FreeMarkets, Inc. (Nasdaq:FMKT – news), the leading B2B eMarketplace, today announced that Visteon Corporation (NYSE:VC – news), a leading consumer-focused, technology-driven automotive systems corporation, has sourced contracts for more than $390 million in goods through the FreeMarkets® B2B eMarketplace to date. Leveraging FreeMarkets’ industry-leading technology platform, unparalleled sourcing information, market making services and global database of suppliers, Visteon has saved millions on a wide range of goods sourced by its operations in the United States, Europe, India and South America.
Visteon has been using Fr>eeMarkets as a platform for sourcing goods and services
for its global operations since April. In June, the companies announced a five-year
"Visteon is not only a leader in the automotive systems industry, but
an innovator in the use of e-sourcing solutions that can enhance the efficiency
of its world-class operations,” said Kent Parker, vice president and general
manager of automotive business at FreeMarkets. "We are very pleased to
be leveraging our experience creating successful eMarkets for customers in the
automotive industry to help Visteon source complex goods and deliver results
to its operations worldwide.”
FreeMarkets has been serving customers in the automotive industry since 1997.
In addition to Visteon, more than 16 automotive companies are currently using
the FreeMarkets B2B eMarketplace to source goods and services, including: Dana
Corp., Delphi Automotive, Eaton Corp., International, Magneti Marelli, Pilkington
PLC and SPX Corp.
FreeMarkets is the leading B2B eMarketplace. FreeMarkets combines its industry-leading
technology platform with unparalleled sourcing information and world-class services
to deliver huge savings to customers. FreeMarkets has executed over 6,800 online
auctions for more than $10.5 billion worth of goods and services to date, and
created estimated savings of nearly $2.0 billion for its customers. The FreeMarkets
B2B eMarketplace enables buying organizations to source products from more than
150 supply verticals. More than 7,000 suppliers from over 55 countries have
participated in the FreeMarkets B2B eMarketplace. The Company also operates
FreeMarkets Asset Exchange, the leading B2B eMarketplace for surplus assets
and inventory. FreeMarkets can be found on the Web at www.freemarkets.com.
FreeMarkets is a registered trademark of FreeMarkets, Inc.