USA: FreeMarkets and H.J. Heinz Company announce agreement
FreeMarkets, Inc. (Nasdaq:FMKT), the leading B2B eMarketplace, and H.J. Heinz Company (NYSE:HNZ), one of the world's leading marketers of branded foods, announced today that they have signed an agreement for FreeMarkets to provide access to its B2B eMarketplace, which Heinz is using as a platform for sourcing goods and services for its operations worldwide. "As part of our long-standing commitment to change, expansion and growth, Heinz is aggressively adopting and implementing innovative technologies that enhance the performance of our global marketing, logistics and production around the world," said Heinz Vice President and Chief Procurement Officer Scott Allen. "FreeMarkets is a key piece of our e-sourcing strategy, and we look forward to leveraging the company's technology, information and services to enhance the efficiency of our sourcing process and create benefits for our organization and its shareholders." "Heinz is not only a powerful global food marketer, but a leader among consumer companies in the use of cutting-edge technologies that benefit its operations," said Jason Reneau, director of consumer business at FreeMarkets. "We are very pleased that Heinz is choosing our B2B eMarketplace as part of its e-sourcing strategy to deliver savings and reduced sourcing process time to Heinz's operations around the globe."
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