ForestExpress Surpasses $200 Million in Transaction Volume
Press release from the issuing company
Company Delivers Solid Performance and Continued Growth; Addresses Industry Needs Highlighted in Recent Survey
ATLANTA, October 15, 2002 - ForestExpress, the transaction processing network for the forest products industry and its allied industries, today announced that year-to-date it has registered almost 40,000 transactions over its network worth an estimated $200 million. The reported volume represents a diversity of customers throughout the supply chain - from raw materials procurement to finished goods.
"We continue to help e-commerce adoption in the industry by focusing on providing the core infrastructure needed to conduct business electronically between trading partners," said Bob Renner, CEO for ForestExpress. "Perhaps more importantly, we are helping our customers realize true benefits of business-to-business integration."
The top three benefits of business-to-business integration, identified in a recent survey conducted by Stat One Research, were acknowledged as faster transactions, increased data accuracy, and cost savings. In addition, those polled believed the value of integration can also be seen in convenience, lower inventory and less paperwork.
"We've seen the volume of electronic transactions increase 50 percent since connecting to ForestExpress," said Mike Jackson, vice president of Weyerhaeuser Company's Fine Paper Business, and a ForestExpress trading partner. "Our customer support team is seeing real proof that integration is providing efficiencies and over time this will lower costs for both the company and our customers."
In addition to increased network volume among trading partners, ForestExpress is experiencing significant growth in its catalog content services and transaction services tailored to the evolving needs of trading partners for buying and selling forest products.
ForestExpress is an industry supported e-business solutions company providing business-to-business connectivity and catalog content services for the paper and forest products industries. The company also provides transaction services for the buying and selling of timber, the industry's most important raw material, via the ForestExpress Timber Trading Center. Focused on the forest products and allied industries, ForestExpress provides solutions that streamline and automate routine supply chain transactions between customers and suppliers.
ForestExpress was established as a neutral, independent company in 2000, with the support of leading forest products companies including Boise Cascade Corporation (NYSE: BCC), Georgia-Pacific Corp. (NYSE: GP), International Paper (NYSE: IP), MeadWestvaco Corporation (NYSE: MWV), and Weyerhaeuser Co. (NYSE: WY). ForestExpress is headquartered in Atlanta, Georgia, and on the Web at www.forestexpress.com.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.