Leading Chinese Department Store Chain and Auto Parts Supplier Sign Up With Retek and MAI Exchange.com; First Customers Join Newly Formed Asian Exchange
21 September 2000
Leading Chinese Department Store Chain and Auto Parts Supplier Sign Up With Retek and MAI Exchange.com; First Customers Join Newly Formed Asian Exchange
MINNEAPOLIS, Sept. 21 Retail applications leader
Retek Inc. and MultiAsia, Inc. today announced the first
customers for their newly formed electronic exchange that serves Asian
retailers. The new customers are department store operator, Beijing Sanhe
Commercial Affairs Develop Co., Ltd. and auto parts provider, Beijing Cexin
Investment Consulting Co., Ltd. Terms of the agreement were not disclosed.
The new retail exchange will automate the end-to-end processes for
sourcing, procurement, logistics, and payments in China's domestic marketplace
and also for retailers in North America and Europe who are sourcing product
out of China and other Asian countries.
"We are thrilled to have two important new customers representing very
different segments for MAI Exchange.com," said Robert Ainslie, CEO, MultiAsia,
Inc. "Both have the vision to reach the world by basing their business on MAI
Exchange.com. This news is especially promising in view of this week's
approval by the U.S. Senate to permanently normalize trade ties with China."
Beijing Sanhe Commercial Affairs Develop Co., Ltd. operates 10 department
stores located in various major cities in China and plans to expand to
20 stores during the next year.
Beijing Cexin Investment Consulting Co., Ltd. was established by Beijing
University of Aeronautics and Astronautics, and China Aerospace Automotive
Industry Group Corporation for the purpose of establishing and enforcing
quality control standards in the automotive and aeronautics industry. While
the Chinese government has elected not to be a major manufacturer of
automobiles, it does have the goal of becoming a major global supplier of
automotive parts. Cexin has been awarded a contract by a US auto parts
retailer with approximately 1,000 retail outlets.
"Retek is delighted to see MAI Exchange take off so quickly with two such
important customers," said Jim Mattecheck, Senior Vice President of Business
Development for Retek. "Today's announcement is a validation of our global
strategy. The combination of MAI and Retek provides an excellent value
proposition for the entire retail supply chain."
About MAI Exchange, Inc.
MAI Exchange, Inc. is a consortium of Chinese political, economic,
manufacturing, and retail partners along with retail applications leader,
Retek. The consortium members include the China Federation of Industrial
Economics, the National Integrated Company of Hualian Commercial Building,
Ltd., China Commercial Group, SumStar Group Corp., Multiple International
Investment Co., Ltd., Beijing Sanhe Commercial Affairs Develop Co., Ltd., and
Pacific Asia Corporation.
About Retek Inc.
Retek Inc. delivers high capacity, full function business infrastructure
exclusively for the changing world of retail.
Retek's solutions deliver improved decision-making capabilities and
operational efficiencies by enabling supplier network orchestration,
multi-channel selling, and retail CRM. Retek solutions are available on
client platforms, through retail.com -- Retek's Marketplace for the Retail
Community -- and via electronic exchanges operating Retek's Retail Server.
Retek's customers include A&P, AnnTaylor, Brooks Brothers, Family Dollar
Stores, Kohl's Department Stores, Selfridges, Eckerd Corp., The Home Shopping
Network, Tesco, and Best Buy.
For more information, visit Retek's web site at http://www.retek.com or
call 877-362-2532. Retek can be contacted in Europe at +44 20 7872 5795.
Trademarks
Retek and retail.com are trademarks of Retek Inc. Other names may be
trademarks of their respective owners.
Forward-looking statements contained in this press release are made under
the Safe Harbor Provision of the Private Securities Litigation Reform Act of
1995. Any such statements are subject to risks and uncertainties that could
cause actual results to differ materially from those anticipated. Such
factors are described from time to time in the company's Annual Report on Form
10-K and other reports filed with the Securities and Exchange Commission.