Miracom Signs Deal With Rick Moradian And Condor Logistics
5 February 1999
Miracom Signs Deal With Rick Moradian And Condor Logistics for Development of 'theparts.com'
Moradian Instrumental in Critical Auto Parts Logistics for Toyota U.S.
Assembly Plant
Moradian, CEO of Condor Logistics, Also Added to Miracom Advisory Board
ALTAMONTE SPRINGS, Fla., Feb. 5 -- Miracom Corporation
(OTC Bulletin Board: MIRM), a provider of Internet-based business and on-line
buying solutions, today announced that it has contracted with Condor Logistics
and Rick Moradian for extensive logistical and analytical work supporting the
short and long term supply chain related needs of "theparts.com(TM),"
Miracom's e-commerce website that is expected by the Company to revolutionize
the sale of auto parts. The launch of theparts.com is expected to occur in
the third quarter of 1999. The terms of the contract specify that Mr.
Moradian and Condor Logistics will provide logistics support exclusively to
Miracom, and will not perform similar work for any other Internet auto parts
vendor. The Company also announced that Mr. Moradian has been appointed to
Miracom's advisory board.
"The appointment of Rick is an important step in completing Miracom's
'theparts.com' e-commerce site. He has the necessary background and
expertise, which includes critical auto parts logistics for Toyota's U.S.
assembly plant, to help us launch 'theparts.com,'" said Shawn D. Lucas,
Chairman and Co-CEO. "Through this medium, Miracom is well-positioned to
emerge as the dominant means by which auto parts are sold and distributed
worldwide. We are currently negotiating agreements with major parts
distributors and locators for the distribution and sale of auto parts and
other related products and information over the Internet. These arrangements
will allow 'theparts.com' to transfer on-line orders directly to our source
network for immediate shipment, or for parts to be shipped out of centralized
warehouses. Unlike other automotive parts suppliers, which are constrained by
limited storage space and a limited ability to finance large inventories,
Miracom's 'theparts.com' has virtually unlimited shelf space and parts
selection."
In addition to his efforts at Toyota's U.S. plant, Mr. Moradian's
experience also includes performing the logistical design and operation
supporting the Toyota-GM Nummi plant and Ford Motor Company's operations in
Hermosillo, Mexico, with respect to inbound and outbound parts and more
recently with eToys.com regarding a detailed analysis of their outbound
distribution model.
Mr. Moradian was also instrumental for optimizing the supply chain
activities for William-Sonoma, the Asia Pacific division of Kraft-General
Foods, Hasbro and Alpine Electronics of America. Condor Logistic's
responsibilities for "theparts.com" will include:
-- Global logistics strategy development
-- Distribution mode and route optimization
-- Parcel distribution and segmentation analysis
-- Supply chain process mapping and design
-- Reverse logistics modeling and implementation
"I am very excited about our partnership with 'theparts.com,'" said Rick
Moradian, CEO of Condor Logistics. "Utilizing a comprehensive approach
methodology to understanding 'theparts.com's' supply chain needs will
eliminate bottlenecks associated with the anticipated on-line demand of
auto-parts. With the tremendous growth of the on-line e-commerce industry, a
key factor to the success and profitability of any e-commerce site will rely
on the operational excellence of the organization. With our innovative
approach to 'theparts.com's' global distribution model, we expect to
revolutionize the fulfillment of the sale of auto parts on-line."
Miracom Corporation is a provider of Internet-based business and online
buying solutions. Miracom has created and developed web-enabled products such
as Miratouch(TM), a proprietary system for the provision of online research
and real-time data gathering services; Epolicy(TM), a web-enabled back-end
software for insurance companies; QuickQuote 2000(TM), the front end
compliment to Epolicy(TM), is a web-enabled insurance quoting solution and
"theparts.com(TM)" an e-commerce shopping and business to business solution
that is geared to revolutionize the parts industry. The launch of
theparts.com is expected to occur in the third quarter of 1999.
(This news release includes statements that may constitute forward-looking
statements pursuant to the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Although Miracom Corporation believes the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its expectations will be
met. Factors that could cause actual results to differ materially from
Miracom's expectations include the success of Mr. Moradian and Condor
Logistics in completing their assignment for Miracom, the operational
performance of theparts.com, Miracom's ability to integrate its acquisitions,
industry conditions, demand for its products as well as other risks.)