WEGMANS FOOD MARKETS CHOOSES AGRIBUYS
End-to-end supply-chain integration through Agribuys
for perishable procurement
TORRANCE, CALIF, (January 31, 2002) – Agribuys, the leading supply chain integrator for the global food industry, today announced the adoption of its perishables trading platform by Wegmans Food Markets Inc. of Rochester, N.Y. Wegmans has long set the standard in the grocery retail world for innovation and the adoption of cutting-edge technology.
“We believe that the Internet represents a significant opportunity to add value in the perishables space and we see Agribuys as the right partner to help deliver this value,” said Mike Bargmann, Wegmans’ senior vice president of distribution and business-to-business executive sponsor.
The adoption of the Agribuys technology follows an extensive pilot program and is a part of Wegmans’ accelerating e-commerce strategy. The project will begin in the produce area and will be implemented in phases that will ensure end-to-end compatibility with existing and future back-end systems.
“This partnership expands Agribuys’ capability to electronically link the entire supply chain end to end. The technology will generate significant efficiencies, and will enable closer collaboration between Wegmans and its supplier partners,” said Marina Kotsianas, Agribuys’ CEO and chairman. “We applaud Wegmans in its continuous effort to raise the bar in the grocery industry and are delighted to be chosen as a technology partner.”
About Agribuys
Agribuys is the premier supply-chain integrator for the global food industry.
Agribuys offers Internet-based solutions for demand planning and management, procurement, logistics, receiving and payment. These solutions improve the way organizations carry out transactions, use real-time information to make decisions, and build relationships with their supply-chain partners. The Agribuys Online Marketplace provides a global hub that is optimized for trading perishable foods. Based in California, with offices in Australia, Asia, Canada, and Europe, Agribuys is rapidly expanding to further broaden its global procurement platform. The company is backed by Internet Capital Group (NASDAQ: ICGE). Its strategic partners include the WorldWide Retail Exchange (WWRE), the premier Internet-based business-to-business (B2B) exchange for retailers and their suppliers. The WWRE currently has 56 members with combined sales of U.S. $820 billion. For more information, visit the company’s website at www.agribuys.com or call 877.499.3052.
About Wegmans Food Markets
Wegmans Food Markets, Inc. is a 62-store supermarket chain with stores in New York, Pennsylvania, and New Jersey. The family-owned company was founded in 1916. Wegmans is recognized as an industry leader, an innovator, and is known for its strong commitment to the communities where it operates stores. It has been listed among Fortune magazine’s “100 Best Companies To Work For in America” for five consecutive years.
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Contatcs:
Agribuys USA
Lisa Osborne
(310) 899-3370
LOsborne@youngcompany.com
Agribuys USA
Sid Valluri
(310) 944-9655
sid.valluri@agribuys.com
Wegmans Food Markets
Jo Natale
(716) 328-2550, ext. 5915
JMNatale@Wegmans.com
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