Ventro Corporation Announces Acquisition of Industria Solutions, Inc.
01-Aug-2001
Ventro™ Corporation (Nasdaq: VNTR), a provider of collaborative commerce solutions, announced today that it
has acquired certain assets of Industria Solutions, Inc., a provider of solutions for collaborative engineering, e-procurement, and collaborative project and
materials management for manufacturers, engineering, procurement and construction companies (EPCs), and suppliers in the process manufacturing
industries. In addition, key members of the Industria team have joined Ventro.
This acquisition enables Ventro to deliver collaborative commerce solutions more effectively to the process manufacturing industries, which include the oil
and gas industry, the refining industry, and the chemical industry. In the process manufacturing industries, construction and strategic maintenance
projects require coordinated interaction within and between companies. Ventro's solutions, enhanced through its recently announced acquisition of
NexPrise, Inc., will support this interaction and optimize the engineering design and procurement processes, allowing process manufacturers to dramatically
reduce time-to-operations.
"We are excited about leveraging the Industria acquisition to expand into the process manufacturing industries," said David Perry, CEO of Ventro. "Our
intended acquisition of NexPrise provides us with a mature solution for collaborative commerce, and the acquisition of Industria assets and the retention of
key Industria personnel provide us with a great platform for success in the process manufacturing industries."
The following members of the Industria team have joined Ventro to focus on the opportunity in the process manufacturing industries:
John Eichstaedt - Process Industry Marketing - a ten-year career with ExxonMobil where he filled a variety of managerial, financial, and plant reliability
and maintenance roles, most recently as Turnaround and Construction Department Head at the ExxonMobil Baton Rouge, Louisiana Refinery.
Douglas Kelly - Process Industry Sales - a 13-year career with E.I. DuPont de Nemours & Company and DuPont Canada, most recently as Director of
e-Commerce and Business Strategy at DuPont Automotive Finishes.
Robert Lewis - Process Industry Sales - a ten-year career with Asahi/America, an industrial equipment manufacturer and master distributor, where he
filled a variety of managerial, financial, sales and marketing roles, including Vice President and General Manager.
Robert Mullenger - Product Manager - a ten-year career with ExxonMobil where he filled a variety of managerial, financial, technical and operations
roles, most recently as Operations Supervisor at the ExxonMobil Baytown Refinery.
Alan Rodrigues - Process Industry Sales - a 19-year career with Chevron where he filled a broad range international business development, business
operations, supply and logistics, and project management roles, most recently as Director of Global Business.
David Wright - Process Industry Sales - an 18-year career in the process industries, including six years with Nalco/Exxon Energy channels working in
the refining industry as an area manager in the Pacific Northwest, and 12 years with Schlumberger's oilfield service group working internationally
throughout Asia and the Middle East.
Industria Solutions was formed in January, 2000 as a joint venture between Ventro, DuPont, IBM, and @Ventures, the venture capital division of CMGI,
Inc., to provide solutions that streamline the engineering, procurement, and construction cycle for companies in the process industries.
The transaction was closed in the quarter ended June 30, 2001. Financial implications of this deal will be described and reflected in Ventro's quarterly filing
with the Securities and Exchange Commission.
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