanges and value added services, Trade Alliance creates access top worldwide markets, enabling buyers and sellers around the world to trade in a barrier-free environment that creates opportunities for all trading partners to reach new markets, reduced transaction costs, benefit from better prices through higher market transparency, and access to more new markets. The Trade Alliance(TM) MarketSite also creates access for buyers and sellers to the Commerce One Global Trading Web, the world`s largest business-to-business trading community comprised of many open e-marketplaces.
Trade Alliance(TM) provides an entire gamut of services for all the marketplace trading partners including software, hardware, content management, e-procurement, e-logistics, e-payments, business development consulting and customer support. Trade Alliance(TM) is a company registered in the Cayman Islands. Operations are managed in Singapore through its subsidiary Lerolle Pte Ltd. More information is available at www.tradealliance.com
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