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FreeMarkets Announces Agreement with Dana Corporation

26 September 2000

FreeMarkets Announces Agreement with Dana Corporation

    PITTSBURGH--Sept. 26, 2000--FreeMarkets, Inc.

    Company gains further traction in automotive industry as leading
    Tier One manufacturer agrees to purchase goods and services
    through the FreeMarkets(R) B2B eMarketplace

    FreeMarkets, Inc. , the leading B2B eMarketplace, today announced that it has signed an agreement with the Dana Corporation , a global supplier to automotive manufacturers.
    Under the terms of the agreement, FreeMarkets will provide Dana with access to its B2B eMarketplace, which Dana will use as a platform to purchase goods and services for its operations around the world.
    "As a major provider to global automotive manufacturers with high standards for quality, it is critical that Dana make effective and efficient purchases of the direct materials that go into our products, as well as the indirect materials and services that fuel our operations," said Doug Grimm, director, global strategic sourcing, Dana. "FreeMarkets has a proven track record of delivering savings and reductions in sourcing process time to large purchasing organizations, and we look forward to leveraging their technology platform, sourcing information and services to benefit our operations and our customers."
    "Dana is a world-class Tier One automotive supplier that is undertaking bold e-commerce initiatives that will enhance their ability to deliver the quality products they have become known for," said Kent Parker, vice president and general manager of automotive business at FreeMarkets. "We are pleased that they have chosen our B2B eMarketplace as a platform for sourcing, and we look forward to working with them to create savings and efficiencies that will benefit Dana's operations and customers."