Parts.com to Open European Headquarters
306 New Dealerships Join Supplier Network in USA
SANFORD, Fla., Feb. 1 Parts.com, Inc. (OTC Bulletin Board: MIRM), a marketplace and software
solutions provider for the automotive parts industry, today announced that it
will be opening an office in Europe, either in France or Germany during Q1,
2001. The Company also reports that it added 306 new dealerships to its
growing distribution network here in the United States, which has resulted in
over 1700 new dealerships added since December 18, 2000.
Parts.com's extensive research of the European market over the past year
has provided for a solid basis which will result in a number of major
strategic alliances, as in the case of Cap Gemini Ernst Young. The European
market represents a natural extension for the TradeMotion suite of technology
solutions. The high level interest and in a number of instances, mature stage
of negotiations presently require parts.com to commit to an official presence
as soon as possible. Parts.com anticipates definitive announcements and
details regarding European programs forthcoming.
Parts.com North American Dealer Network Climbs to Over 2300
The parts.com North American Dealer Network [NADN] continues to expand its
distribution network here in the United States with the addition of 306 new
dealer franchises in the past ten days. The new dealership lines added
include: 81 Chevrolet, Pontiac, GMC, Buick, Oldsmobile and Cadillac
dealerships; 47 Chrysler/Plymouth, Dodge and Jeep dealerships; 38 Ford,
Lincoln, Mercury dealerships; 137 import dealerships and 3 Saturn dealerships.
Since the GM, Daimler Chrysler, Ford and Bell & Howell announcement in
December, parts.com has added more than 1,700 new dealerships to its network
of suppliers.
"Parts.com continues to add dealerships to the NADN's rapidly growing
distribution community and we anticipate an average of 600 to 1,000 new
dealers per month to sign up for TradeMotion Solutions through the first half
of 2001," stated Shawn D. Lucas, CEO and President. "Our goals for first
quarter are simple; consistently increase distribution; increase the volume of
OEM parts order flow to our dealer partners; and increase the adaptation of
our Direct2DMS localized and national parts locating system. I am pleased to
report that we are accomplishing all three of these goals, and this will only
increase order flow and stickiness to our backend solution," stated Mr. Lucas.
"After deliberating with the parts.com executive management team and
assessing the value propositions regarding the upcoming NADA convention in Las
Vegas, we unanimously agreed that the interests of our shareholders would be
better stewarded by focusing on the emerging opportunities in Europe," stated
Mr. Lucas. "Parts.com, in December 1999, committed to a major presence at the
NADA at a time when we were receiving subscription fees from our dealer
suppliers. Since that time parts.com has removed all economic barriers, by
offering TradeMotion Solutions as a free 12-month trial to those same
suppliers. In light of our new marketing campaign, we simply couldn't justify
the ROI to our shareholders," continued Lucas.
About Parts.com
Parts.com, based in Sanford, Florida, provides business-to-business
e-commerce software solutions for the auto parts industry and other verticals.
Parts.com's TradeMotion Solutions create value for participants throughout the
supply chain, including manufacturers, distributors, dealerships, collision
repair shops, garages, recyclers and insurance companies as a result of its
unique, direct business model which offers a number of efficiencies and
opportunities throughout the supply chain.
This announcement contains "forward looking statements." Words
"anticipate," "believe," "estimate," "expect," and other similar expressions
as they relate to the Company and its management are intended to identify such
forward-looking statements. Although the Company and its management believe
that the statements contained in this announcement are reasonable, it can give
no assurances that such statements will prove correct. Factors that could
affect the occurrence of events or results discussed herein are included with
those mentioned in the Company's filings with the Securities and Exchange
Commission. GM, Daimler Chrysler, Ford and Bell & Howell are registered
Trademarks.