The Andersons Inc. Selects ICG Commerce's Procurement Services to Help Achieve Annual Cost Savings
E-Procurement Initiative is a Key Component of a Center-Led Procurement Strategy for the Diversified Agribusiness and Retailing Company based in Maumee, Ohio
PHILADELPHIA - Thursday, May 23, 2002 - ICG Commerce, a leading procurement services provider, today announced
that it has signed a new agreement with The Andersons, Inc. (NASDAQ: ANDE). Under the terms of the agreement, The
Andersons will use ICG Commerce's Managed e-Procurement services over the next five years to achieve measurable
savings and increased efficiencies on the procurement of goods and services.
"The Andersons is committed to utilizing external expertise and sourcing tools to strengthen our business processes and
to realize immediate, measurable savings," said Glenn Underwood, Director of Strategic Sourcing and Procurement for
The Andersons. "ICG Commerce's tools and services help create a center-led procurement process to ensure the
company is leveraging its expenditure with an optimized supplier base."
As part of its Managed e-Procurement offering, ICG Commerce has aggregated the volume of its global customer base
and negotiated optimal pricing and service levels with best-in-class suppliers. "ICG Commerce's solution will bring
The Andersons significant, tangible savings and improved service through pre-existing supplier agreements," said Gary
Smith, Vice President Finance & Treasurer for The Andersons. ICG Commerce enables companies to access these
savings through pre-built, online catalogs hosted on ICG Commerce's RealExchangeSM - a proprietary Web-based
purchasing tool that automates an order from requisition to payment. The Andersons will utilize this solution to
automate its purchase process and obtain reduced pricing on indirect goods used throughout the company.
"The use of ICG Commerce's tools and services will provide The Andersons a means to extend those corporate supplier
agreements to our facilities nationwide and streamline our purchasing process," said Smith.
Employees at The Andersons will purchase goods online in multiple indirect material purchasing categories through
RealExchange. In addition, The Andersons anticipates utilizing ICG Commerce personnel for sourcing projects in other
areas of significant spend as well as their Large Bids & Quotes service to help source any unique, non-routine
purchases.
"We are excited to be working with The Andersons," said Bill Toler, President of North American Operations for ICG
Commerce. "As a leader in its industry, The Andersons understand the value of capitalizing on solutions that deliver
significant value and support the company's business objectives. Through comprehensive procurement services, ICG
Commerce will bring immediate and sustainable savings while continuing to drive a high return on their investment
over the coming months."
About The Anderson, Inc.
The Andersons, Inc. (NASDAQ: ANDE) is a diversified agribusiness and retailing company based in Maumee, OH. A
prominent regional player in the grain merchandising and wholesale fertilizer distribution in the eastern corn belt, the
company has diversified into other agribusiness operations, railcar leasing, turf care product manufacturing and
distribution, and general merchandise retailing. For more information about the company, please visit us on the web at
www.andersonsinc.com.
About ICG Commerce, Inc.
ICG Commerce (www.icgcommerce.com) is the leading Procurement Service Provider for Global 2000 companies.
Leveraging its wealth of purchasing and sourcing expertise and flexible technology, ICG Commerce delivers tailored
services for the procurement of direct and indirect goods. The company is uniquely positioned to deliver substantial
hard-dollar procurement savings. ICG Commerce Inc., a privately held company founded in 1992, is a member of
Internet Capital Group's (NASDAQ: ICGE) network of partner companies.
ICG Commerce
877-935-ICGC [4242]
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