Orbis Online inks joint venture
with Express Chemical Finance
(San Antonio, Texas) June 13, 2001 - Orbis Online, Inc. ("Orbis")
announced that it has entered into a joint venture with Express Chemical
Finance, LLC ("Express") for the purpose of marketing real-time
reverse auction technology to companies based in the Middle East.
Under the agreement, Orbis will provide the new entity ("OrbisExpress")
with its real-time reverse auction technology and conduct the training
of the parties' agents, suppliers and buyers.
Express will engage and manage the requisite agent relationships applicable
to conducting business in Saudi Arabia, Bahrain, Kuwait, Egypt and other
Middle East countries. Express will be the exclusive representative
of Orbis and OrbisExpress in the Middle East, for an initial period
of 10 years.
"Orbis Online is delighted to announce this joint venture that
will provide us with the ability to market our leading online procurement
services to a whole new region", said James Strader, CEO of Orbis
Online. "We have had great success domestically and in Asia Pacific,
and we look forward to achieving the same results for Middle East customers."
Commenting on the new venture, Paul A. Bell, President of Express said,
"We are very excited by this opportunity because Orbis' specialized
procurement technology can result in immediate and substantial savings
for many of Express' customers in the Middle East, including government-managed
and large private energy and industrial companies."
About Orbis Online, Inc.
Orbis Online, Inc., headquartered in San Antonio, Texas, offers a patent-pending
online competitive bidding tool that significantly reduces the costs
of products and services versus traditional procurement methods, and
is transforming the traditional competitive bidding process into live,
more powerful events worldwide. What makes Orbis Online's value proposition
so unique is superior solution functionality combined with no up-front
costs and no software installation, but with all the benefits customers
can normally only have by buying or developing their own in-house systems.
About Express Chemical Finance, LLC
Express Chemical Finance, LLC, is an investment and finance group specializing
in acquiring and licensing proprietary industrial products and technologies
and then managing their international marketing and distribution.
Among its products, Express owns technology patents and trademarks of
a leading supplier of down-hole completion chemicals and drilling tools
sold worldwide by Group 42, Inc. (Group 42), an Express affiliate, under
the trade-names: Well Flow and Ezi-Flow. Group 42 has offices in Houston,
Aberdeen, Bahrain, and Singapore from which it markets and distributes
Well Flow and other products under license and through agents to government
and private energy and industrial companies in Saudi Arabia, Egypt,
Unite Arab Emirates and other countries throughout the Middle and Far
For more information on Orbis Online, Inc., please visit our website
or call (210) 576-7600.
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